Posts Tagged ‘Caesars’

Poker For Hope Coming To Caesars Palace This May

On Saturday, May 17 in the Caesars Palace poker room in Las Vegas, the first annual Poker For Hope charity tournament will take place, benefiting cancer charities Tia’s Hope, The Life Raft Group and Phase One.

The $ 500 buy-in event, which kicks off at 12:30 p.m. and will be hosted be former WSOP champion Jamie Gold, gives players two days of poker fun.

The first 100 players to register will be invited to attend a private VIP Celebrity Improv Show at Cleopatra’s Barge on Friday, May 16 starring Cheryl Hines, Kevin Pollack, Willie Garson, Larmorne Morris, Kevin McHale and Sara Rue. The first 175 players to register will get tickets to the Friday night showing of Absinthe.

Every player who registers for the event will be invited to attend a private poker lesson with Antonio Esfandiari. The $ 60,000 prize pool includes a $ 25,000 first-place prize and 10 separate $ 1,000 bounties on celebrity and pro players, which will be gambled on a hand or spin of roulette or blackjack.

To sign up, please visit www.pokerforhope.com.

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Published on 12:30 pm by Administrator

Category: Poker

Tags: , Caesars, Coming, Hope', Palace, Poker, This

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Caesars Applies For Casino License In New York

Caesars Entertainment Corp. is looking to expand to the state of New York, which authorized four Las Vegas-style commerical casinos last year.

According to reports, Caesars is eyeing a $ 750 million project around 50 miles north of Midtown Manhattan. The application cost the firm $ 1 million.

The project would be built in the town of Woodbury, N.Y.

The New York Times reported that 16 firms have so far expressed interest in building in Upstate New York. Four are looking at the same county as Caesars.

Some are worried that more gambling would hurt the existing gambling industry in New York, and thus not benefit the economy like the governor has predicted.

Right now, Caesars has four casinos in Atlantic City and a racino in Philadelphia.

The New York Times reported that Las Vegas Sands, MGM and Boyd Gaming also considered building in upstate New York, but only Caesars decided to apply.

Caesars is currently building a casino in Baltimore. Not long ago, the firm backed out of a plan to pursue a casino in Boston. Caesars has more than 50 casinos worldwide.

The World Series of Poker is owned by an offshoot of Caesars.

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Published on 12:30 am by Administrator

Category: Poker

Tags: , Applies, Caesars, casino, License, York

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Caesars Alleges Mass. Gaming Regulator Personally Asked Steve Wynn To Remain In Race For Casino

Caesars Entertainment Corp. recently filed an amendment to its lawsuit against the chairman of the Massachusetts Gaming Commission.

The firm has now accused the state’s top gaming regulator of personally calling Steve Wynn, owner of Wynn Resorts, to encourage him to remain in the hunt for a casino in the Boston area. Caesars was once in the race, but withdrew after regulators expressed concern over the company’s business activity.

Caesars has denied any wrongdoing in matters related to the regulatory investigation.

“Notwithstanding his statutory role as the unbiased overseer of the Massachusetts gaming license application process, [Stephen] Crosby, in the company of another commissioner, took it upon himself to place a call to Wynn and to ask Wynn to remain in the Massachusetts licensing process,” Caesars attorneys wrote in the federal lawsuit.

Wynn took it upon himself last week to deny the claim.

“At no time has any member of the Massachusetts Gaming Commission ever initiated contact with me and I have never been discouraged from withdrawing from the licensing process in Massachusetts,” Steve Wynn said in a statement.

He added: “This lawsuit and the misrepresentations included within it are a shameless, desperate attempt by Caesars to deflect attention from the serious issues raised in their investigation, including their current financial condition.”

Wynn was once frustrated by the Commission’s comments and questions regarding Macau.

The Las Vegas Review-Journal has more on the story.

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Published on 5:30 pm by Administrator

Category: Poker

Tags: , Alleges, Asked, Caesars, casino, Gaming, Mass., Personally, Race, Regulator, Remain, Steve, Wynn

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Caesars Entertainment Files Lawsuit Against Massachusetts Gaming Commission Chairman

MGC Chairman Stephen CrosbyIn late October, Caesars Entertainment announced that it was no longer pursuing their partnership with Suffolk Downs Racetrack to bring a casino to the Boston area after the Massachusetts Gaming Commission expressed concerns about one of Caesars’ subsidiaries.

Caesars, which denied any wrongdoing, has now filed a lawsuit against MGC Chairman Stephen Crosby, whom they believe is playing favorites with the casino license. According to the lawsuit, Crobsy failed to disclose a friendship and business relationship with Paul Lohnes, a part-owner of land for a potential casino operated by Wynn Resorts.

Ironically, Wynn has considered backing out of their $ 1.3 billion project in Everett, Massachusetts because the company reportedly finds the regulatory process in the state unjustifiably strict.

At the time of their withdrawal from the Massachusetts casino license bid, Caesars CEO Gary Loveman criticized the commission for their state investigators’ findings in a suitability hearing.

“It’s going to be very difficult for sophisticated, multi-jurisdictional operators to tolerate the environment this commission has created,” Loveman said.

The lawsuit claims that Crosby has caused both “reputational and economic injury” and that he “deprived plaintiffs of their due process and equal protection rights and tortiously interfered with plantiffs’ relationship with Suffolk Downs and right to fair consideration in the gaming suitability process.”

Since the competition for licenses in the state started in 2012, casino giants such as Ameristar, Hard Rock, Penn National Gaming and Mohegan Sun have all given up on Las Vegas-style gaming projects.

MGM Resorts International is still hoping the MGC finds them suitable for a license in Springfield, though a 500-page report by investigators found issues with the company’s dealings in Macau, among other concerns.

Massachusetts passed a gaming act in 2011 that would allow for three regional casinos and one slot parlor. The MGC hopes to issue their first license by late February, 2014.

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Published on 11:30 am by Administrator

Category: Poker

Tags: , against, Caesars, Chairman, Commission, Entertainment, Files, Gaming, Lawsuit, Massachusetts

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No Bankruptcy Protection For Caesars; Snags Crucial Online Poker License In New Jersey

Nevada-based Caesars Entertainment Corporation has had a pretty good week.

First, the Las Vegas Review-Journal reported that bankruptcy protection is not in the cards for the mammoth company, at least according to its chief executive officer.

“The conditions the company faces today are better and not worse than they have been before,” Gary Loveman reportedly said. “We don’t have any significant debt maturities until 2018. We’re much better structured. There is nothing that would trigger a liquidity crisis. We don’t have anything like that.”

The firm has an industry-leading $ 23.7 billion in “long-term debt”.

“These same people have been predicting the bankruptcy of the company since 2009. So far, they have been unsuccessful in having that prediction made accurate,” Loveman added.

Fast forward about a week, and Caesars received an online gambling license in the Garden State, which will start a trial run for online games tomorrow.

Caesars operates a handful of casinos in New Jersey. Like its WSOP-branded online poker site in Nevada, 888 Holdings will run the software and manage back-end duties.

Thanks to poker on the web, some believe that Caesars’ WSOP brand could end up being its most valuable asset. The firm now holds live bracelet events in multiple parts of the world.

So far, seven casinos in Atlantic City have been approved for online poker.

The recent headlines for the company have been extremely positive after late last month it was announced that the firm would no longer be pursuing a project in Boston.

Regulators in that state were concerned about a connection the firm had to a shady individual in another firm it was doing business with. Loveman subsequently blasted the state for its regulatory position, which some have said is too cumbersome and without merit.

Caesars is also in the process of construction a casino in Baltimore, Marlyand.

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Published on 5:30 pm by Administrator

Category: Poker

Tags: , Bankruptcy, Caesars, Crucial, Jersey, License, Online, Poker, Protection, Snags

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Caesars Has $761.4 Million Net Loss In Third Quarter

Caesars Entertainment, owner of the esteemed World Series of Poker brand, saw a net loss of $ 761.4 million in the third quarter, according to reports this week. Revenue was $ 2.18 billion.

Those figures were worse than expected.

The casino firm said that competition for gamblers was a big reason for the performance.

Recently, Caesars ceased its pursuit of a new casino in Boston, after regulators there expressed concerns about the project. The move was surprising for many in the casino world.

Caesars has an industry leading amount of long-term debt (around $ 23.5 billion), but it has been making moves to reduce the figure.

The company recently saw its subsidiary launch real-money online poker in Nevada. The company will be involved with such activity in New Jersey as well, which kicks off games late next month. There is expected to be a Nevada-New Jersey partnership for web poker.

The Nevada-based gaming giant has dozens of casinos across the United States.

Some good news for the company: Ground was broken recently on its new casino in Baltimore and reports are that the construction process is going well.

In addition to stiffer casino competition, Caesars attributed the higher-than-expected third quarter loss to selling its piece of a casino in Uruguay

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Published on 12:30 pm by Administrator

Category: Poker

Tags: , $761.4, Caesars, Loss, Million, Quarter, Third

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Caesars Entertainment Still Expecting Online Poker Launch This Summer

The month of July has ended and the poker world is still waiting on the launch of a World Series of Poker-branded online poker site to hit the Internet in Nevada.

Though there hasn’t been any new updates since Caesars Entertainment Corp. not long ago said that it planned to launch the games this summer, the firm’s CEO Gary Loveman did say in an earnings call this week that he still expects the product to debut this quarter.

“We are excited about our prospects in 2014 and beyond, particularly in light of the improving economic conditions and consumer sentiment, favorable underlying business trends and projects that are scheduled to come online,” Loveman added in a press release.

The summer World Series of Poker just ended in Las Vegas, where poker players were allowed to pre-register for online poker accounts.

A few weeks ago, Caesars received approval by Nevada regulators to spin off its Internet gambling business — Caesars Interactive Entertainment.

Although it hasn’t been officially announced yet, it is widely assumed that Caesars is one of the 37 companies that has officially expressed interest in the upcoming New Jersey online gaming industry, which is set to kick off with at least operator this fall.

Both Nevada and New Jersey products would be intrastate at first, but both jurisdictions plan to former partnerships with others in order to create greater liquidity for the industry. Online poker especially requires a large player pool in order for games to flourish.

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Published on 12:30 pm by Administrator

Category: Poker

Tags: , Caesars, Entertainment, Expecting, Launch, Online, Poker, Still, Summer, This

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Caesars Gets Approval To Spinoff Internet Gambling Division, Casinos

Caesars Entertainment Corp. received preliminary approval by Nevada gambling regulators to spinoff Planet Hollywood casino, located on the Las Vegas Strip, Caesars Interactive Entertainment, which is the company’s online gambling division, and its new casino project in Baltimore, Maryland into a separate company, the Las Vegas Review-Journal reported.

By making the move, the company will raise $ 1.18 billion thanks to selling shares. It’s more than $ 21 billion in debt, however.

Caesars has the popular World Series of Poker brand under its control, and could be launching an online poker product in the Silver State in the near future. The World Series of Poker is currently underway in Las Vegas.

The parent company is one of the largest commercial operators in the world.

Gambling regulators voted 3-0 in favor of the move. The state’s five-member Gaming Commission will make a final decision later this month.

According to the Review-Journal, the stack of Caesars has been strong this year, thanks to some of the moves. It has more than doubled in value.

Some of the company’s proprieties include Caesars Palace and the Rio Hotel and Casino in Las Vegas. In the state of Ohio, Caesars partnered with Rock Gaming to bring casinos to Cleveland and Cincinnati.

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Published on 12:30 pm by Administrator

Category: Poker

Tags: , Approval, Caesars, Casinos, Division, Gambling, Gets, Internet, Spinoff

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Caesars Interactive Entertainment Buys Out Electronic Arts For World Series of Poker Mobile App

Caesars Interactive Entertainment has bought the rights to the World Series of Poker mobile app, which boasts 6 million downloads, according to a press release.

The app was previously owned by Electronic Arts. Caesars is purchasing the app in an effort to expand their presence in free-to-play social and mobile gaming. The app is available for download on Facebook, the Amazon Kindle, Android devices, and all IOS devices.

There has been a lot of talk among poker players about the legalization of online poker in the United States, which was made illegal after the justice department shut down popular online poker on Black Friday.

Caesars continues to lobby lawmakers in hopes to legalize online poker in the United States. However, despite their efforts, Senate majority leader Harry Reid finds it unlikely that anything will happen on the federal level.

“I felt for several months now that I don’t see any movement on this,” Reid said earlier this month. “I don’t see anything happening.”

Caesars is poised to launch real-money online poker in the near future in the state of Nevada.

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Published on 6:30 am by Administrator

Category: Poker

Tags: , Arts, Buys, Caesars, Electronic, Entertainment, Interactive, Mobile, Poker, Series, World

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Caesars Makes Move For New Jersey Internet Gaming

PokerStars made a strong play at getting a license for eventual New Jersey online poker, and now so has Caesars Entertainment Corp., according to the Press of Atlantic City.

Caesars, owner and operator of the World Series of Poker which takes place every year during the summer is Las Vegas, has applied for a New Jersey casino license that would eventually allow it to offer online gaming. The company is already licensed by the state of Nevada, but hasn’t yet begun its online business there. Caesars is headquartered in the Silver State, but also has properties elsewhere.

New Jersey Governor Chris Christie legalized online gambling in February after a long struggle with state lawmakers to get the bill just right.

The two companies have sort of squared off already, as the American Gaming Association, which represents the commercial casino industry, filed a motion to try to block PokerStars from purchasing a casino.

Another company expected to be in the New Jersey equation is MGM Resorts International.

So far, only three states have legalized online gaming. Those include Nevada and New Jersey, and also Delaware. Online poker is not legal on a nationwide level.

For more on the story check out the reporting from the Press of Atlantic City, and stay tuned to Card Player for more coverage.

For more info and tournaments from New Jersey, check out its stage page.

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Published on 6:32 pm by Administrator

Category: Poker

Tags: , Caesars, Gaming, Internet, Jersey, Makes, Move

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