Starting following week, four Caesars Entertainment Corporation-owned and managed properties at Las Vegas will have their resort fees raised. This news was revealed just recently by the company’s officials who said that resort fees at those four properties will be raised by only $2. This change will affect the Bally’s, Harrah’s Las Vegas, the Flamingo, and The Linq Hotel. Rates will increase from the current $35 that visitors have to pay per night to $37. After taxes are added, the fee is concluded at $41.95 in total.

According to one official press release by the hospitality, entertainment and casino behemoth, these changes related to the resort fee changes came as a result of the company’s efforts to remain competitive with its major rivals including the MGM Grand and The Mirage venues. For comparison, these facilities have a starting rate of $39 for a one-night stay. The company’s official press release also revealed that membered of the Caesars Rewards loyalty club will be exempt from the new resort fees. Nonetheless, these Rewards loyalty members have to be off the Diamond and Seven Star status.

The Change Affecting Four Las Vegas Properties

One of the flagship Caesars Entertainment Corporation- operated venues the Harrah’s Las Vegas is affected by the new changes. This iconic venue opened its doors more than forty-five years ago back on the 2^nd of July 1973. The hotel area features over two thousand and five hundred rooms with a casino floor of over 90,600 square feet. Besides, there is a number of other signature attractions including restaurants the Ruth’s Chris Steak House, Oyster Bar and more.

The second venue which will also see changes in the resort fees is the Bally’s Las Vegas venue which opened its doors on the 5^th of December 1973. The venue formerly known as MGM Grand Hotel and Casino is a casino and hotel both owned and managed by Caesars Entertainment Corporation. The hotel venue features over two thousand and eight hundred rooms while other amenities include meeting space and a casino floor which occupies over 68,000 square feet. Over 75% of the hotel rooms are actually located in the newly renovated Resort Tower.

The Linq Hotel and Casino opened its doors over sixty years ago in 1959. This iconic Caesars Entertainment Corporation venue features a hotel area with over two thousand and six hundred rooms alongside a casino and a massive shopping area. The casino which occupies over 33,000 square feet features eight hundred slot machines alongside fifty-five table games and a sportsbook.

The fourth Las Vegas property operated by the company which is affected by the new resort fees is the Flamingo Las Vegas venue that opened seventy-three years ago on the 26^th of December 1946. Formerly known as the Flamingo Hilton Las Vegas and The Fabulous Flamingo, Flamingo Las Vegas features a massive 72,000 square feet casino floor while its hotel area offers almost three thousand and five hundred rooms.

MGM Raising Resort Fees in 2019

Commenting on the news, Travelers United lawyer Lauren Wolfe said that the short-term increase in revenues for Caesars Entertainment Corporation is not worth the long-run damage which increased fees can bring. According to Lauren Wolfe, visitors are rather upset about the increased fees. She also said that it is very disappointing to see companies taking this direction.

In addition to Caesars Entertainment Corporation, MGM Resorts also increased its resort fees for the Vdara, Aria and Bellagio venues back in 2019. The resort fees for these venues by $6 to $45. MGM Resorts decided to increase its resort fees in order to stay in line with rivals such as the Wynn Las Vegas, The Venetian, and the Palazzo properties.

As one of the biggest, most prominent casino operators in the United States, Caesars Entertainment Corporation owns and manages several iconic hotels and casinos in the states. The company emerged on the scene as The Promus Companies in 1990 while it changed the game to Harrah’s Entertainment in 1995. It was founded in Reno, Nevada.

Today, Caesars Entertainment Corporation operates over fifty properties in addition to operating seven golf courses under several different brands. Back in 2013, the company was the fourth biggest gaming firm in the world with staggering annual revenues that at the time exceeded $8.6 billion. The company is majority-owned by several private equity companies governed by Paulson and Co, Carl Icahn, TPG Capital, and Apollo Global Management.

Caesars and Eldorado Merger

Back in March 2019, it was revealed that Eldorado Resorts and Caesars Entertainment Corporation are exploring the possibility to merge the two firms. Several months later on the 23^rd of June, Caesars Entertainment Corporation officially accepted Eldorado Resorts’ offered while the business deal details that Caesars will control fifty-three assets compared to twenty-six assets controlled by Eldorado Resorts.

On the 24^th of June, it was reported that Eldorado and Caesars will definitely ordain a merger with an assortment of cash and stocks worth around $8.5 billion. Once the merger of the two companies is completed, six board members will come from Eldorado Resorts and five board members will come from Caesars Entertainment Corporation. On the 15^th of November, shareholders of both companies voted for the merger which is expected to be completed in the first six months of the following year once all regulatory approvals and other conditions are in place.

Caesars Southern Indiana Facility

In the meantime, before the merger is completed, Caesars Entertainment Corporation focuses on its new facility located in Indiana. As reported, the company inaugurated its Caesars Southern Indiana facility worth around $90 million shortly after it closed down its Horseshoe Southern Indiana facility.

According to a report by The Courier-Journal news outlet, the facility’s debut was actually made possible by the legislation passage from 2015 which permits riverboat casinos in the state to move onto dry ground and remain in the business for as long as they do not stray from their original footprints extensively. The same newspaper also reported that the company behind the facility had run its popular Horseshoe Southern Indiana facility from the vessel Glory of Rome since 1998.

The company also held a closing party several days before relocating the complete collection of the casino’s one thousand and three hundred slot machines into a new onshore facility. The company’s Caesars Southern Indiana onshore facility has plenty of space with 110,000 square feet. In addition to offering an extensive collection of slot machines, this Las Vegas-style casino facility also has a rich portfolio of around seventy table games offering blackjack, craps, and poker games.

Moreover, the facility also features a sportsbook. Caesars Southern Indiana’s General Manager and Vice President Brad Seigel said to the news outlet that the one-story venue features a VIP lounge, several new restaurants, a tavern, private gaming areas as well as separate non-smoking gaming areas. He believes that thanks to its rich casino floor and additional amenities, the venue will become the very best spot in the area in dining, gaming, hospitality, and entertainment.

In order to take advantage of ratified gambling legislation, one of the biggest casino operators in the United States, Caesars Entertainment Corporation revealed that the company wants to launch sports betting services at five facilities located in the state of Indiana. As it was reported, the very first service of this is expected to start on Sunday.

The Las Vegas-based company in its official press releases stated that it plans on opening a sportsbook within its popular Indiana Grand Racing and Casino facility this week before introducing similar sports betting service within its Harrah’s Hoosier Park Racing and Casino in days to come. Caesars Entertainment Corporation was founded eighty-one years ago in 1937 in Reno, Nevada.

The company currently operates and owns more than fifty properties including several gold courses under several brands. Back in 2013, Caesars Entertainment Limited was the fourth-biggest company of this kind in the world with remarkable annual revenues of more than $8.5 billion.

Rich History Spanning Over Eighty Years

Everything started back on the 29^th of October, eighty-one years when Bill Harrah established a small bingo room in Reno. This small bingo parlor is actually a predecessor to popular Harrah’s Reno. Back in 1955, this back then the small company expanded to Stateline on the Lake Tahoe shore where Bill Harrah opened Harrah’s Lake Tahoe facility. The company appeared on the American Stock Exchange for the first time in 1973 which made Bill Harrah’s company the very first gambling company to be listed on the biggest stock exchange.

In February of 1980, the company was acquired by Holiday Inn for around $300 million. The company that we know today as Caesars Entertainment was established back in 1980 by its former name The Promus Companies. Following a massive increase in the growth of gambling markets back in 80s and early 90s, Caesars Entertainment Corporation opened a number of riverboat casinos, hotel and casino resorts including Harrah’s Shreveport, Harrah’s Ak-Chin, Harrah’s Central City, Harrah’s Black Hawk, Harrah’s Tunica, Harrah’s Joliet and Harrah’s Vicksburg.

Before purchasing Caesars Entertainment Inc. in 2005, the company was renamed to Harrah’s Entertainment while continuing its remarkable gaming expansion by opening Harrah’s Prairie Band, SkyCity Auckland, as well as by acquiring the Showboat Inc., Players International, Rio All-Suite Hotel and Casino and several other companies. The company’s biggest expansion came in 2005 with acquiring Caesars Entertainment for more than $10 billion.

Purchasing the Company Behind Indiana-Based Facilities

As it was reported recently, the company invested around $1.7 billion in just several months in order to acquire the company which is behind those two Indiana-based gambling venues. It was also reported that Caesars Entertainment Limited was the very first company to actually capitalize on the latest gambling legislation which was signed not so long ago by the state’s Governor Eric Holcomb.

This legislation in particular legalized all sorts of sports betting activities in May while the very first sports betting platforms can start offering their services as of the 1^st of September. Caesars Entertainment Limited hopes on attracting new customers with its sports betting services offered within Indiana Grand Racing and Casino including offering a large selection of sports such as golf, basketball, and baseball among others. Besides adding more sports betting activities, the company also plans on adding new dining areas with restaurants.

After many months of chatter, Eldorado Resorts finally decided to buy Caesars for around $18 billion in a stock deal as stated recently. This news about two major powerhouses merging arrives several months after it emerged on the scene that Eldorado Resorts and Caesars Entertainment have engaged in some kind of consolidation discussions. This deal values Caesars Entertainment at $13 per share as stated by reliable sources.

The same sources state that ownership of the merged facility would be split in half between the two powerhouses while the actual price is in line what Caesars Entertainment has expected from its potential buyer. Before this deal was finally sealed, several reports emerged on the scene stating that the biggest Las Vegas stakeholder, Carl Icahn who is a prominent New York businessman pressed Caesars Entertainment to finally finalize Eldorado Resorts merger talks.

It was also revealed that Carl Icahn as a member of the company’s board was at odds about the ultimate sale price. However, as reported, Mr. Icahn pressed the company’s board to offer an even lower price than that of $13 per share in order to finally finalize those merger talks. Despite his pressures, other members of the company’s board decided to stick with a higher price which will benefit all of the company’s stakeholders.

Merger Talks Began in March

As mentioned previously, the very first merger talks including Eldorado Resorts and Caesars Entertainment started at the beginning of March following Caesars Entertainment allowing Eldorado Resorts to access all of its financial information. Prior to these specific merger talks, Caesars Entertainment has been pressed to either merge with another company or to sell itself mainly by Mr. Icahn who is among the biggest company’s stakeholders with almost 29% of Caesars shares.

Icahn began building his Caesars stake at the beginning of this year and according to him and several other activist investors, a merger deal or a sale was the best way forward for the company that at the moment is struggling with a mountain of debt and needs to find new ways for cutting its increasing costs. When it comes to the merged Eldorado Resorts and Caesars Entertainment company, it is most likely to be split in half between the two operators.

The Combined Company with Tom Reeg as CEO

It was also reported earlier that the combined entity is most likely to see Tom Reeg who is the Eldorado Resorts’ CEO as the combined entity’s CEO as well. Both sides believe that Tom Reeg possess remarkable leadership skills and these skills are highly valued by Caesars Entertainment’s biggest stakeholder, Mr. Icahn. It also should be noted that last year, the hospitality and gaming operator bought Tropicana Entertainment from an activist investor for around $1.9 billion.

It also should be noted that Eldorado Resorts has an impressive market value of $4 billion while it operates twenty-six properties located in twelve states. Moreover, the company just recently get his permanent operating license for its recently purchased Tropicana Atlantic City. When it comes to Caesars Entertainment, the company’s business portfolio includes fifty-three both non-gaming and gaming resorts located in fourteen states and five more countries.

In the United States, Caesars Entertainment also operates several other brands including the Harrah’s and Horseshoe casinos. Hence, the combined facility would create a massive land-based gambling powerhouse with major ambitions to expand its business across other jurisdictions outside of the United States as well as cementing its reputation in its native country.