The casino industry keeps on growing in Atlantic City. In fact, there is no better time for companies who have the cash flow to stake their claim in town. And the truth is, the Phoenix phenomenon is attracting a lot of new investors. And new ownership sure keeps the Casino Control Commission (CCC) busy nowadays.
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Indeed, in recent news, we’ve learned that Eldorado Resorts Inc. now has full control of the Tropicana Casino. The CCC authorized their plenary license last week. And after a 2-hour interview where Eldorado had to answer tough questions.
Two birds with one stone
All and all, reaching such a milestone opens the door for the Eldorado group. Indeed, they’re persistent rumours that Eldorado could buy Caesar out. Plus, they could also combine both operations. This would mean that Eldorado would control four out of nine casinos in AC. While multiple ownerships are possible. They’d sure test the undue economic concentration act to its limit.
Eldorado’s CEO commented on that after obtaining the Tropicana License and said. “I can’t comment on a particular move. I would say we have been an inquisitive company in the past. To the extent, some opportunities make sense for our shareholders. And we would take a hard look at those. There are a host of concerns that other constituencies would have. But, Eldorado would work through them.”
Controlling a market and cornering it, is sometimes, appealing for some companies. But, they’re other things to keep in mind. And in this case, it’s the cross-sale possibility that Eldorado holds gives them a unique ace in their sleeve. And until today they’ve shown that they’re not afraid of using it either. All and all, Eldorado has casinos in 11 different states. So, they could extend their loyalty program to promote other casinos. And that’s something that would benefit everyone, local or not.