Across Flamingo Road, Cromwell, Flamingo, Linq and Harrah’s are connected to the Linq Promenade. The neighboring Paris Las Vegas is connected to Bally’s (soon-to-be Horseshoe Las Vegas). “We will be keeping our Vegas Strip assets as we move forward.”Ĭaesars never revealed which hotel-casinos were being shopped, although speculation centered on Planet Hollywood, the Caesars-owned casino farthest south on the Strip. “That was a self-inflicted error and that was on me,” Reeg said on the company’s third-quarter conference call. He apologized to shareholders, saying the speculation created an “unnecessary overhang” on the company’s stock price. Last week, Reeg said the attempt ended without a deal. He announced the start of a sales effort a year ago, 16 months after the Eldorado-Caesars merger closed. Still, Reeg thought Caesars should sell another one of the eight remaining Strip properties. Caesars leased the property back from the new owner and is operating the hotel-casino through 2023.
Three months later, Caesars did Reeg a favor by selling the off-Strip Rio Resort to a New York real estate investment firm for $516.3 million.
