Caesars To Make MGM-Like Cuts

Strip hotel business was strong, and the company played lucky, and the result was a $50 million jump in net revenues in Caesars’ core market of Las Vegas. On the down side, labor costs this year are headed for an $80 million increase, and management says deep cuts are in the offing.

Strong hotel occupancy combined with a run of good luck to help Caesars Entertainment boost net revenue in its core Las Vegas Strip market by 5.8 percent in the first quarter.

Regional revenues also increased as the acquisition of Centaur Gaming offset tougher competition in Atlantic City and the temporary closure of some Midwest casinos due to bad weather.

In all, corporate-wide net revenues compared to Q118 were up 7.3 percent to $2.12 billion, mainly on the strength of a $50 million surge in Las Vegas to $953 million

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On This Day In Sports History

On August 23, 2017, Dodgers starter Rich Hill lost both a no-hitter and the game on a single pitch in a 1-0 loss to the Pirates at PNC Park. Hill carried a perfect game into the 9th inning before an error broke it up, though he retired the next three batters to keep the no-hitter intact. Returning for the 10th inning in a scoreless tie, Hill surrendered a walk-off home run on a 2-1 pitch to Pittsburgh leadoff hitter Josh Harrison.

On This Day In Sports History

On August 22, 1951, St. Louis Browns pitcher Tommy Byrne tied a major league record by issuing 16 walks in a 3-1, 13-inning loss to the Boston Red Sox at Sportsman's Park. Byrne faced 63 batters, struck out five, left 22 men on base, and even drove in St. Louis's only run with a fifth-inning double. Boston secured the victory in the top of the 13th behind a Ted Williams single and four two-out walks, including a bases-loaded pass to opposing pitcher Leo Kiely, who pitched 12 1/3 innings for the win.