Christie Guarantees Work For Casino Workers. Under fire, Governor Chris

Christie Guarantees Work For Casino Workers. Under fire, Governor Chris Christie: ‘I am plugged in, I am listening and I am working.’

New Jersey Governor Chris Christie was challenged by casino workers over jobs, as three associated with the city’s casinos face imminent closing. Christie, who was at Ocean City Town Hall to discuss retirement reforms, was greeted on his arrival by a team of workers from the threatened Revel, Showboat and Trump Plaza, chanting ‘Save our Jobs’ and ‘Five Year Promise.’

Each year to bring more flights to the Atlantic City airport, promote more convention business and raise private investment into the casino market in 2011 Christie issued a five-year plan that promised to fix the New Jersey economy, offering millions of dollars.

Revel was a key ingredient to Christie’s designs for Atlantic City. Conceived before the recession, construction of the Revel project started in 2008, just since the downturn that is economic, and Revel Inc discovered it self in financial serious straits, particularly when backers, Morgan Stanley, pulled down soon after.

The project that is entire been a complete tragedy, consistently losing profits since it opened in 2012 and more recently hemorrhaging $2 million per week

Christie, for who Revel represented the promise of a gleaming, revitalized Atlantic City, intervened with a $261 million buck bailout in tax credits and loan that is new desperate to see the $2.4 billion project through to completion.

Has the Five Y Continue reading “Christie Guarantees Work For Casino Workers. Under fire, Governor Chris”

Caesars Interactive Grows, But Caesars Overall Still Stalled

Caesars Interactive Grows, But Caesars Overall Still Stalled

Caesars currently holds over $24 billion in financial obligation.

Caesars Interactive Entertainment (CIE), as a part of Caesars Growth Partners (CGP), has been lauded as being a bright spot for the Caesars brand. At a time as soon as the company is coping with tremendous financial obligation and legal actions with bondholders, CGP is overseeing online operations along with other areas of growth as an ingredient of the strategy to reorganize Caesars and make the organization’s finances sustainable for the long haul. It’s a bit early to state if that’s going to get results, but one that is clear: CIE is definitely holding up their part of the deal.

Into the half that is first of, CIE brought in $268.8 million, an increase of almost 90 percent throughout the $142.1 million they earned final year. The enhance ended up being slightly more dramatic within the quarter that is second, with net revenues up more than 95 percent to $144.6 million.

Positive Cash Flow for CIE

At this time, CIE is losses that are still posting the 12 months. The company is down $16 million for 2014, though that is still a noticable difference over the $27.1 million they lost into the very first 50 % of 2013. But with 20.5 million in profits in the quarter that is second it’s quite possible that the organization might be in the black by the end of the year.

‘With the Interactive Entertainment segment generating cash that is positive, we Continue reading “Caesars Interactive Grows, But Caesars Overall Still Stalled”