Caesars names Tony Rodio as CEO with activist investor Icahn pushing for change

Tuesday, April 16th, 2019, 9:40am

NEW YORK (AP) -- Caesars Entertainment is appointing a veteran of the Las Vegas Strip as its new chief executive.

The casino giant named Tony Rodio as CEO Tuesday. He'll replace Mark Frissora, who guided the company through bankruptcy reorganization after joining Caesars in 2015.

The change in leadership comes two months after billionaire investor Carl Icahn disclosed a large stake in the casino and began pushing for fundamental changes.

Rodio has over three decades of experience in the industry, including seven years as president and CEO of Tropicana Entertainment, which Icahn sold last year for $1.85 billion.

Rodio will leave his job as CEO of Affinity Gaming to join Caesars. Frissora was initially scheduled to end his tenure at Caesars in February, but delayed his departure until this month... Read More

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Reports of possible Caesars Entertainment sale

Submitted by 8NewsNOWStaff

Thursday, April 11th, 2019, 5:14pm

LAS VEGAS (KLAS) -- There are potentially huge changes happening for Caesars Entertainment. Reports are suggesting Caesars will be put up for sale as soon as this week.

The New York Post is reporting that Caesars is moving forward with a sale and that the major Las Vegas Strip property will be announcing it soon.

The New York Post cites sources close to the situation that the sale was approved amid pressure from billionaire investor Carl Icahn.

He is the company's largest shareholder and he has been pushing for a sale of Caesars Entertainment for the past couple months. The New York Post is also reporting that Tilman Fertitta, owner of the Golden Nugget, Landry's and the Houston Rockets, was invited to review the company's financials. Sources say that means he's in play for the sale.

Hospitality expert David Schwartz tells 8 News Now he's been hearing rumblings about this for a while so he's not too surprised... Read More

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Submitted by 8NewsNOWStaff

Tuesday, April 9th, 2019, 2:11pm

UPDATE: Wynn Resorts announced Tuesday afternoon it has terminated all discussions with Crown Resorts to buy the Australian casino operator.

The company released the following statement:

"Following the premature disclosure of preliminary discussions, Wynn Resorts has terminated all discussions with Crown Resorts concerning any transaction."

SYDNEY (AP) -- Las Vegas casino giant Wynn Resorts is in talks to buy Australia's largest casino operator, Crown Resorts.

Crown, which owns casinos in Melbourne, Perth and London and will soon open another in Sydney, confirmed in a statement Tuesday it was in confidential takeover discussions over a cash-and-scrip offer from Wynn.

It said the offer had an implied value of $10.58 ($14.85 AUD) per share, valuing Crown at around $7.83 billion ($10 billion AUD)... Read More

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Submitted by 8NewsNOWStaff

Tuesday, April 2nd, 2019, 12:32pm

A report by Massachusetts casino regulators has found that Wynn Resorts executives concealed for years allegations of sexual misconduct against company founder Steve Wynn.

The report by the state Gaming Commission's investigative team doesn't make a recommendation to regulators but concludes by saying the five-member panel should evaluate the company's recent reforms in the context of the report's findings.

The report was released Tuesday as the commission opened a series of hearings on whether Wynn officials knowingly hid information about the allegations, which Steve Wynn has denied, when it sought a casino license in 2013. The hearings have implications for Encore Boston Harbor, the $2.6 billion Boston-area resort the company plans to open in June.

Wynn Resorts didn't dispute the facts of the nearly 200-page report and said it represents a "complete review."... Read More

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Nevada casino revenue flat in February, tops $1B

Submitted by 8NewsNOWStaff

Thursday, March 28th, 2019, 1:13pm

State regulators say gambling revenue at Nevada casinos remained flat last month but still exceeded $1 billion.

Data released Thursday by the Nevada Gaming Control Board show casinos across the state took in $1.02 billion in February, down 0.62 percent compared with the same month last year.

Casinos on the Las Vegas Strip saw their revenues decrease almost 2 percent to $591.7 million.

Meanwhile, casinos around Lake Tahoe reported significant revenue decreases in February, when severe winter weather affected the area.

Revenue at casinos in North Lake Tahoe dropped 24.7 percent to $1.4 million. Those on the south shore in Stateline saw winnings decrease 26.6 percent to $14.5 million.

The state benefited with $59.6 million in percentage fees based on taxable revenues generated in February. That's up 35 percent from a year earlier. ... Read More

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Submitted by 8NewsNOWStaff

Wednesday, March 27th, 2019, 3:15pm

A woman was injured after authorities say she fell off a roller coaster inside Circus Circus Adventuredome earlier this week.

The ride is now closed and under investigation and many questions remain about what happened.

The " El Loco " roller coaster opened in Feb. 2014.

While the investigation into what happened Monday is ongoing, 8 News Now wanted to learn more about the ride itself.

Documents obtained by 8 News Now show " El Loco " was last inspected in January by an approved third party and was " found to be in substantial compliance " with all codes.

The Clark County Department of Building and Fire Prevention has regulatory oversight on all amusement and transportation systems.

The county says rides on the Strip are inspected annually and there are additional, unannounced inspections that can be performed.

" It's kind of disturbing, " said Kevin Gaddy , tourist... Read More

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Submitted by 8NewsNOWStaff

Tuesday, March 26th, 2019, 7:13pm

Circus Circus has closed one of its rides one day after a person had an accident on it. According to authorities, a person fell from the El Loco Roller Coaster Monday.

"We are incredibly saddened that one of our Adventuredome guests was injured and our hearts go out to the guest and her family. Safety is our top priority, and the ride in question is closed until further notice as this incident is investigated."

El Loco is a steel roller coaster in the Adventuredome amusement park at Circus Circus.

The following statement was sent about the accident:

No other details were released.

Below is video of the ride... Read More

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