Caesars New Orleans Hotel & Casino News - Page 3

Boomtown Casino, a roughly 20-minute drive southeast of the French Quarter in Harvey, reopened in the aftermath to give storm-weary residents needed entertainment and to serve thousands of meals to law enforcement personnel, electrical crews and construction workers who were putting New Orleans back together.

New Orleans's smoking ban, which went into effect in April, is being blamed for a 16% decline in the casino's gaming revenue.

Including the properties managed under the Caesars Entertainment Operating Company, which is in bankruptcy, the conglomerate would still report a net revenue increase of 8%.

Smoking ban causes 30 percent drop in Harrah's New Orleans revenue.

Caesars Entertainment Corp. has made a deal with a group of creditors that would improve their recovery prospects when the bankruptcy reorganization is completed.

Caesars Interactive, owner of the World Series of Poker, has surpassed Zynga in terms of social gaming revenue.

On Monday, Caesars' shares declined 16 percent in the first trading day after Bloomberg News reported a federal judge handed a small victory to creditors seeking to collect $750 million from the casino company's bankrupt operating division.

Senate committee votes down bill that could have allowed Harrah's New Orleans to reduce job numbers.

Next month, New Orleans will ban smoking in most public venues within Orleans Parish, including bars, hotels, sports stadiums and restaurants. Harrah’s New Orleans is also on the no-smoking list.

The retirement plans were offered by businesses that were subsequently acquired by Harrah’s Entertainment in the company’s 2005 buyout of Caesars Entertainment for $9 billion.

It’s abundantly clear Caesars Growth Partners is key to the planned bankruptcy restructuring of overly leveraged affiliate Caesars Entertainment Operating Co.

On Monday, Caesars said it received a default notice last week from UMB Bank related to its senior-secured notes covering CEOC. Caesars said it “does not believe that a default or an event of default has occurred.”

Fitch Ratings Service said in a report, however, the spinoff won’t prevent Caesars from having to go through bankruptcy reorganization to restructure its $22.8 billion debt.

The company, which operates nearly 40 casinos in 14 U.S. states and the Canadian province of Ontario, is attempting to restructure its gaming industry-high $22.8 billion debt.

The transaction was approved Monday.

Harrah's casino saw its revenue rise in April, but it was not the same story across New Orleans other gambling venues.

The deal is akin to a transfer of assets from the parent company to a business that was created last year to help the world’s largest casino operator expand its presence while dealing with its gaming industry-high $23 billion of long-term debt.

Caesars Entertainment Corp. said Wednesday it lost $1.756 billion in the fourth quarter.

Bally's Las Vegas is one of three properties on the Las Vegas Strip that Caesars Entertainment Corp. is selling to its Caesars Growth Partners subsidiary. The other two are The Quad and The Cromwell. Harrah’s New Orleans also is involved in the sale

Harrah's New Orleans, Boyd Gaming Corp.'s Treasure Chest, and Pinnacle Entertainment's Boomtown New Orleans will voluntarily close indefinitely until further notice.