Caesars execs address plans for land on Strip

Caesars execs address plans for land on Strip
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Caesars Entertainment executives talked growth and efficiency today in their first investors conference since the company emerged from bankruptcy but also fielded questions from analysts about business on the Strip after the Route 91 Harvest festival mass shooting.

“It’s fair to say we are cautiously optimistic about the rebound and think the occupancy rates across the Strip took a little hit the first day and week,” said Caesars Entertainment President and Chief Executive Officer Mark Frissora.

“But every day seems to change and improve. The meeting business is solid. There have been no cancellations for the year. The biggest impact has been in Asian play. It has been less because people in Asia are very respectful of the deaths that have occurred and believe there should be a period of mourning.”

The question was just one of many, most around financials and growth opportunities, that Caesars executives spoke about during the lengthy presentation.

In Las Vegas, Frissora said Caesars has a master plan that will develop seven acres in front of Caesars Palace, as well as land it owns behind properties on the east side of the Strip and Koval Lane.

In addition to the land in front of Caesars Palace, the company owns about 39 acres next to the Linq and about 50 acres next to Bally’s, Paris and Planet Hollywood.

In response to investors questions, other Caesars executives said the center would cost $300 million-$350 million and should be built in two years, depending on permitting and coordination with Caesars’ new board of directors.

 

read more at lasvegassun.com

Started working in the Casino Industry in 1985, just never managed to leave as yet. Visited 99% of all UK Casinos, seen them all,

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