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In a separate statement, Caesars said it had ended its relationship with Gansevoort Hotel Group, a company with which it had been redeveloping a property on the Las Vegas Strip.
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(Reuters) - Caesars Entertainment Inc, the latest U.S. casino operator to fall under federal scrutiny, is pulling out of a $1 billion joint venture in Boston after background checks by a local gaming regulator. Caesars, which denies any wrongdoing, said in a regulatory filing on Monday that it would.


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(Reuters) - Caesars Entertainment Inc, the latest U.S. casino operator to fall under federal scrutiny, is pulling out of a $1 billion joint venture in Boston after background checks by a local gaming regulator. Caesars, which denies any wrongdoing, said in a regulatory filing on Monday that it would.


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Caesars exits Boston casino project, says unit under federal probe - Reuters
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In a separate statement, Caesars said it had ended its relationship with Gansevoort Hotel Group, a company with which it had been redeveloping a property on the Las Vegas Strip.
Gansevoort Hotel Group did not immediately respond to a request for comment.
The two firms, along with billionaire John Paulson, together own about 80 percent of Caesars.
Ian Weissman, managing director of brokerage ISI Group, said Caesars had quit the Boston project before the Massachusetts Gaming Commission could rule on its suitability as a potential caesars boston casino holder.
South Korea rejected preliminary casino licenses in June for two international bidders, including a consortium of Caesars and Lippo Ltd.
FINANCIAL CRACKDOWN Casinos have only been permitted in Massachusetts since 2011.
Seven projects, backed by big casino operators including Wynn Resorts Ltd and MGM Resorts International, are pursuing three licenses in the state.
Nationwide, casino operators are facing increased scrutiny.
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Apparently outmaneuvering billionaire Steve Wynn in his goal of opening Massachusetts to casino gambling, Caesars Entertainment CEO Gary Loveman is about to ink a deal to run a casino at Suffolk.


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