Caesars CEO encouraged by numbers
Friday 07 de August 2020 / 03:17
2 minutos de lectura
(Las Vegas).- Caesars Entertainment CEO Tom Reeg said Thursday there are encouraging signs for his company and the hospitality industry as it tries to do business during the coronavirus.
Reeg also said that “media fear mongering” over the coronavirus ahead of the Fourth of July weekend muted visitation across the country. But he touted Caesars’ strength compared to their Strip competition and that second quarter group bookings for six months to two years out were “dramatically in excess of last year.”
Reeg said during an earnings call that their Las Vegas properties did about $100 million in revenue in June and about $25 million in (earnings). That softened in the first week of July before returning to that original pace.
Reeg said Caesars mid-week occupancy in Las Vegas is running about 50% and starting to climb again. Weekend occupancy is in the high 70s despite a self-imposed cap because of what customers can be offered in non-gaming, food and beverage limitations, not being allowed to open bars, and social distancing at pools.
“Caesars was capping occupancy as properties reopened (starting June 4) at 80% and was running that on weekends and pulled back to 70% as (COVID-19) cases rose in Nevada,” Reeg said. “We’ve started to move that back up as we took over.”
Other Strip reports have cited midweek occupancy in the 30s and weekend occupancy in the 50s.
Categoría:Casino
Tags: Sin tags
País: United States
Event
SBC Summit Americas 2025
13 de May 2025
ProntoPaga impacts SBC Summit Americas with technology that redefines payments in Latin America
(Fort Lauderdale).- In just three years, ProntoPaga went from being a promising post-pandemic idea to becoming a benchmark in the Latin American digital payments ecosystem. With exponential growth of 700% year-over-year, the company has transformed the way payments operate in dynamic industries such as iGaming, sports betting, and the Fintech world.
Friday 23 May 2025 / 12:00
GMW Revolutionizes SBC Summit Americas: Innovation, Gamification, and Player Protection
(Fort Lauderdale, SoloAzar Exclusive).- At SBC Summit Americas, GMW reaffirms its commitment to strategic innovation, combining performance, adaptability, and compliance. Marga Fernández, Head of iGaming Business Development, highlights how the company integrates gamification and player protection to generate unique and sustainable experiences. Discover how these trends are redefining the future of gaming in emerging markets.
Friday 23 May 2025 / 12:00
Uplatform Glowed at SBC Summit Americas 2025
(Cyprus).- Uplatform brought serious sparkle and substance to SBC Summit Americas 2025 in Fort Lauderdale, lighting up Stand C470 with a dynamic mix of business and fun from May 13–15.
Thursday 22 May 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.