May 19, 2017 1:20 PMby Robert MannCaesars Entertainment Corp. CEO Mark Frissora has offered up more information to Bloomberg TV about the company’s plans on the Las Vegas Strip. He says Caesars wants to develop more than 90 acres the company owns in Las Vegas, in addition to land rights in front of Caesars Palace, after its biggest unit emerges from bankruptcy after this year.“We have a lot of real estate that’s underutilized,” Frissora asserted in an interview with Bloomberg TV Thursday. “We have plans to basically develop all of in that very valuable center-strip property as shortly as we emerge. Those assets will have a very high-return, low-risk profile.”Caesars remains the biggest owner of casinos in the U.S. yet has-been weighed down under major debt since a $30 billion leveraged buyout in 2008. In January of 2015, the company put its biggest division, Caesars Entertainment Operating Co., in to bankruptcy.The Las Vegas-based company has seen recent accelerated growth in sales and profit over the past two years, attributed, in part, to a strategy of renovating hotel rooms and searching for cost savings and new profit centers such as its recent implementation of a parking charge for visitors.Caesars moreover formally announced Thursday it would shortly begin a $90 million room beautification project at its Flamingo property of the Las Vegas Strip.
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