It appears that the sale won't go through (at least for now), which might result in significant changes at the venerable resort casino.
Selling a home on the 4.2-mile Las Vegas Strip now that every piece of real estate there has skyrocketed in value sounds like a poor idea.
Although prices have reached historic highs, the asset's worth still looks to be more than what you might possibly obtain for it.
That makes the motivation behind Caesars Entertainment's (CZR) - Get Caesars Entertainment Inc. Report's desire to sell a Strip property at least somewhat dubious.
The business has stated that it thinks it has too many properties on the Las Vegas Strip and that selling one of them will actually cause prices at its other resort casinos to increase.
The property Caesars appear to be selling, Flamingo, likewise requires a lot of maintenance. Compared to Caesars' other Strip holdings, it is a more traditional property