This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Caesars Entertainment To Close Harrah's Tunica

LAS VEGAS, March 26, 2014 /PRNewswire/ -- Caesars Entertainment Corporation (NASDAQ: CZR) today announced it will close Harrah's Tunica. The property will cease operations on June 2, 2014. The difficult decision to close the property follows persistent declines in business and increased competition.

Caesars Entertainment Corporation logo

"After exploring every other viable alternative, we have come to the difficult but necessary conclusion to close Harrah's Tunica in an effort to appropriately position our business for the current market opportunity and ensure the long-term viability of our remaining operations in the vicinity," said John Payne, President of Central Markets and Partnership Development. "We are extremely appreciative of the enthusiasm, professionalism and commitment made by the employees of Harrah's Tunica to provide outstanding service to our customers. We are determined to provide them with resources to help them in this transition."

Caesars is committed to the Tunica area, where it operates Horseshoe Tunica, which is currently being upgraded. The company also operates the Tunica Roadhouse Hotel and Casino. The company plans to collaborate with local officials to identify alternative uses for the facility and site.

Caesars Entertainment will work hard to find new positions for as many Harrah's Tunica employees as possible. They will receive preference at other Caesars Entertainment properties, including the two remaining Caesars properties in the Tunica area, and projects under development in Las Vegas.

Harrah's Tunica will remain fully operational until its closure and will honor all room reservations and events until that time. Customers with reservations after June 1 will receive assistance in finding alternate accommodations.

The decision to close Harrah's Tunica is another step in Caesars' ongoing efforts to increase free cash flow and improve performance at the company's Caesars Entertainment Operating Company, Inc., subsidiary.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs