The company said that its interested in developing more than 90 acres in possession of Caesars in Las Vegas.
US.- Mark Frissora, Caesars Entertainment Corp. Chief Executive Officer, said that the company is interested in developing 90 acres that belong to them in Las Vegas. The project is set for later this year, when Caesars emerges from bankruptcy.
“We have a lot of real estate that’s underutilized. We have plans to basically develop all of that very valuable center-strip property as soon as we emerge. Those assets will have a very high-return, low-risk profile,” said Frissora to Bloomberg TV on Thursday, and added that they’re excited because they have a lot of growth plans that they’ve not been able to act on because of the complicated structure of Caesars. “Once we emerge, we will be able to do a lot of development projects around the world as well as M&A activity,” he added.
Moreover, as reported by Las Vegas Review Journal, the company is planning to invest US$90 million to upgrade the Flamingo Las Vegas: the hotel will be completely revamped and finalized by the second quarter of next year. Additionally, the company will also upgrade its Planet Hollywood rooms in order to try to increase the prices of its hotel.