- Caesars executives outline plans for company growth
- Plans including a new convention facility, aggressive marketing campaign and mobile gaming platform
Caesars Entertainment executives have outlined the company’s growth plans for investors at a ninety-minute session in New York on Tuesday.
The President and CEO of Caesars, Mark Frissora, along with a number of his colleagues, laid out their strategy for the months ahead, answering questions and providing further details on a number of plans that had already been announced.
The occasion marked the first appearance of Caesars executives in front of institutional investors since the merger of Caesars Acquisition Co. with Caesars Entertainment Operating Company Inc.; a deal that took the company out of bankruptcy.
Some of the plans are underway, including the renovation of hotel rooms, a new celebrity chef concept and the promotion of big name music residency programs. Caesars currently has Celine Dion, Britney Spears, Elton John and The Who in its stable of stars, and its Axis theater at Planet Hollywood, holds the record as the highest-grossing venue in the world.
Frissora said that plans were continuing for a 300,000-square-foot convention facility on a site east of the High Roller. They are also planning to develop three other land-based casino sites across the city. Caesars’ overseas commitments also include a venture in South Korea, Japan – where the company is at the forefront of bidding for new resorts – and Brazil, where they are already involved in a joint venture at Punta del Este.
Another strategy is to launch an aggressive marketing program to bombard customers with food and game offers, including discounted triggered offers that should increase spending at other sites within the casino resort.
The company also has a new mobile gaming platform that has already earned $1.4 million in deposits in the few weeks after its introduction.
Caesars are set to continue their work with Gamblit, GameCo and Competition Interactive to develop new skill-based casino games that are designed to be made available for free via social platforms, making it easier for players to transition to paid casino games.
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