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Found 10 results

  1. Late last week, Caesars Entertainment reversed its long-held stance that PokerStars should not be permitted access to the United States online poker market, a change that has been lauded by the industry. This week, the company took the next step, telling Chris Krafcik of Gambling Compliance that it was time to not only support PokerStars, but also to team up with the internet poker behemoth. Executive Vice President of Governmental Relations at Caesars Jan Jones Blackhurst told Krafcik that Caesars must "focus on where our opposition really lies, and clearly it's not Amaya and PokerStars. T
  2. The financial woes of Caesars Entertainment are continuing for the beleaguered company, which recently defaulted on a massive bond payment. This month, Caesars Entertainment was facing a bond interest payment of $225 million on debts that it has incurred. In deciding not to pay that debt, which was due on December 15, Caesars Entertainment is now in default to its creditors on a total bill of $18.4 billion. While this puts the owners of the Rio All-Suite Hotel and Casino, the home of the World Series of Poker, in a difficult spot, the company may be able to come out of the deal without any
  3. The NFL has a new official sponsor and it's WSOP.com, as confirmed to PocketFives by Seth Palansky, WSOP Vice President of Corporate Communications. As an official sponsor, WSOP.com is now offering promotions in conjunction with the NFL, including one that will send a player to the Super Bowl in Miami. The partnership stems from the January 2019 announcement that the NFL had selected Caesars Entertainment Corporation, parent company of the WSOP and WSOP.com, as the first-ever Official Casino Sponsor of the NFL. "If you have been sitting on the sidelines, now may be the time to give WSOP.
  4. You might recall that Las Vegas Sands CEO Sheldon Adelson (pictured) has pledged to spend "whatever it takes" to rid the United States of online gambling. In fact, he has corralled two lawmakers – Senator Lindsey Graham (R-SC) and Representative Jason Chaffetz (R-UT) – into introducing bills to do exactly that. How much money have Adelson and his Coalition to Stop Internet Gambling spent in 2014? --- PocketFives' news coverage is brought to you by Betsafe, one of the leading suppliers of online gaming products worldwide and a major sponsor of Gumball 3000. Sign up now for great bonus
  5. On Wednesday, Caesars Entertainment Corporation announced that Gary Loveman (pictured) will be stepping down as Chief Executive Officer of the casino giant. Loveman will continue in his role as Chairman of Caesars Entertainment and Caesars Entertainment Operating Co., with Mark Frissora taking over the role of CEO. The announcement comes only a few weeks after Caesars Entertainment Operation Co. filed for bankruptcy in an effort to restructure the company's massive $24 billion debt. "After 12 years as CEO, Caesars has accomplished more than what we could have imagined when I arrived in
  6. According to Reuters, Caesars Entertainment has agreed to pay $20 million "to settle US charges over anti-money laundering lapses and will enter into a deferred prosecution agreement with the Justice Department." --- Tournament Poker Edgeis the only poker training site dedicated exclusively to MTTs and features over 1,000 training videos, blogs, articles, podcasts an
  7. After its humble beginnings in Reno more than 75 years ago, Caesars Entertainment has grown to become a behemoth in the casino gaming world, operating resort destinations like Harrah's and Horseshoe across four continents. The company also owns the World Series of Poker brand, known for organizing the most prestigious tournament series in the world. The 2015 WSOP attracted huge crowds of poker players, all of whom converged on Las Vegas' Rio for their shot at winning a coveted gold bracelet. The inaugural $565 buy-in Colossus drew a record-breaking 22,374 runners, earning itself the dist
  8. After repeatedly denying rumors regarding its financial straits, several media outlets are reporting that Caesars Entertainment will file for Chapter 11 bankruptcy protection by the middle of January. According to iGaming Business, the proposed bankruptcy proceedings will reduce the debt of Caesars Entertainment to only $8.6 billion versus the $18.4 billion it currently owes. One of the most vocal opponents of bankruptcy, Chairman Gary Loveman, stated to iGaming Business, "The planned restructuring of Caesars will allow us to establish a strong and sustainable capital structure… and maxi
  9. On Monday, Caesars Entertainment Corp CEO Tony Rodio announced the sale of the Rio All-Suite Hotel & Casino to New York real estate company Imperial Companies in a deal for $516.3 million. According to Caesars, the deal is expected to close in the first quarter of 2020. However, Caesars will retain a lease and maintain and operate the Rio for the next two years paying rent of $45 million per year. In the third year, Imperial Companies can pay Caesars $7 million and have the option to extend the arrangement for an additional year. Although they have purchased the building, the New Yor
  10. On Thursday, a division of Caesars Entertainment filed for bankruptcy. According to the LA Times, "The division, Caesars Entertainment Operating Co., owns and operates most of Caesars' 50 properties worldwide." Caesars officials said the casinos would remain open and few changes were expected while the company sorts out a reported $18.4 billion in debt. CEO Gary Loveman was quoted in the Times as saying, "I am very confident in the future prospects of our enterprise, which will combine an improved capital structure with a network of profitable properties." Caesars owns and operates the W
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