The move, however, is expected to exacerbate the already strained relations between Caesars Entertainment and factions of the company’s debt holders, who are worried they could be left holding the bag as Caesars attempts to restructure its damaged balance sheet. Caesars has undertaken several reorganization efforts, including selling more than a half-dozen hotel-casinos and its interactive gaming business to an affiliated company, Caesars Growth Partners. The closings are being done as Caesars battles to get out from underneath its gaming industry-high $23 billion in long term debt. 31, the smallest and least profitable of the four casinos Caesars operates in New Jersey.Įarlier this month, the company closed Harrah’s Tunica in northern Mississippi. The Las Vegas-based casino giant said Friday it was shutting down operations at the Showboat in Atlantic City on Aug. has announced it will close an under-performing hotel-casino. (AP Photo/Wayne Parry)įor the second time this year, financially strapped Caesars Entertainment Corp.
25, 2013 for using unshuffled cards and violating money counting room procedures. New Jersey casino regulators fined the Showboat $7,000 Nov. This Jphoto shows a slanted hotel tower, left, of the Showboat Casino Hotel in Atlantic City.
