Caesars has opened early sign-ups for its online sportsbook in Missouri, getting a head start before the state launches legal sports betting on December 1.
Once the market...
Caesars sells the LINQ Promenade for $275M
Caesars Entertainment has finalized the $275 million sale of its LINQ Promenade to a joint venture between TPG Real Estate and Acadia Realty Trust.
The Promenade, located between Flamingo Las Vegas and Caesars’ LINQ Hotel and Experience, features shopping, dining, and entertainment attractions, including the High Roller Observation Wheel, but excludes the surrounding hotels.
Opened in 2013, Promenad cost Caesars $550 million to develop a decade ago, with the High Roller debuting in 2014 as the world’s tallest observation wheel until surpassed by Ain Dubai in 2021.
The sale underscores Caesars’ ongoing effort to stabilize its financial position amid industry shifts. The LINQ Promenade remains a centrepiece on the Las Vegas Strip, now under new ownership but still a major draw for tourists and locals alike. CEO Tom Reeg previously described selling as “No. 1 priority.” to reduce debt, hinting at potential future sales.
Caesars’ Q3 revenues
Caesars Entertainment saw a slight decline in its Q3 revenues and income from Las Vegas properties.
Tom Reeg, CEO of Caesars Entertainment, said:
“Regional segment operating results were negatively impacted by new competition, construction disruption, and difficult comparisons versus the prior year. Caesars Digital set a new all-time quarterly record for adjusted EBITDA driven by over 40% growth in net revenues.”
The Cromwell, Paris, Horseshoe, Harrah’s, and Caesar’s Palace net revenues declined by 10.4% to $696 million, while total net revenues declined by 1.3% to $3.2 billion.
Caesars Entertainment will pay a $7.8 million fine and follow a series of new compliance rules after Nevada regulators said the company failed to properly follow anti-money...
