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Caesars Entertainment Customers Spending Much Less

Gary Loveman of Caesars Entertainment was on Nightly Business Report on PBS recently to talk business. Nothing he said was too surprising, but he did have a couple of interesting nuggets including;

  • “…we need more visitors and more visitors spending more money.”
  • “…we have the same amount of visitors, but they’re spending much less.”
The discussion revolved around President Obama‘s plans for employment and how to fix the problem. In addition to the quotes above he also said that Caesars isn’t looking to hire more and was critical of some of what the President’s plans were without coming off as cranky as Steve Wynn.
The Linq seems to be aimed at the middle class and besides the rent from the 60+ stores, I’m not sure this will bring in more affluent customers. In fact, he doesn’t seem to think that it will draw more people, but it will give more people a reason to spend their money on Caesars land. I’m not sure I see a goldmine if The Linq ever gets off the ground.
I’m not sure what the right answer is for the economy and Caesars Entertainment to do better is, but I don’t think I’ll be looking for a job there any time soon.  Skip to 5 minutes into the show for the Gary Loveman segment, which lasts about 5 minutes or click here to go to the shows site.

Watch the full episode. See more Nightly Business Report.

Copyright © 2017 Marc Meltzer & EDGe Vegas