Caesars golf course sale advances

 

Caesars Entertainment Corp. has begun talks with potential buyers of its golf course in Cotai, which it bought in 2007 for $500 million but was subsequently unable to use for gaming purposes, Gary Loveman, chairman and chief executive, told analysts. “It’s really hard to predict when those negotiations will conclude,” he said, though a local newspaper quoted another company official who said that the sale is in its final stages.
Donald Colvin, Caesar’s chief financial officer, meanwhile said on the company’s earnings conference call that a main reason for a fall in casino revenues at the company’s properties in Las Vegas “was we had bad hold relating to essentially our Asian-facing business”.