Caesars CEO: Atlantic City has too many casinos - Fox 2 News Headlines

Caesars CEO: Atlantic City has too many casinos

Posted: Updated:

By WAYNE PARRY | AP

ATLANTIC CITY, N.J. (AP) -- The CEO of Caesars Entertainment said Atlantic City has too many casinos, and that one or more needs to close.

Gary Loveman said Atlantic City has been the biggest problem for the global casino company for the last several years, and that one option is to reduce capacity. But what he didn't specify during an earnings conference call Wednesday was whether one of Caesars' four Atlantic City casinos should close, or whether the company might seek to buy someone else's casino and put it out of business, like it did in January with The Atlantic Club.

A company spokesman said Caesars is looking at all its options to reduce operating costs in Atlantic City.

Caesars owns four of the 11 casinos in Atlantic City (Harrah's, Bally's, Showboat, and Caesars).

  • New Jersey NewsNew Jersey NewsMore>>

  • Revel Casino Hotel starts closing in Atlantic City

    Revel Casino Hotel starts closing in Atlantic City

    Monday, September 1 2014 5:16 PM EDT2014-09-01 21:16:28 GMT
    Photo by Arun Kristian DasPhoto by Arun Kristian Das
    The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling begins to play out Monday when the $2.4 billion Revel Casino Hotel empties its hotel.
    Atlantic City's newest casino and its costliest failure has begun its two-day shutdown.
  • Man to face murder charges in mother's slaying

    Man to face murder charges in mother's slaying

    Monday, September 1 2014 3:08 PM EDT2014-09-01 19:08:57 GMT
    Murder charges are pending against a northern New Jersey man who allegedly stabbed and beat his mother to death.
    Murder charges are pending against a northern New Jersey man who allegedly stabbed and beat his mother to death.
  • Why is Atlantic City collapsing?

    Why is Atlantic City collapsing?

    Sunday, August 31 2014 8:38 PM EDT2014-09-01 00:38:30 GMT
    AP file photoAP file photo
    For decades, making some quick cash was the main drive behind so many who took the ride down the parkway to Atlantic City. But with so much to choose from nowadays, it looks like Atlantic City is in a lot of trouble.
    For decades, making some quick cash was the main drive behind so many who took the ride down the parkway to Atlantic City. But with so much to choose from nowadays, it looks like Atlantic City is in a lot of trouble.
Powered by WorldNow

WJBK-TV | Fox 2
16550 West Nine Mile Rd.
Southfield, MI 48075

Main Station: (248) 557-2000
Newsroom: (248) 552-5103

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices