It is no secret that the casinos owned and operated by Caesars Entertainment Corp have been struggling, and many of them are in urgent need of investment if they are to compete with the ever growing number of land based casinos dotted across the US.
In fact, one of the company’s largest shareholders has just gone on record to demand that each of the casinos Caesars Entertainment Corp own should be sold off.
The largest shareholder is Canyon Partners LLC and that company is aiming to put the idea to a vote with other shareholders. In fact, there are many other major shareholders that are of the same mind so any vote that is held is sure to be a very close run thing.
The spokesperson for Canyon Partners LLC has stated that by putting those casinos on the open market they would then be able to achieve the highest possible price for them which would be in the best interested of investors in Caesars.
Caesars woes are to be compounded somewhat at the end of April this year for that is when the current Chief Executive Officer Mark Frissora will be stepping down from his position within the company.
Last year a proposal was put forth by the Golden Nugget casinos owner Tilman Fertitta to join forces with Caesars and merge the two companies together, however that proposal was rejected almost immediately.
As for what the future does hold for the Caesars casinos, it does look like it will be an uncertain one for the very near future for sure.
