Caesars' CEO touts $125M meeting center in Atlantic City; won't guarantee 3 casinos' future

Associated Press

The CEO of Caesars Entertainment says a new $125 million meeting center his company is building will help define Atlantic City's future, even as he pointedly refused to say whether his company is done closing casinos there.

Gary Loveman says the center next to Harrah's will be ready by next summer and should help Atlantic City expand its minuscule 1 percent share of the northeast business meetings market.

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But he also would not say whether his debt-laden company is considering closing any more of the three casinos it still owns here.

He mentioned Bally's as one place he's watching, adding that "we need to make money there."

Caesars Entertainment closed the Showboat in August and is trying to avoid a bankruptcy filing.