Contact Us
Make My Homepage

Caesars Looks at Cutting Costs in AC

Describing its properties in Atlantic City as being “under tremendous pressure,” Caesars Entertainment is looking at ways to cut costs.

Caesars Atlantic City
Caesars Atlantic City (Nick Valinote/Getty Images for HBO)

Chief Executive Officer Gary Loveman tells Bloomberg that its closing of a casino in Tunica, Mississippi could make it easier to shut down one of their four properties in Atlantic City: Caesar’s, Showboat,. Harrah’s and Bally’s.

“These markets can reach points when no new supply is indeed the right answer,” Loveman told Bloomberg News adding. “in some cases reducing supply is the right answer.”

The company has already made small cuts such as reducing restaurant hours.

Caesars Entertainment has reported a wider first-quarter loss as gambling revenue fell and the company’s casinos outside of Las Vegas faced stiffer competition and bad weather.

The Las Vegas-based company lost $386.4 million, or $2.82 cents per share in the period ending March 31. A year earlier it lost $217.6 million, or $1.74 cent per share.

All 11 of Atlantic City’s casinos have struggled, bringing in $221 million in March, down 7 percent from the same month last year. The Atlantic Club closed in January and Revel continues to look for a buyer. Caesar was rumored to be one of the interested buyers.


The Associated Press contributed to this report


Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.