Caesars’ bleeding detrimental to Nevada casinos

The Nevada Gaming Control Board (NGCB) revealed that the state’s 289 casinos reported a net loss of $1.17b in fiscal 2018, a huge swing from the $1.56b profit in fiscal 2017. Fiscal 2018’s net loss of the casinos also snapped Nevada’s two-year streak of annual profit increases. Senior GCB analyst Michael Lawton attributed Caesars’ restructuring of its bankrupt main unit as the cause of the incurred net loss.
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7th February 2019
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Nevada casinos blame fiscal 2018’s $1.2b loss on Caesars
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The Story

The Nevada Gaming Control Board (NGCB) revealed that the state’s 289 casinos reported a net loss of $1.17b in fiscal 2018, a huge swing from the $1.56b profit in fiscal 2017. Fiscal 2018’s net loss of the casinos also snapped Nevada’s two-year streak of annual profit increases. Senior GCB analyst Michael Lawton attributed Caesars’ restructuring of its bankrupt main unit as the cause of the incurred net loss.

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PRESS RELEASE

One week only! 20% off tickets to BiG, SBEA, and SBWA

Eventus International is giving a huge discount for those who will purchase tickets for its upcoming events before Friday, February 8, 2019.

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SHOUT OUT
Congratulations to Joelle Shearin for being appointed as the new GM and President for Hard Rock Hotel & Casino Lake Tahoe! Shearin, who has been in the casino and finance industry for the past 15 years, was recently Penn National’s Argosy Casino Alton’s VP and GM.
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