{"id":61686,"date":"2017-10-26T18:45:56","date_gmt":"2017-10-27T01:45:56","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=61686"},"modified":"2017-10-26T22:28:54","modified_gmt":"2017-10-27T05:28:54","slug":"caesars-executives-divulge-big-plans-post-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/caesars-executives-divulge-big-plans-post-bankruptcy\/","title":{"rendered":"Caesars Executives Divulge Big Plans Post-Bankruptcy"},"content":{"rendered":"

After a nearly three-year long battle to emerge from bankruptcy, executives at Caesars Entertainment Corporation<\/a> spent 90 minutes with institutional investors in New York City on Tuesday detailing the future.<\/p>\n

\"Caesars
Caesars CEO Mark Frissora addressed institutional investors Tuesday and discussed the company\u2019s plans now that they have emerged from bankruptcy. (Image: Facebook)<\/figcaption><\/figure>\n

President and CEO Mark Frissora addressed the group for the first time since the merger between Caesars Acquisition Company and Caesars Entertainment Operating Company Inc. became official on October 6.<\/p>\n

He talked about a variety of subjects, but focused on the casino giant\u2019s plans for growth. The resorts in the company\u2019s portfolio were stuck in a holding pattern since the January 2015 Chapter 11 filing. Now the CEO is eager to move ahead with everything from room renovations to acquiring entertainment and celebrity chefs.<\/p>\n

\u201cThis marks the next chapter in growth for Caesars and it would not be possible without the help of everyone in the company,\u201d he said on Tuesday just before he rang the opening bell at Nasdaq. \u201cThanks to all of them we are a stronger company today with reduced debt, a continuous improvement culture, strong free cash flows, well capitalized assets and a leadership position in our industry. We are going to get stronger still as we continue to invest in growth.\u201d<\/p>\n

Big Plans<\/h2>\n

Growth was a theme of Frissora\u2019s talk and while he was vague in some of Caesar\u2019s plans<\/a> he gave clear insight into others.<\/p>\n

He said 10,000 Las Vegas hotel rooms are currently being renovated and there are plans to recruit more celebrity chefs and musical acts.<\/p>\n

They are the No. 3 live entertainment promoter in the city and have performers such as Jennifer Lopez, Celine Dion, Elton John and Britney Spears all under contract. The duo of Penn and Teller play at the Rio and are the second highest paid magicians in the city at $31.5 million annually.<\/p>\n

Another plan that was announced was the continuing efforts to build a 300,000-square-foot convention facility in what currently is a parking lot next to the High Roller.<\/p>\n

Other developments that weren\u2019t specified but are on the drawing board include seven acres in front of Caesars Palace, 39 acres adjacent to The Linq and about 50 acres near Bally\u2019s, Paris and Planet Hollywood.<\/p>\n

The company also has the goal of expanding more outside of the US. Frissora said there are intentions for new resorts in South Korea, Japan and Brazil.<\/p>\n

Affected by Route 91 Shooting<\/h2>\n

One topic that Frissora reluctantly addressed was the tragic Route 91 shooting on October 1. Though it wasn\u2019t at a Caesars property, but at the MGM Resorts owned Mandalay Bay, he said everyone in town has been affected.<\/p>\n

\u201cIt\u2019s fair to say we are cautiously optimistic about the rebound and think the occupancy rates across the Strip took a little hit the first day and week,\u201d he said. \u201cBut every day seems to change and improve. The meeting business is solid. There have been no cancellations for the year.\u201d<\/strong><\/p><\/blockquote>\n

There has been a drop in visitors from Asian countries but he said they expect that to pick up soon.<\/p>\n

\u201cThe biggest impact has been in Asian play,\u201d he said. \u201cIt has been less because people in Asia are very respectful of the deaths that have occurred and believe there should be a period of mourning.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

After a nearly three-year long battle to emerge from bankruptcy, executives at Caesars Entertainment Corporation spent 90 minutes with institutional investors in New York City on Tuesday detailing the future. President and CEO Mark Frissora addressed the group for the first time since the merger between Caesars Acquisition Company and Caesars Entertainment Operating Company Inc. […]<\/p>\n","protected":false},"author":42,"featured_media":61695,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\nCaesars Executives Divulge Big Plans Post Bankruptcy<\/title>\n<meta name=\"description\" content=\"Caesars Entertainment has come out of its two-year bankruptcy proceedings and executives have outlined plans for the future.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caesars Executives Divulge Big Plans Post Bankruptcy\" \/>\n<meta property=\"og:description\" content=\"Caesars Entertainment has come out of its two-year bankruptcy proceedings and executives have outlined plans for the future.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/caesars-executives-divulge-big-plans-post-bankruptcy\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-27T01:45:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-10-27T05:28:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/10\/100921367-20130728-4679-20-1.530x298.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"530\" \/>\n\t<meta property=\"og:image:height\" content=\"298\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-executives-divulge-big-plans-post-bankruptcy\/\",\"url\":\"https:\/\/www.casino.org\/news\/caesars-executives-divulge-big-plans-post-bankruptcy\/\",\"name\":\"Caesars Executives Divulge Big Plans Post Bankruptcy\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-executives-divulge-big-plans-post-bankruptcy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-executives-divulge-big-plans-post-bankruptcy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/10\/100921367-20130728-4679-20-1.530x298.jpg\",\"datePublished\":\"2017-10-27T01:45:56+00:00\",\"dateModified\":\"2017-10-27T05:28:54+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Caesars Entertainment has come out of its two-year bankruptcy proceedings and executives have outlined plans for the future.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-executives-divulge-big-plans-post-bankruptcy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/caesars-executives-divulge-big-plans-post-bankruptcy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-executives-divulge-big-plans-post-bankruptcy\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/10\/100921367-20130728-4679-20-1.530x298.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/10\/100921367-20130728-4679-20-1.530x298.jpg\",\"width\":530,\"height\":298,\"caption\":\"Caesars CEO Mark Frissora addressed institutional investors Tuesday and discussed the company\u2019s plans now that they have emerged from bankruptcy. 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