Posts Tagged ‘caesars entertainment’

Caesars Looking to Develop $750M Casino Resort in New York

by | Published: Friday, April 25th, 2014

The popular Caesars Entertainment, which owns fifty-three casinos across the globe, announced on Wednesday that it plans to pursue a license in a bid to develop a new resort casino in Woodbury, New York, which is located roughly fifty miles north of New York City.

Caesars are putting a lot into this process already. They posted a $1 million application fee to get one of the four available licenses in New York State for their proposed $750 million luxury resort. Caesars has big plans for the resort, which is situated on 121 acres of land in Woodbury, including a hotel, restaurants, bars, retail, and entertainment/meeting spaces.

“Woodbury is already a well-known destination thanks to the world-class shopping at Woodbury Common. The site is ideally suited for the development of a resort casino given its proximity to transportation and other attractions,” said Gary Loveman, chairman and CEO of Caesars Entertainment. “We are delighted to be collaborating with [developer] David Flaum, whose vision and experience will play a crucial role as we work to design and develop a project that fits well with the surrounding community.”

New York is already bustling with five Indian-run casinos upstate, as well as an additional nine slot-machine parlors at racetracks. Nevertheless, New York voters approved a constitutional amendment to expand casino gambling last November. The amendment could result in up to seven full-scale casinos, though Gov. Andrew Cuomo has limited the expansion permit to four new casinos to begin with – one of which Caesars has already bid on.

Cuomo believes the expansion will bring many jobs to the upstate region of the state.

“We literally hemorrhage people from the borders who go to casinos,” said Cuomo. “I think it will keep the money in the state, and I think it’s a major economic development vehicle for the Hudson Valley especially and for upstate New York.”

Cuomo reached out to a number of different casino operators, including the Las Vegas Sands, MGM, and Boyd Gambling, though only Caesars has submitted a bid for an upstate resort at this stage. The possibility of casinos in the New York metropolitan area may change their minds, if and when Cuomo permits the construction of them. With three casino expansions still up his sleeve, Cuomo holds all the cards.

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23 Top Players Confirmed for WSOP $1 Million One Drop

by | Published: Thursday, March 20th, 2014

There still remains 101 days until the 2014 World Series of Poker $1 Million Big One for One Drop begins, yet nearly half of tournament has already sold out.

Caesars Interactive Entertainment announced on Wednesday that 23 entries have already been confirmed for the seven-figure bracelet event running from June 29 through July 1, and they are all returning players. Among them are former One Drop champion from 2012 Antonio Esfandiari, One Drop founder Guy Laliberte, and Phil Ivey.

“I can’t wait to defend my title,” Esfandiari said in a statement. “That event was life-changing, but so was my trip to El Salvador after it with the One Drop organization to see first-hand what a difference the money raised from this event can do for those in dire need of help.”

Team PokerStars Pro Jason Mercier is equally excited, but for a very different reason.

“I’m really excited to play this tournament again,” he told PokerNews. “And I’m looking forward to knocking out Antonio. If he wins, I may quit poker.”

This hostility stems from Esfandiari knocking out Mercier in the 2012 One Drop shock clash.

Laliberté echoes Esfandiari and Mercier, adding “The inaugural event made history and I look forward to another historic moment again this June… The support from the poker community continues to be just incredible.”

The players confirmed for the 2014 One Drop so far include: Antonio Esfandiari, Guy Laliberte, Bobby Baldwin, David Einhorn, Phil Galfond, Philipp Gruissem, Phil Ivey, Jason Mercier, Paul Newey, Bill Perkins, Vivek Rajkumar, Brian Rast, Andrew Robl, Erik Seidel, Brandon Steven, Sam Trickett, and Noah Schwartz.

The last event was capped at 48 and sold out, so the WSOP and One Drop decided to add another eight-handed table this year, bringing the cap to 56. If it happens to sell out again, the first place prize would reach $20 million. This is a first-come first-serve event, and those that provide a deposit will be guaranteed a seat.

Of the 23 confirmed entries so far, three are “anonymous businessmen” and the last three are satellite seats that will be offered at Aria, Bellagio, and the WSOP. In 2012, the $25,300 buy0in One Drop satellite attracted nearly 100 entries, with the winning spot going to Gus Hansen.

The WSOP and One Drop will also commence reaching out to new players that didn’t participate in 2012. All players at the 2014 WSOP are encouraged to donate one percent of their winnings to the One Drop Foundation, as they continue to improve lives in Nicaragua, Honduras, El Salvador, Haiti, India, Burkina Faso, and beyond.

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WSOP Facelift for Bally’s Atlantic City

by | Published: Monday, February 24th, 2014

The infamous Wild Wild West casino area in Bally’s Atlantic City has undergone a facelift. Owner Caesars Entertainment—which also owns Harrah’s, Caesars, and Showboat in Atlantic City—just announced the overhaul that includes a state-of-the-art World Series of Poker-branded poker room.

The casino released a press release, announcing that the poker room—which previously sat on the sixth floor—would move to the Old West-themed area of the casino. It now features 42 live-game tables as well as dedicated tournament tables, which effectively means the amount of poker tables at Bally’s has doubled.

The room will heavily push the online brand, offering free WiFi, charging stations, and 20+ HDTV’s featuring all major local and national sports packages. Players will also have access to tableside food and beverages from Wild About Wings.

The poker room is not the only area of Bally’s being renovated. The Wild Wild West casino area will include a “Part Pit”, offering customers live entertainment from Thursday to Sunday.

“The Wild Wild West provides locals and visitors alike with a truly unique experience of branded entertainment, gaming, and unparalleled excitement, so with these latest additions the property can now lay claim to a top-notch poker room and a game-changing party pit,” said Kevin Ortzman, Senior Vice President and General Manager for Bally’s, Caesars, and Showboat Atlantic City. “We believe this development will forever evolve the face of poker in Atlantic City and expand our ability to provide guests with the highest quality of gaming and live entertainment opportunities available.”

Players will get direct access to the poker room when Bally reopens the casino’s Pacific Avenue entrance, which has been closed since late 2011m on Monday.

“Poker players like convenience. They don’t want to have to walk very far,” Freddie Niceta, vice president of table games for Caesars’ regional properties, told the Press of Atlantic City.

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Online Poker Could Harm Land-Based Caesars

by | Published: Monday, December 9th, 2013

According to a recent article published by the Associated Press, online poker has the potential to cause serious effects to Caesars Entertainment’s four physical (land-based) casinos in Las Vegas and Atlantic City.

In a declaration to regulators this past week, Caesars outlined their concern of online poker, and more specifically gambling as a whole, which they believe could substantially reduce visits to their premises at both locations and the potential harm this could bring to the company as a whole.

The report in question, delivered to the U.S. Securities and Exchange Commission, clarified that online poker and gambling would “compete” with their physical casinos.

“Caesars will, and other online providers do, offer online gaming options that compete with our live poker offerings in Nevada and New Jersey” the report from Caesars outlined.

“Expansion of online gaming in Nevada, the commencement and expansion of online gambling in New Jersey and the introduction of online gaming in other jurisdictions may further compete with our operations.

“Online gaming may reduce customer visitation and spend in our traditional casinos in Nevada and New Jersey, which could have an adverse impact on our business and result of operations.”

The report highlighted Harrah’s Resort, Caesars Atlantic City, Bally’s Atlantic City and the Showboat Casino as most likely to cop the brunt of online gambling, as New Jersey allows a complete online casino experience, whereas Nevada only offers online poker.

Gary Thompson, spokesperson for Caesars outlined to the Associated Press that report was vital for a number of reasons.

“There are legal reasons for including cautionary language for potential issues that, while we consider them less rather than more, likely, could impact our operations.

“While it’s a legal requirement to include such language as this among potential risk factors, our experience has been that opening new channels to reach potential new customers and offer them the benefits, among others, of our Total Rewards program, has not caused visitation declines.”

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