Harrah’s Entertainment continues making changes to its empire. While most casino operators are cutting back the spending, Harrah’s is moving forward with several different casino plans.
One of the plans is to overhaul a riverboat casino in Indiana. Part of the changes that are being made will be to remove a twelve foot statue of Julius Caesar that is on the outside of the casino.
The statue was their from previous owners, Caesar’s Entertainment, which Harrah’s bought out in 2005. The casino will be renamed Horseshoe Southern Indiana. Other changes are also taking place within the casino.
While the statue will be removed, there is no decision on what will be done with it. For the time being, it will be stored on Harrison County Councilman Carl Mathes’ farm.
“If the statue is successfully removed in one piece, it will be given to Harrison County,” said a casino news release. The removal of the statue is a move by Harrah’s to bring the horseshoe brand to the casino.
Economy Hurting Las Vegas Casino Operators, Share Prices Drop
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Las Vegas casinos have been through some difficult times before. They are beginning to worry about the state of the current economy in the United States, much like other industries are.
On Tuesday, stock prices fell hard for casino operators, and the economy is being blamed. Operators are laying off workers at an alarming rate.
MGM Mirage hit their employees the hardest. They claim that they have laid off 440 workers. The levels at which these employees worked varied.
“Trends in Las Vegas and across the U.S. have been softer this year, as both gaming and non gaming revenues have been impacted by a difficult economic environment,” said Bill Lerner, Deutsche Bank Gaming Analyst.
Casino companies are practically begging people to come visit their resorts. Room rates on the Las Vegas Strip have been dropped to nineteen percent at some locations.
Most casino operators saw their stock prices drop between two and six percent on Tuesday. The economy is playing a major part in the decrease in revenue for casinos nationwide.