Caesars Fortune Article

Anyone interested in the business side of Las Vegas should read the article A private equity gamble in Vegas gone wrong by William D. Cohan. In addition to being available online, the article will be in the June 15, 2015 issue of Fortune magazine with the headline Losing Las Vegas.

The article chronicles the misfortune of Caesars Entertainment, which is currently going through a partial bankruptcy.

Gary Loveman was instrumental in the growth of Caesars (then Harrah's). He was able to grow the company by using math to perfect the Total Rewards loyalty program. At the top of the market the company was taken private, saddling the company with a large amount of debt. With the economy crashing around 2008 the debt load was too large to handle, leading Caesars into a downward spiral they are still trying to fight their way out of.