Best Nevada Casino News

Reno’s Eldorado Resorts was in the news earlier this year with the company’s pending merger with Caesars Entertainment. That deal is still moving through the regulatory process but it is expected to be finalized by next summer. Eldorado would be the principal after assuming $8.8 billion of Caesars’ debt. This is part of the $17 billion deal that included cash and stock.

In a post on Yahoo Finance from the financial analyst company Zacks, Eldorado faces a number of issues moving forward. As a result, Zacks is rather bearish on the company’s stock. Much of this stance is based on the most recent financial results.

How Is Eldorado Resorts Stock Stymied By Company Debt?

The Las Vegas gaming industry in general has hit a few bumps in the road lately. The casino gambling capital of the world is deriving more and more revenue from non-gaming entertainment options. Shopping, dining and live entertainment are on the rise. Gambling activity on its own has suffered some losses. Real money casino gambling is no longer the primary focus among the biggest resorts in Las Vegas these days.

Zacks noted that commercial gaming revenue in the US hit an all-time high in 2018 at $41.7 billion.

Outside pressure from the rest of the country has cut into Las Vegas over the past few decades. While gambling revenues have grown during this expansion, overall profits are down. This is due to the tremendous cost involved in new casino investments.

Eldorado Resorts draws most of its revenue and profit from Nevada. However, it owns and operates 26 gaming and entertainment properties across 12 states. Gambling still remains the main source of revenue. Hotel accommodations, restaurants, entertainment and other amenities are all utilized to attract gaming customers.

Las Vegas gaming companies have done a much better job at shifting revenue from gambling to those other profit centers. Eldorado’s casinos are spread across smaller markets and closer to urban centers. The company acquired nine new properties in 2018 at a cost of $1.2 billion. Within the past two years, the buying spree includes 19 of the company’s 26 properties. Eldorado’s total debt in 2016 was $800 million.

That ballooned to $3.6 billion at the end of last year. Add in this year’s mega deal with Caesars and investors should be concerned with the company’s total debt.

Going back over Zacks Consensus Earnings Estimate for the past several years, Eldorado has consistently missed the mark. The company’s share price took a big hit in the last two quarters of 2018. To the point where half the value was lost. Trading this year sparked a rally but future increases could be hard to come by.

Recent declines in earning estimates for 2019 and 2020 has caused Zacks to rank Eldorado Resorts #5 (Strong Sell). The Caesars’ deal is the driving force of poor stock ratings among several industry analysts. The current debt is a strong deterrent to the company’s ability to compete. Adding to the concerns is the overall downward forecasts for the gaming industry.

Owned by Caesars, Rio Hotel and Casino in Las Vegas has earned a reputation for being a bit on the wild side. Considering all the temptations offered by the casino gambling capital of the world, that is saying something. Located on I-15 just off the famous Las Vegas Strip In Nevada, Rio has been able to carve out its own unique piece of the pie when it comes to first-rate entertainment.

How West Coast Meets East Coast At The Rio’s 172 Live Music?

172 Live Music is a new music venue, restaurant and nightlife bar all rolled into one. It has been described as a “Sunset Boulevard rock-n-roll club meets Madison Avenue restaurant and bar” mixing the best of both coasts. Patrons can drink and dine while listening to live bands playing everything from rock, funk, Motown, alternative and Latin. All the music is designed to keep the party going deep into the night.

Bar manager Ahmad Butt and head bartender Chris McDonald were tasked with creating cocktails that fit the theme. Butt was quoted as follows:

“The owner, Tony Sgro, had an idea about serving upscale cocktails with a rock-n-roll atmosphere. So we focused on a craft cocktail program.” Also added to the mix is a whiskey program with the use of over 50 different labels. A few of the noted highlights are:

1. Blanton’s bourbon
2. Yamazaki 12-year Japanese whiskey
3. Basil Hayden dark rye

The signature cocktail menu fits the bill. It features fun rock song names with top-notch recipes. The Smoke on the Water is a mix of bourbon, rye or whiskey with bitters and orange peel along with a drunken cherry. This is modeled after the classic Old Fashioned. However, the presentation includes the drink in a small box filled with swirling smoke.

Another example just in time for summer is the Raspberry Beret. This is a sweet blend of raspberry vodka, fresh raspberries, raspberry gum syrup, Chambord and pineapple, cranberry and lemon juices.

One signature drink is a tribute to funk master Bootsy Collins. The drink is a play on a Tom Collins mixed with gin, passionfruit syrup, lemon and lime juices with club soda. The twist is a Curaco float and a garnish of star-shaped orange peels to represent Bootsy’s famous sunglasses.

When it comes to his bartenders’ limits, Butt went on to add:

“I’ve brought in the mad-scientist bartenders who’ve always wanted to make amazing drinks. And, I’m like ‘this is your playground to do that’.”

When it comes to draught beer, all the selections are from local breweries. A example given was a shandy made with Banger Brewing’s El Heffe jalapeno hefeweizen.

Top-rated executive chef Joe Richardson is co-owner and also in charge of the dining menu. He has over two decades of experience in Japanese cuisine. His menu at 172 offers traditional Japanese offerings with a Latin influence.

His thoughts on the entire presentation 172 Live Music offers Las Vegas patrons are:

“We wanted to do a really cool music venue along with cool food not just burgers and hot dogs. We wanted something that’s a dining experience, cocktails, with amazing entertainment at the same time.”

OJ Simpson has been keeping a pretty low profile since his release from prison a few years ago. However, he was in the news recently for an incident in 2017 at a Las Vegas casino & hotel resort. It appears that OJ Simpson is suing the Cosmopolitan in Las Vegas for defamation of character.

This all stems from him being ejected from the casino for “drunk and disruptive” behavior in that 2017 incident. The lawsuit was filed last Tuesday. It claims that the report was untrue. He says the charges were derived to keep him out of the casino. They also “painted him in a false light by defaming and embarrassing him.”

Which Las Vegas Casino Is OJ Simpson Suing?

TMZ is a popular celebrity gossip sight. They first reported this story with Simpson denying that it happened. Soon after, more and more news outlets ran the story as well. According to TMZ, Simpson was thrown out of the Cosmopolitan on Nov. 9, 2017. He was in the casino’s Clique bar and “hotel staff told us” he was drunk and disruptive”. He was also angry at the bar’s employees and “glasses broke at the bar.”

According to the report released by TMZ, “security showed up and removed Simpson from the hotel.” They added, “We’re told Simpson was nice responding to security guards. Still, we’re told he’s been permanently banned from the Cosmopolitan.”

Part of a group that stole some sports memorabilia from the Palace Station Casino?

Simpson has been a Las Vegas resident since his release from prison. He spent almost a decade behind bars for his role in a robbery. He was part of a group that stole some sports memorabilia from the Palace Station Casino. They items were stolen from guests at gunpoint in one of the hotel rooms.

Drinking to excess could be considered a violation of his parole. If pursued, he could face an additional 24 years in jail. Simpson’s lawsuit against the Cosmopolitan casino in Nevada states that he completed a drug and alcohol test a day after the incident. He also passed that test with his parole officer present.

Determined that the Cosmopolitan’s assertions against Simpson were false?

The Nevada Department of Parole and Probation determined that Simpson did not violate, and of the terms of his parole. That department also “determined that the Cosmopolitan’s assertions against Simpson were false.”

Since that point, the Cosmopolitan has never issued any public statement about their permanent ban. The only claim was “private property the night of the issuance of the trespass notice.” The lawsuit describes the plaintiff as a “well-known public figure” who “has experienced various legal problems.”

The suit also claims that Simpson is a “model” parolee and citizen of Las Vegas. He has received an “extremely warm and positive reception by many.”

In January of 2018, Simpson’s lawyer told various media sources that his client intended to sue the casino for up to $100 million. The claim was defamation and racial discrimination. According to the most recent filing, Simpson is seeking at least $30,000 along with punitive damages. He still owes more than $70 million to the families of Nicole Brown Simpson and Ron Goldman. That was the result of a civil suit against him for their murders.

• Source: O.J. Simpson files lawsuit against Las Vegas Strip hotel-casino From Ktnv.com On November 8, 2019.

The Cannery Casino & Hotel in Las Vegas Nevada is usually filled with fun and awesome betting action. People from all over the world come to visit, stay, play and gamble at this retro-themed casino hotel. After all, it is only ten minutes away from Downtown, and you can get the full Fremont Street Experience.

That said, a few nights ago, the Cannery casino saw some very different action. Women was kicked out of the resort for trespassing (according to North Las Vegas police officer Eric Leavitt). It seems she was so angry that she got in her RV the next morning and drove it through the front entrance of the Cannery casino resort. To make matters worse, it seems that she hit a janitor with her RV. According to a news video on Fox news, the janitor worked at the resort. As a result, angry women may be charged with attempted murder.

According to the news report, when the casino employes tried to get her out of her RV, was not very cooperative. After a while, the police finally got her out and brought her to the Las Vegas City Jail. To add insult to injury, Las Vegas PD seems to be booking her on an attempted murder charge.

According to a casino employee, Mrs. Sitt is sixty-six years old woman. It appears she was so angry she was kicked out for trespassing, she kept her foot on the gas pedal. If that isn’t bad enough, it seems Mrs. Sitt kept trying to push the gas pedal even after she hit the custodian. The casino employees were able to remove Mrs. Sitt from her RV before the police arrived on the scene. Luckily, the custodian is okay and is said to make a full recovery.

The Las Vegas Police Officer, Leavitt said that the NLVPD was already at Cannery resort casino for something completely different. While the employees acted swiftly, the cops were able to respond quickly and efficiently. Unfortunately, the custodian was littery found underneath Mrs. Sitt’s RV and was in critical condition.

According to the Las Vegas police department, they shit down the entrance portion of the Cannery casino to investigate this crime further.

• Source: Woman arrested after RV crash into Cannery Casino in North Las Vegas From Fox5vegas.com On October 25, 2019.