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In a conference call last week, Caesar’s Entertainment Corp. CEO Gary Loveman said his firm could not rule out closing some or all four of its Atlantic City casino properties as a means to cut costs.
"We are looking at all of our options to reduce the cost of doing business here," Loveman said Wednesday on a conference call after reporting a wider first-quarter loss. "All the businesses in A.C. are under tremendous pressure."
The casino firm has already shuttered one of its acquired properties, the Atlantic Club, and announced it was placing a $1 million bid for one of four available gaming licenses in New York.
The company owns four casinos in Atlantic City—Caesars, Bally's, Harrah's and Showboat. Loveman could not say for certain that one or all of these properties would eventually close.
- Aaron Goldstein, Gambling911.com
