Caesars CEO: Atlantic City has too many casinos - KMSP-TV

Caesars CEO: Atlantic City has too many casinos

Posted: Updated:

By WAYNE PARRY | AP

ATLANTIC CITY, N.J. (AP) -- The CEO of Caesars Entertainment said Atlantic City has too many casinos, and that one or more needs to close.

Gary Loveman said Atlantic City has been the biggest problem for the global casino company for the last several years, and that one option is to reduce capacity. But what he didn't specify during an earnings conference call Wednesday was whether one of Caesars' four Atlantic City casinos should close, or whether the company might seek to buy someone else's casino and put it out of business, like it did in January with The Atlantic Club.

A company spokesman said Caesars is looking at all its options to reduce operating costs in Atlantic City.

Caesars owns four of the 11 casinos in Atlantic City (Harrah's, Bally's, Showboat, and Caesars).

  • New Jersey NewsNew Jersey NewsMore>>

  • Thousands come out for Blake Shelton's free beach show in Atlantic City

    Thousands come out for Blake Shelton's free beach show in Atlantic City

    Friday, August 1 2014 4:29 PM EDT2014-08-01 20:29:15 GMT
    Country music star and "The Voice" coach Blake Shelton played a free concert on the beach in Atlantic City in front of more than 60,000 fans Thursday night, promoters said. He performed on a stage build on the beach near The Pier at Caesars. Fans that couldn't get into the beach area could hear and watch from the Boardwalk and from boats moored in the water nearby.
    Country music star and "The Voice" coach Blake Shelton played a free concert on the beach in Atlantic City in front of more than 60,000 fans Thursday night, promoters said. He performed on a stage build on the beach near The Pier at Caesars. Fans that couldn't get into the beach area could hear and watch from the Boardwalk and from boats moored in the water nearby.
  • Home owned by Trump holdout sells at auction

    Home owned by Trump holdout sells at auction

    She once called Donald Trump "a maggot, a cockroach and a crumb." This week, he remembered her as "an impossible person."
    An Atlantic City-area real estate figure has bought at auction a property that earned its owner near-folk hero status for resisting decades of overtures from developers...
  • Passaic recreation director arrested

    Passaic recreation director arrested

    Friday, August 1 2014 1:46 PM EDT2014-08-01 17:46:39 GMT
    Authorities in northern New Jersey say a longtime recreation director has been charged with extorting sports teams who wanted to join city leagues.
    Authorities in northern New Jersey say a longtime recreation director has been charged with extorting sports teams who wanted to join city leagues.
Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices