\nWhat would a Caesars bankruptcy mean for casino players? Should we be running to cash in rewards credits before the likely January filing?
\n\tA:
\n\tIf you\u2019re concerned about Total Rewards going away completely, in light of recent moves and the experts’ interpretation thereof (see Today’s News 10\/17\/14), don\u2019t be.
\n\t"I don\u2019t think anything would change," says Fitch Ratings analyst Alex Bumazhny, who\u2019s normally bearish on Caesars Entertainment. "Total Rewards is licensed in perpetuity," its ownership shared between several Caesars Entertainment subsidiaries. Admittedly, it is part of the weakest one, Caesars Entertainment Operating Co., which owns Caesars Palace on the Strip and by far the likeliest entity to go bankrupty. But it also is part of the healthier Caesars Entertainment Resort Properties (Harrah\u2019s Las Vegas, Paris-Las Vegas, The Rio, Flamingo Las Vegas) and Caesars Growth Partners (Bally\u2019s, Cromwell, The Quad\/LINQ).<\/p>\n
\t"Ownership of the casinos may change but likely they\u2019ll stay within Total Rewards as Caesars Entertainment Operating Co. goes through with its reorganization," Bumazhny opines.<\/p>\n
\tBuzahmy\u2019s sanguine view is shared by Raving Consulting marketing veteran Dennis Conrad, who writes, "my take would be that a bankruptcy would be a non-issue for casino players. Now if there were a risk of closure of Caesars casinos, that would be a different story. But Caesars can\u2019t afford to screw around with the goodwill of their core asset, their casino players."<\/p>\n
\tJust to be sure, we ran your query by Caesars Entertainment spokesman Gary Thompson, who wrote, "We do not anticipate our guests will experience any changes in our Total Rewards program or any reduction of earned Total Rewards."<\/p>\n
Posted by:<\/strong> Finisher on January 18, 2015, 5:59 am<\/p>\n What would a Caesars bankruptcy mean for casino players? Should we be running to cash in rewards credits before the likely January filing? A: If you\u2019re concerned about Total Rewards going away completely, in light of recent moves and the…<\/p>\n","protected":false},"author":111,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-8205","post","type-post","status-publish","format-standard","hentry","category-latest-casino-news"],"_links":{"self":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/users\/111"}],"replies":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/comments?post=8205"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8205\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=8205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=8205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=8205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}