“Despite us talking about how this was a discretionary process for us, it created an unnecessary overhang in the stock,” Reeg said. He cited unfavorable market conditions and increasing cash flows of the property Caesars was considering selling as reasons for the change of heart. In a third quarter earnings call, Caesars CEO Tom Reeg said that, despite previous messaging that his company was looking to offload one of its Strip casinos, it is now going to stand pat. On Tuesday, we found out that one thing will stay the same in the immediate future: Caesars Entertainment is not going to sell any of its properties on the Las Vegas Strip. The United States casino industry has gone through changes in the last few years, as companies have bought and sold casinos, shut some down, and renamed others.
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