Vol. 9 • No. 7 • February 21, 2011, Featured Articles, PODCASTS

GLOBAL GAMING BUSINESS PODCAST: Jonathan Halkyard, Chief Financial Officer, Caesars Entertainment

Fri, Feb 18, 2011

This week the Global Gaming Business Podcast features an interview with Jonathan Halkyard, chief financial officer for Caesars Entertainment on how his job has changed since the company went private in 2007.

Download this Podcast Episode or Click Below to Play it.

GLOBAL GAMING BUSINESS PODCAST: Jonathan Halkyard, Chief Financial Officer, Caesars Entertainment

When Caesars Entertainment was taken private by the private equity firms of Texas Pacific Group and the Apollo Group in 2007, the plan was the keep growing and producing record numbers. Of course the economic conditions that soon depressed all the gaming industry brought a new reality for Caesars. Jonathan Halkyard was forced to change his strategies in order to deal with high debt that was no longer supported by high revenues. He explains why it didn’t make sense for Caesars to sell any of its assets and why, as the company was struggling, expansion continued. Halkyard spoke with Global Gaming Business Publisher Roger Gros at his Caesars Palace offices in January.

By Staff

Staff

Please login to post your comments.

More Featured Articles

WEEKLY FEATURE: Dan Lee Gets Even

The Mojito Pointe project of former Pinnacle executive Dan Lee (l.) and his group wins the 15th and final gaming license in Louisiana for a $400 million project in Lake Charles.

Gambling Slightly Up in U.K.

The recently published 189-page British Gambling Prevalence Survey 2010 provides enough information to support the arguments of both the pro-gaming and the anti-gaming crowd. The conclusion from the Gambling Commission is that yes, more people are gambling, and yes, there is a “small, but probably growing” number of problem gamblers.

Opening-Day Crowds Jam Gun Lake Casino

The long-awaited Gun Lake Casino in Wayland, Michigan, opened early to accommodate the crowds. Some waited several hours to be the first to see the dazzling new $165 million casino, owned by the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians.

Down to the Wire

The time for New Jersey Governor Chris Christie (l.) to either sign or veto a bill that legalizes online gaming inside of the state’s borders is rapidly running out, with little indication which way he’s leaning. But one thing is certain. He will take action one way or another.

Ohio: Tax Revenue to be Lower Than Expected

With an estimate of more than $600 million in tax revenues from four casinos each year, Ohio voters two years ago approved the facilities. Now, with fewer gaming seats envisioned for the actual properties, including the embattled Cincinnati Horseshoe (l.), the real number is much lower.

Taiwan Commissions Integrated Resort Study

Despite the Penghu “no” vote on casinos in 2009, the Taiwan government has not given up on the idea of establishing an integrated resort in one of its offshore island groups, possibly Kinmen Island (l.). Rather, the government is determined to have an IR up and running somewhere by the end of 2013.

Baha Mar a Breakthrough for Chinese Firms

The massive Baha Mar resort in the Bahamas represents the largest project outside of China for China State Construction and the Exim Bank.

Minnesota Considers Variety of Gambling

The Minnesota legislature is looking at racinos, including one at Canterbury Park (l.), video lottery terminals and other forms of gambling to help raise revenues. Opponents say expanding gambling is not the solution.

U.S. Envoy: No Macau Discrimination

Speculation that the Macau government rejected the Las Vegas Sands control of sites 7 and 8 on the Cotai Strip was motivated by a desire to have a Chinese company control those sites has been rejected by the Stephen Young (l.), the U.S. envoy in Hong Kong.

FANTINI’S FINANCE: Atlantic City’s Message to Gaming

The changes going on in Atlantic City are demonstrating how a depressed market, combined with a supportive government can make a difference in developing a new image and direction.