Eldorado Shake up sparks interest of Atlantic City investors in Nevada

Eldorado Shake up sparks interest of Atlantic City investors in NevadaPhil Ruffin and Tilman Fertitta show interest in Caesars property after Eldorado bought them out. Phil Ruffin, the owner of Treasure Island, has said that he intends to expand his Casino portfolio. As a result, he would still like to buy a Caesars Entertainment property. This comes after the company already agreed to the Eldorado Resorts acquisition. Furthermore, Tim Fertitta, Golden Nugget Casino’s main man, has also expressed an interest.

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Earlier last week, Eldorado acquired Caesars. Incredibly, this deal was worth $17.8 Billion. Analysts believe that this deal will need the company to sell a property where operations would overlap. In fact, Caesar’s real estate investment trust has already bought three casinos in the aftermath of the merger. These casinos are Harrah’s New Orleans, Harrah’s Laughlin and Harrah’s Atlantic City. Ruffin talked of his interest in a Strip property.

However, he did discount Rio but said. “We’d be interested in something on the strip if something were to be available.” As well as this, Fertitta, owner of Golden Nugget Casinos also expressed interest. He said, “I’ll try to pick off one or two properties.” And this could be a good sign for Bally’s Atlantic City who experts believe Eldorado might have to sell. Maybe Fertitta will want to get a bigger slice of AC’s pie. Who knows?

Another Bite of the Apple

In fact, before this, Fertitta was one of the favourites to buy Caesars. The mogul is worth $5.1 Billion. He made an offer, which means Golden Nugget would have been part of the Caesars brand. He would then become the CEO of both. This would lead to him putting his Landry restaurants inside Caesars casinos. However, he stated that he was fine when Eldorado outbid him. Ruffin was never interested in Caesars, just NJ Casinos along the strip. It might not be Caesars, but it will be a big deal. A deal worth Billions.