Caesars Entertainment Sparks Debate Over Newly Acquired casino

Caesars Entertainment recently acquired Revel Casino and this isn’t sitting well with many influential figures in the state. This comes after Tropicana and Caesars made the decision to purchase the Atlantic Club only a few months ago with the intention of shutting its doors so that the customer base could be redirected to their own.

Jim Whelan States Caesars Transgressing the Law

According to the New Jersey State Senator, Jim Whelan, this acquisition by Caesars Entertainment is against the law because it puts an undue amount of economic concentration on the remaining casinos within Atlantic City. Caesars is already operating 4 of the 11 casinos that are currently being run in Atlantic City. Whelan has made his feelings on the matter very clear, stating that he believed this would lead the entire casino market within Atlantic City to become too dependent on one company.

Caesars Under Debt Strain

Whelan is not only concerned about Caesars holding somewhat of a monopoly in Atlantic city; he is also concerned about the enormous amount of debt that is currently putting Caesars under so much strain. It is reported that the company is currently dealing with a $24 billion debt load and many are unsure about how long it will be able to keep up.

Whelan has stated that instead of purchasing Revel Casino, it might be better for the company to allow other buyers to step in and take over. He hopes that this new company might be a newcomer to Atlantic City – one that doesn’t already have a base within this city. One example of this might be Hard Rock International, who has shown a lot of interest in the casino.

Caesars Files Lawsuit Against Stephen Crosby

Just about everyone in the online gambling world will most likely be aware that Caesars was recently denied a Boston casino license, and the company has filed a suit against Stephen Crosby, the chairman of the Massachusetts Gaming Commission because they believe Crosby falsified statements to ensure a competitor, Wynn Resorts, came out on top. This has led to a barrage of insults between both companies that haven’t improved Caesars’ overall reputation in the industry.

Pennsylvania Casino in Trouble

Meanwhile, in Pennsylvania, Caesars is having a tough time keeping their local casino afloat after the gaming regulators within the state forced them to close their racetrack. According to the Pennsylvania Harness Racing Commission, it was said that Harrah’s Philadelphia had failed to maintain their track, which posed a danger to riders and their horses. The senior VP for Caesars, Jan Jones, states that this issue will be resolved by March 8, when the next racing season is set to begin.

Caesars Picks Inflammatory Name for New Property

The company recently made the choice to name one of their new properties “The Cromwell”, a name that is synonymous with persecution and genocide in Ireland. This isn’t sitting well with the Irish, but it seems too late to turn back now.

Caesars haven’t had a good start to 2014, although it remains to be seen whether they will be able to turn this around.