Caesars officials downplay bankruptcy rumors
By Richard N. Velotta, Las Vegas Sun
The publisher of a newsletter about Las Vegas is encouraging readers not to put money down on hotel reservations or make deposits in casinos operated by Caesars Entertainment, citing the prospect of a bankruptcy filing.
Caesars owns Harrah’s and Harveys at Stateline.
“In an abundance of caution, this newsletter advises you not to deposit any funds (deposits for hotel reservations, deposits in the cashier’s cage or not redeeming casino chips, etc.), in … Caesars hotels, until the situation at Caesars becomes clearer,” Publisher Bill Mandel said in his Openings and Closings in Las Vegas newsletter distributed Monday.
While analysts have speculated on a Caesars bankruptcy filing, company insiders said executives aren’t considering it.
A UNLV gaming expert said that even if Caesars were to file for bankruptcy protection, it’s highly unlikely that it would affect hotel reservations and casino deposits.