In 2008, Harrah’s lost $ 5.2 billion.

[RoeIncarnate]

Interesting paragraph from the book I'm reading. Really sets up where Caesars is now.

http://amzn.to/1qlL9kW
"Loveman started making cuts and other pre-emptive moves to stabilize the business. The numbers were daunting. In Nevada, casinos lost $ 15 billion in the four years after 2008 before federal income taxes. 2 In 2008, Harrah’s lost $ 5.2 billion. Those guests who continued to come noticed the cutbacks. In a 2009 company survey, customers said they had the impression that the recession had hurt Harrah’s more than it had hit their own pocketbooks. They did not want to come as often, not so much because of their tighter belts but because of the difficulties experienced by the casino chain. “We had cut labor, they didn’t think the property was clean, we had cut marketing offers, maybe some of their favorite employees weren’t there,” said David Norton, the executive who had worked for years to attract steadily spending regulars who had not traditionally been considered VIPs."

[redietz]

After or during this time, they arrived at the conclusion to remake Bill's into a high end property for youngsters, The Cromwell, in direct competition with Planet Hollywood right up the street, which they also owned. In the last three years, they committed to redesigning and refurbishing the club in Caesars, which again put their money into direct competition with money previously spent. I have never understood what they were doing or why.

It's just a shame that the CET business model became the most pervasive business model, despite the fact it was failing for years. Without this staggering monopoly, Las Vegas might look quite different, and might be a better value.

[regnis]

I hear they are going to start charging for parking soon ala MGM. Any truth to that?

[RoeIncarnate]

Yeah, duopolies are usually just as bad as monopolies.