Ceasars Faces Federal Money-Laundering Probe

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Oct. 29 (Bloomberg) -- Bloomberg Industries Brian Miller reports on Ceasars Federal money-laundering probe on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

Largest network of casinos in the united states and generated $7.5 billion over the past year.

For more, brian miller joins us from our princeton office.

We can talk about the quarter and we can talk about some of the headlines recently about some regulatory and approval issues in massachusetts.

How much of a problem is this going to be for caesars?

Not right now for this quarter bed looking forward this is going to be a knock on their future revenue.

The massachusetts project was a billion-dollar market.

They did not have it locked in but if they had it in place, it would have been incremental revenue.

Massachusetts is not the biggest part of the company's revenues.

That is las vegas.

About 35% of sales.

What kind of trends are we seeing this year and how is that going to play through?

Long-term, las vegas has not been a great place to be in business.

In the most recent quarter we have data for the first two months, there is a pick up in what we think of was mass-market or normal person revenue.

That is good for the casino.

Non-gaming revenues are 50% of the picture.

That is also growing.

The big catalyst is going to be a strong convention calendar.

Caesars and mgm have the most hotel rooms.

That is going to be a boost for them.

The fact that las vegas has not been doing as well, the stock is actually doing very well.

Caesars stock is about 170% this year, trading at a premium to other operators.

They do a lot of revenue overseas.

How does the online gaming and balance sheet in choose -- issues play into the stock?

It does not trade on fundamentals.

Online gaming is a big question mark.

They have this big rewards network of customers.

If online gaming comes out nationwide, they will be able to tap that database.

Apollo and tbg, that is something we do not look into, but i follow -- spoke to an analyst.

Apollo is fixing the balance sheet.

That is good for equity holders.

Maybe not forthat is in for "on the markets

This text has been automatically generated. It may not be 100% accurate.


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