Last Caesars casino property to reopen
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Caesars Entertainment has announced that the off-Strip Rio All-Suite Hotel & Casino will reopen December 22 at 10am, with the venue’s newly branded William Hill sportsbook also primed to make its debut.
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gaming floor will be in operation seven days a week
In a November 12 news release, Caesars said the gaming floor will be in operation seven days a week, while the hotel will “accommodate weekend stays, Thursday through Monday.” The Rio theater’s resident magicians, Penn and Teller, announced the reopening date in a video tweet:
Caesars added that it would announce performance dates for Penn and Teller shows at a later date.
When the off-Strip Rio reopens, it will mean all of Caesars’ regional casinos and hotels across the US and Canada will finally be operational following COVID-19-related closures.
Caesars, the biggest casino-entertainment organization in the US, doesn’t currently own the Rio, having sold it in 2019. The new owner, Dreamscape Companies, leases the Rio to Caesars for $45m per year.
William Hill sportsbook’s Rio premiere
When the Rio reopens, it will premiere the freshly branded William Hill Race and Sports Book, which replaces the Rio Race and Sports Book. The launch follows Caesars’ official opening of a William Hill sportsbook at Harrah’s Philadelphia in Chester, Pennsylvania last month.
rebranded sportsbook will offer bettors something new
In its news release, Caesars said the rebranded sportsbook will offer bettors something new, including a broader betting menu featuring live InPlay wagering, plus self-serve sports wagering kiosks. On Rio’s casino gaming floor, the keno lounge, slot machines, and table games will also be up and running starting December 22.
While Caesars has many Sin City properties, one of its most famed in the gambling world is the Rio. The venue is the focus of the poker world every summer, having hosted the World Series of Poker since 2005. COVID-19 meant there was no traditional WSOP tournament held at the facility in 2020. On selling the Rio, Caesars kept the right to keep the WSOP brand in the transaction.
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A welcome return
In announcing the Rio’s reopening, president and chief operating officer of Caesars Entertainment Inc., Anthony Carano, said the past nine months presented many challenges. He added that there were also many opportunities along the way, such as the $17.bn merger deal with Eldorado Resorts Inc. Igt slot machine settings.
The Caesars president said the company was aware of “the incredible effort it has taken to reopen our resorts and get us to this important milestone.” He concluded by saying that the casino operator is looking forward to welcoming staff and guests back to the Rio, “with their health and safety still top of mind.”
© Provided by This Is Money MailOnline logoBuyout specialist Apollo Global Management has pulled out of the race to snap up bookmaker William Hill, paving the way for US casino giant Caesars Entertainment.
Apollo confirmed it would not make a bid for the betting giant, unless Caesars pulled out of the race, or a third party became involved.
Las Vegas-based Caesars has already agreed a £2.9billion takeover of UK-based William Hill.
© Provided by This Is Money No deal: Apollo Global Management has pulled out of the race to snap up bookmaker William HillIn September, the duo announced that Caesars would pay £2.72 per William Hill share in cash, marking a premium of over a quarter compared with the price before the US company’s interest was first reported.
At the time William Hill chairman Roger Devlin said: 'The William Hill board believes this is the best option for William Hill at an attractive price for shareholders.
'It recognises the significant progress the William Hill Group has made over the last 18 months, as well as the risk and significant investment required to maximise the US opportunity, given intense competition in the US and the potential for regulatory disruption in the UK and Europe.'
The takeover will give Caesars, the operator of the Caesars Palace casino in Las Vegas, access to the vast US sports betting market. Caesars also already owns various casinos in the UK.
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The market has been heavily regulated in the past, with most US states banning betting. But, after a 2018 ruling in the US Supreme Court, states are now allowed to legalise the practice.
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William Hill previously received an approach from Apollo, but decided to reject the private equity giant in favour of its US peer, Caesars.
Apollo said today: 'Apollo Management International .. on behalf of certain of its affiliated funds, confirms that it is not intending to make an offer for William Hill.'
© Provided by This Is Money Glitzy: Caesars is the operator of the Caesars Palace casino in Las VegasShares in FTSE 250-listed William Hill are up 0.2p points to 267p this morning, while a year ago the share price stood at 172p. Dawn of justice free online.
In August, William Hill revealed it was shutting 119 of its high-street betting shops for good, amid fears in-store customer levels would not return to pre-pandemic levels.
A spokesperson for William Hill told This is Money at the time that less than 20 people would lose their jobs, with around 300 set to be redeployed to other sites within the company.
The closures leave the betting firm with over 1,414 stores across the UK.
A spokesperson for William Hill told This is Money: 'We are very comfortable with the scale and performance of our retail estate; we think we have got the balance right.
'But we will always look at performance as leases are up for renewal. This is just part of normal business practice.'
In the six months to June, William Hill's profits fell 85 per cent to £11.8million, while revenues shrunk by 32 per cent to £554.4million on the previous year.