The past few years have been a challenge for the gambling industry. During the recession, vacationing — and gaming — at casinos and resorts was far more a luxury than at any time in recent memory, and not just in major cities such as Las Vegas and Atlantic City.
For this reason, many casinos around the nation have closed their doors, and many more are struggling with excessive debt. In an effort to minimize loss, and take a step in fresh new direction, Caesars began restructuring in May of 2014.
Currently Caesars has around $23 billion in debt, and they are restructuring in an effort to reduce this burden. So far they have eliminated $1 billion in debt by implementing a new ownership and management structure for portions of their business.
While $1 billion is a drop in the bucket of the $23 billion, it alleviates much pressure. Caesars operates 44 casinos in 13 states, some of which are drastically more successful than others.
Caesars has also been an active participant on the mobile and online gambling front. In recent months, Caesars Interactive Entertainment even acquired social gaming company Pacific Interactive.
Moving deeper into the mobile arena, Caesars has opened up a world of opportunity through its acquisitions and general business posturing toward the online gambling revolution.
For a more in-depth look at their current efforts to minimize debt and maximize opportunities, take a look at a recent report from the Las Vegas Review Journal.