Why Caesars Wants Revel’s Atlantic City Casino

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Jan. 31 (Bloomberg) -- Bloomberg’s Cristina Alesci examines Caesars’ possible bid for the Revel Casino in Atlantic City on Bloomberg Television’s “In The Loop.”

Buying a money losing casino?

They already own for properties there, and they are having a really tough time to generate a stressed -- interest.

It is crazy.

Why this strategy?

There are too many casinos, so they want to lock up the system and see which casino operates better very maybe shut one down, and at the same time -- how many do they have?

Look at that.

I saw boardwalk empire, but it seems like caesars has it.

It has been a struggle, and now with online giving, they do not need to have another casino to began late -- began bowling online -- be gambling online.

It is the same problem with e-commerce, how do get people to go there?

It never seems to change in atlantic city, you get to go down and there are some other casinos, but the surrounding area does not change.

The question is what can the private equity owners do?

One of the things that they have toyed with, just speaking with people behind the scenes as may be turning one of these into more of a convention center.

Here you see how much they are struggling in and of themselves.

That is a pretty sorry state.

You look at financials all the time, if you look at a balance sheet and thought, what would you think?

I think the regulators are going to look at this deal, because regulators do not like a competitor buying a business with those numbers.

One of the senators in the new jersey area has raised a red flag saying that we do not want caesars entertainment to lock up another conceit --casino.

But it might help the casino revenue and little bit.

Casino -- caesars entertainment themselves are a little bit of a troubled background.

Thety re: negative cash flow -- they are in negative cash flow.

Do we question the management, but isn't or isi it because of cash flow?

The casino itself is getting a little tired, and their trade to refresh themselves.

Caesars in vegas is doing quite well, but they want to save face.

Is this all about the raven equity -- right at equity -- private equity.


We will have to see how this all plays out.

Thank you.

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