Last week, Horseshoe Baltimore found itself a sitting duck during the civil disturbances that followed the death of Freddy Gray. With police imposing a 10 p.m.-5 a.m. curfew, Horseshoe had no choice but to curtail its operating hours, closing at 9 p.m. for five nights. Since the casino is struggling and parent company Caesars Entertainment is in bankruptcy (although not the subsidiary that owns the plurality of Horseshoe Baltimore), management would have a very good excuse not to pay its employees for the hours the casino was dark.
This is where management rose to the occasion, Continued >>
MGM Resorts International isn’t hurting for cash, having just posted a $170 million profit for 1Q15, far outstripping analysts’ projections (and despite an 11% falloff due to Macao). However, its Crystals shopping mall is back on the market, carrying a $1 billion price tag. The protracted absence of the Conexpo-Con/Agg show — not due back until 2017 — was another hurdle MGM overcame. The company also achieved a benchmark: the first-ever dividend payout on CityCenter to the tune of $400 million. You can say that the ‘new urbanism’ experiment was a long-shot bet by CEO Jim Murren that finally came in.
Murren wasn’t busting any numbers out on Continued >>
“The amazing thing about Las Vegas is how soon it forgets itself because it keeps reinventing itself.” — Splash choreographer Jeff Kutash on the closing of the Riviera, which took place at noon yesterday.