May 19, 2021
Caesars Entertainment has confirmed that they are still planning to sell one of their properties on the Las Vegas Strip… they’re just not is a rush to do it. Especially while the pandemic is still hurting the economy.
With Coronavirus still lurking in the shadows, a Caesars executive said that they will wait to sell any resort until the market rebounds after the pandemic.
There had been rumors of the San Manuel Band of Mission Indians could be a suitor. However, they just completed a purchase of the Las Vegas Palms for $650 million.
Caesars CEO Tom Reeg said that that it makes since for the company to wait a while before selling a property, saying “…it does not make sense for us to market an asset until we can market it off the cash flow that we’re doing with it.”
You can read more at the Las Vegas Review-Journal.
