{"id":13573,"date":"2016-02-06T03:01:57","date_gmt":"2016-02-06T11:01:57","guid":{"rendered":"https:\/\/www.casino.org\/vitalvegas\/?p=13573"},"modified":"2024-10-25T08:16:39","modified_gmt":"2024-10-25T15:16:39","slug":"a-rare-peek-inside-gordon-ramsays-relationship-with-caesars-entertainment","status":"publish","type":"post","link":"https:\/\/www.casino.org\/vitalvegas\/a-rare-peek-inside-gordon-ramsays-relationship-with-caesars-entertainment\/","title":{"rendered":"A Rare Peek Inside Gordon Ramsay’s Relationship With Caesars Entertainment"},"content":{"rendered":"\n

One of the upsides of filing bankruptcy is some inside stuff becomes public stuff. This is some of that stuff. And it involves a celebrity chef, none other than Gordon Ramsay.<\/p>\n

Caesars Entertainment’s bankruptcy is complex, and the company is trying to juggle its obligations and relationships as the process sorts itself out.<\/p>\n

One of those relationships is with Gordon Ramsay. Ramsay has three restaurants in Las Vegas with his name on them, and the Caesars bankruptcy has provided a unique opportunity to get all up inside the business dealings of these two parties.<\/p>\n

\"Gordon
This Las Vegas blog loves it some Gordon Ramsay, and his BurGR at Planet Hollywood puts out some of the best burgers in Sin City. No joke.<\/figcaption><\/figure>\n

Caesars has negotiated a new contract with chef Ramsay that should save the company $144,000 a year. That includes fees paid to Ramsay for licensing his name.<\/p>\n

Caesars Entertainment has 10-year deals with Ramsay, with optional five-year extensions. They allow Ramsay to develop the menus at his namesake eateries, but the contracts require the food be mainly “pub-style dishes.”<\/p>\n

The chef is required to visit his Las Vegas locations at least once each year, for at least 24 consecutive hours.<\/p>\n

Ramsay is contractually obligated to allow himself to be photographed at his restaurants.<\/p>\n

\"Gordon
Gordon Ramsay shaking it at one of his biggest Las Vegas money-makers, Gordon Ramsay Steak at Paris Las Vegas.<\/figcaption><\/figure>\n

According to a story in the Wall Street Journal<\/a>, Caesars pays Ramsay’s air transportation, either in first class commercially or via private jet.<\/p>\n

Once Ramsay arrives, Caesars is obligated to provide him with three deluxe rooms, presumably at Caesars Palace, the location of Gordon Ramsay’s Pub & Grill.<\/p>\n

While the rooms are contractually free, Gordon Ramsay is responsible for incidental room charges, including room service. Ramsay does get a sweet 30% discount, however.<\/p>\n

Now, we get a look into the juiciest part of the arrangement with Gordon Ramsay.<\/p>\n

For his Las Vegas restaurants, Ramsay gets five percent of gross sales up to $10 million. Sales in the $10-15 million range earn a 5.5% cut, and sales of more than $15 million result in a 6% windfall.<\/p>\n

By all accounts, Ramsay’s three restaurants in Las Vegas have been very successful. He’s got another on the way with Gordon Ramsay’s Fish & Chips, opening in 2016 in The Linq promenade.<\/p>\n

\"Gordon
Ramsay’s new restaurant was named Gordon Ramsay’s Fish & Chips only after an unsuccessful bid by chip to get more prominent billing.<\/figcaption><\/figure>\n

However, Caesars can end its relationship with Ramsay if the restaurants don’t hit sales targets. His Las Vegas restaurants must gross at least $8 million a year.<\/p>\n

Perhaps the quirkiest part of this financial dance is the fact Caesars Entertainment can dump Gordon Ramsay if his company (wait for it) files for bankruptcy.<\/p>\n

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