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Ohio Rock

Last edit: Dramman on Saturday, 14th November 2015 3:24 pm
Last response by Drake 16th November 4:40am

Anybody else get the mailer that Harrahs is abandoning Ohio? Or is it just Total Rewards? What is the inside story here?

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 Stosh responded on Saturday, 14th November 2015

Rock Gaming ( Quicken Loans' Dan Gilbert) has been running Greektown in Detroit.

They must feel comfortable operating on their own as they bought out Caesars share of Ohio's Horseshoes, a couple racinos and a Ritz Carlton.

I'd expect Cleveland and Cinci to drop the Horseshoe name by summer.

 Drake responded on Saturday, 14th November 2015

And in other Caesars news:

Build for $450 million, sell for $3 million.

I'm not an MBA, or a Harvard guy, but I don't think that's the way you do it.

 vespajet replied on Sunday, 15th November 2015

Caesars/Harrah's Entertainment didn't build the resort. It was built by Grand Casinos, which was acquired by Hilton in 1998 prior to the company spinning off its' gaming assets into Park Place Entertainment (Park Place retained Grand Casinos' Mississippi properties and sold off their other properties.). Park Place acquired Caesars World in 2000 and in early 2004 renamed itself Caesars Entertainment, which was the company acquired by Harrah's Entertainment later that year.

 Drake replied on Monday, 16th November 2015

I stand corrected and bow before the Lurveman.