Caesars exec’s work about to become complicated – but he likes it that way

Life is about to get more complicated for Caesars Interactive Entertainment CEO Mitch Garber.

He wouldn’t have it any other way. With the World Series of Poker nearing the end of its six-week run at the Rio, Garber’s attention will focus on launching the tournament’s pay-to-play regulated online gaming website in Nevada.

Caesars Interactive — a Montreal-based subsidiary of casino operator Caesars Entertainment Corp. — is also moving forward with online gaming prospects in New Jersey. The casino operator owns one-fourth of the Atlantic City gaming market.

Garber’s division also handles Playtika, Caesars expanding free-play social gaming operation.

Meanwhile, Garber’s duties will soon include CEO of Caesars Growth Partners, an entity created by Caesars Entertainment as a growth oriented business.

Anything else?

“Very little will change in my role,” Garber said of Caesars Growth Partners. The company is in a Securities and Exchange Commission-mandated quiet period, so Garber can’t say much about the business, which was announced in April.

Caesars spun off the interactive division, Planet Hollywood Resort and its under-construction Horseshoe casino in Baltimore into a separate company.

“The assets are very well-known,” said Garber, 48.

What interests investors, however, are the operations that fall under Caesars Interactive.

The 44th World Series of Poker’s Main Event begins play Saturday at the Rio. The 62-event tournament expects to increase from last year’s 74,766 total entrants.

Garber and Cirque du Soleil founder Guy Laliberte were the forces behind the World Series of Poker’s events to raise money for the One Drop Foundation water initiative.

Last year’s Big One for One Drop included 48 players who paid a
$1 million each to play in the No Limit Hold’em event, raising $10 million for the charity. This year’s $111,111 buy-in One Drop High Roller attracted 166 players. The tournament donated $3,333 of each entry to One Drop.

This year’s World Series of Poker had added meaning, Garber said. It’s the first to converge online poker with live tournament play.

Players could sign up for the World Series of Poker’s online gambling website during the tournament at the Rio. Different incentives were offered to build the database.

Nevada’s interactive gaming laws allow online wagering to take place only on computers or mobile devices located within the state’s borders.

“We are not overly aggressive about it, but the sign-ups early on are going better than anyone expected,” Garber said.

Ultimate Poker, which is majority- owned by Station Casinos, launched April 30 and is the only regulated pay-to-play website in the United States. Caesars Interactive hoped to launch the World Series of Poker website during the tournament, but the introduction now looks like a late-summer event.

The website will be operated in partnership with Gibraltar-based 888 Holdings. Together, the companies operate legal World Series of Poker websites in Europe. 888 Holdings was licensed by Nevada gaming regulators in March.

“It has been a good process with the Nevada Gaming Control Board,” Garber said. “Our technology is more complex and thus has taken us longer to ramp up.”

Once launched, Garber said the goal is to “dominate” the Nevada market with the World Series of Poker website. He said the company is supportive of efforts to increase the state’s player pool, such as through interstate gaming compacts.

“Nevada is a very important state,” Garber said, “and we don’t underestimate the number of visitors who come into the market and might want to play on laptops or mobile devices.”

The company’s goal is to offer customers incentives to play online, such as seats at the live tournament World Series of Poker, hotel rooms at one of Caesars’ 10 Strip-area resorts, or free meals at hundreds of restaurants.

“We are able to benefit from the thousands of rooms we have in Las Vegas and Nevada,” Garber said.

New Jersey offers a potentially more lucrative market.

Atlantic City’s 12 casinos will be allowed to offer table games and slots on the Internet, along with poker, and the state’s proximity to East Coast population centers open the market to customers in New York City and Philadelphia.

Garber said Caesars Interactive wants to offer a World Series of Poker website, along with a Caesars-branded website with full casino games.

“New Jersey is a large state with huge pass-through traffic,” Garber said. “We are hopeful when you combine the WSOP and Caesars brands it will resonate with the marketplace”

Garber, who was CEO of online gaming giant PartyGaming before joining Caesars, said Internet gaming continues to gain in popularity.

“Online ‘blank’ is growing, whatever you put into the blank,” Garber said. “Online shopping, online commerce, online stock trading, online social games; real money online gaming is growing and that is going to be a fact over the next decade.”

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871.
Follow @howardstutz on Twitter.

ad-high_impact_4
Business
Project billed as one of the world's largest marijuana dispensaries plans to open Nov. 1
Planet 13 co-CEO Larry Scheffler talks about what to expect from the new marijuana dispensary, Thursday, July 19, 2018. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Oasis Biotech opens in Las Vegas
Brock Leach, chief operating officer of Oasis Biotech, discusses the new plant factory at its grand opening on July 18. (Bailey Schulz/Las Vegas Review-Journal)
UNLV Tech Park innovation building breaks ground
Construction on the first innovation building at the UNLV Tech Park is underway. (Bailey Schulz/Las Vegas Review-Journal)
Caesars Forum Meeting Center
Caesars broke ground Monday on its $375 million Caesars Forum Meeting Center (convention center) just east of the High Roller observation wheel. (Caesars Entertainment)
Technology reshapes the pawn shop industry
Devin Battersby attaches a black-colored device to the back of her iPhone and snaps several of the inside and outside of a Louis Vuitton wallet. The device, installed with artificial intelligence capabilities, analyzes the images using a patented microscopic technology. Within a few minutes, Battersby receives an answer on her app. The designer item is authentic.
Recreational marijuana has been legal in Nevada for one year
Exhale Nevada CEO Pete Findley talks about the one year anniversary of the legalization of recreational marijuana in Nevada. (K.M. Cannon/Las Vegas Review-Journal)
Young adults aren't saving for retirement
Financial advisors talk about saving trends among young adults. (Bailey Schulz/Las Vegas Review-Journal)
President Trump’s tariffs could raise costs for real estate developers, analysts say
President Donald Trump made his fortune in real estate, but by slapping tariffs on imports from close allies, developers in Las Vegas and other cities could get hit hard.
Las Vegas business and tariffs
Barry Yost, co-owner of Precision Tube Laser, LLC, places a metal pipe into the TruLaser Tube 5000 laser cutting machine on Wednesday, June 20, 2018, in Las Vegas. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Nevada Film Office Connects Businesses To Producers
The director of the Nevada Film Office discusses its revamped locations database and how it will affect local businesses. (Bailey Schulz/Las Vegas Review-Journal)
Opendoor isn't the typical house flipping company
Unlike most house flippers, the company aims to make money from transaction costs rather than from selling homes for more than their purchase price.
The Venetian gondoliers sing Italian songs
Gondolier Marciano sings a the classic Italian song "Volare" as he leads guests through the canals of The Venetian in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal)
Building In Logandale
Texas homebuilder D.R. Horton bought 43 lots in rural Logandale. (Eli Segall/Las Vegas Review-Journal)
Indoor farming in Southern Nevada
Experts discuss Nevada's indoor farming industry. (Bailey Schulz/Las Vegas Review-Journal)
Former Fontainebleau could have become a Waldorf Astoria
Months after developer Steve Witkoff bought the Fontainebleau last summer, he unveiled plans to turn the mothballed hotel into a Marriott-managed resort called The Drew. But if Richard “Boz” Bosworth’s plans didn’t fall through, the north Las Vegas Strip tower could have become a Waldorf Astoria with several floors of timeshare units. (Eli Segall/Las Vegas Review-Journal)
LVCVA CEO Rossi Ralenkotter announces plans to retire
Rossi Ralenkotter, CEO of the LVCVA, on Tuesday confirmed a Las Vegas Review-Journal report that he is preparing to retire. Richard N. Velotta/ Las Vegas Review-Journal
Cousins Maine Lobster to open inside 2 Las Vegas Smith’s stores
Cousins Maine Lobster food truck company will open inside Las Vegas’ two newest Smith’s at Skye Canyon Park Drive and U.S. Highway 95, and at Warm Springs Road and Durango Drive. Cousins currently sells outside some Las Vegas Smith’s stores and at Fremont Street and Las Vegas Boulevard. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas home prices to continue to rise, expert says
Lawrence Yun, chief economist at the National Association of Realtors, gives homebuyers a pulse on the Las Vegas housing market. (Eli Segall/Las Vegas Review-Journal)
NV Energy announces clean energy investment
The company is planning to add six solar projects in Nevada, along with the state's first major battery energy storage capacity. Bailey Schulz/Las Vegas Review-Journal
3 Mario Batali restaurants on Las Vegas Strip to close
Days after new sexual misconduct allegations were made against celebrity chef Mario Batali, his company announced Friday that it will close its three Las Vegas restaurants July 27. Employees of Carnevino Italian Steakhouse, B&B Ristorante and Otto Enoteca e Pizzeria, all located in The Venetian and Palazzo resorts, were informed of the decision Friday morning. Bastianich is scheduled to visit the restaurants Friday to speak to employees about the next two months of operation as well as how the company plans to help them transition to new positions.
Nevada has its first cybersecurity apprenticeship program
The Learning Center education company in Las Vegas has launched the first apprenticeship program for cybersecurity in Nevada. It was approved by the State Apprenticeship Council on May 15. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas union members voting to authorize the right to strike
Thousands of Las Vegas union members voting Tuesday morning to authorize the right to strike. A “yes” vote would give the union negotiating committee the power to call a strike anytime after June 1 at the resorts that fail to reach an agreement. (Todd Prince/Las Vegas Review-Journal)
Small businesses struggle to find qualified candidates
A 2018 survey found that over two-thirds of small businesses in Nevada find it somewhat to very difficult to recruit qualified candidates. Bailey Schulz/Las Vegas Review-Journal
Nevada secretary of state website offers little protection against fraudulent business filings
Property developer Andy Pham tells how control of his business was easily seized by another person using the secretary of state website.
Caesars may be going solo in its marijuana policy
Several Southern Nevada casino companies aren’t following Caesars Entertainment’s lead on marijuana testing.
How much is the Lucky Dragon worth?
Less than a year-and-a-half after it opened, the Lucky Dragon was in bankruptcy.
Gyms and discount stores take over empty retail spaces
Grocery stores used to draw people to shopping centers. But many large retail spaces have been vacant since 2008. Discount stores like goodwill and gyms like EOS Fitness are filling those empty spaces, and helping to draw shoppers back in. K.M. Cannon/Las Vegas Review-Journal
Funding source of Las Vegas stadium for the Raiders is sound, expert says
The stadium is funded in part by $750 million of room taxes, the biggest such tax subsidy ever for a professional sports stadium. Robert Lang, executive director of Brookings Mountain West and The Lincy Institute at UNLV, says that is a good use of public funds. (Richard Velotta/Las Vegas Review-Journal)
Las Vegas needs light rail, expert says
Robert Lang, executive director of Brookings Mountain West and the Lincy Institute said he is afraid of a "congestion mobility crisis." Las Vegas needs a light rail system, he said, to accommodate the city's growing number of attractions. (Richard Velotta/Las Vegas Review-Journal)
Three takeaways from Wynn Resorts' Earnings Call
Matt Maddox came out swinging in his first earnings conference call as Wynn Resorts chief executive officer, boasting of record Las Vegas quarterly revenues and applicants lining up for work.
TOP NEWS
News Headlines
Add Event
Home Front Page Footer Listing
Circular
You May Like

You May Like