Caesars, formerly known as Harrah's, mired in debt - + $20 BILLION and salivating to enter Massachusetts, has begun a new Las Vegas project noted below.
This is a significant issue that bears on the financial solvency of any proposal, especially since licenses are granted for 15 years with no revocation provision contained within the legislation [written by the Industry].
In the past, casinos have filed for bankruptcy, nullifying their agreements, amending local agreements, re-negotiating tax rates, destroying any illusion of local control.
O'Shea's casino on Vegas Strip shutting its doors
April 30, 2012
LAS VEGAS—A 23-year-old Irish-themed casino on the Las Vegas Strip is going dark to make way for a major entertainment district.
The casino's parent company is making way for a $500 million Linq Project, which will include an outdoor shopping and dining area and a giant observation wheel.
Caesars Entertainment executives say they'll bring back the casino's distinctive casual atmosphere, live music and beer pong in a reinvented O'Shea's within the Linq project.
O'Shea's employs about 300 people. Casino officials say they've been trying to place them in other jobs within the company.
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