'DOJ Backs Suit Accusing Vegas Hotels Of Algorithmic Price-Fixing' - Bloomberg Law
Portfolio Pulse from Benzinga Newsdesk
The DOJ supports a lawsuit accusing Las Vegas hotels, including Caesars Entertainment Inc., of using algorithms to fix prices. The case, dismissed by a district court, is now on appeal and could impact similar future cases.
October 25, 2024 | 4:13 pm
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Caesars Entertainment Inc. is involved in a lawsuit supported by the DOJ, accusing it of using algorithms for price-fixing in Las Vegas hotels. The case is on appeal after being dismissed.
The DOJ's support for the lawsuit increases the legal pressure on Caesars Entertainment, potentially leading to negative sentiment and short-term stock price impact. The case's progression to a federal appeals court adds uncertainty.
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