During a routine background check of Caesars’ business partners, they took issue with an investor in New York-based Gansevoort. The investor, a German businessman, is reputed to have ties to organized crime in Russia. Gansevoort was not expected to seek licensing by Nevada gaming regulators for the Strip project. The arraignment between Caesars and Gansevoort was strictly a licensing and marketing deal. A Caesars spokesman confirmed Sunday that Gansevoort was being dropped from $185 million Strip project and a new name would be chosen.
Before and after