Despite its enormous obligations, Caesars is expanding · 11:59am February 17th
Last year, Caesars and its partner Rock Gaming opened two casinos in Ohio and added slot machine-only casinos to a racetrack near Cleveland. Rock Gaming and Caesars are partners in Baltimore, the $400 million Hosch Casino, which is expected to open next year. Caesars is also considered a leader in partnering with Boston's Suffolk Downs Race Track to gain a sole game license and build a $1 billion hotel casino in Massachusetts's largest city.
With 300,000 square feet of outdoor retail, dining and entertainment, and 550-foot high roller observatory anchored, Linq embraces the belief that adding non-gaming elements could be a means to increase the company's revenue outside the casino.
Newmark Grubb Knight Frank game analyst Brent Pirosch told Bloomberg News the Caesars are embracing a "new model of Las Vegas."
Meanwhile, Krejcik said Caesars' true growth area is the interactive sector that runs the paid wsop.com poker site World Series of Poker in Nevada and is looking for a Sylvie Online Gaming license in New Jersey. The company plans to expand the brand as other states legalize internet gambling.
The real money-makers are social and mobile casino games offered through Playtika and Buffalo Studios, two wholly owned subsidiaries of Caesars. In 2012, total interaction sales were $193.3 million. Crazy estimates that the division will have $283 million in sales this year. Social gaming customers pay nominal fees to increase their "virtual" chip stack.
Krejcik said, "Cesers generates nearly half of its social casino revenue from mobile and tablets, which I think is important given the secular shift to mobile gaming." He sees Caesars raise $407 million to $488 million from an estimated $3.7 billion in industry-wide social gaming revenue by 2015.
But can social games help reduce Caesars' debt? It will take a lot of tokens. 바다이야기
