DOJ files support for suit accusing Vegas hotels of price-fixing, Bloomberg says

The Justice Department filed an amicus brief in the U.S. Court of Appeals for the Ninth Circuit supporting customers who accused Caesars Entertainment (CZR) and other Las Vegas hotel companies of using algorithms to fix prices, reported Bloomberg’s Katie Arcieri. The DOJ is quotes as having said in its brief: “Pricing algorithms can process more information more rapidly than humans aided by prior communications technologies. For this reason, such algorithms can increase the means and opportunities for collusion among competitors.” A group of consumer plaintiffs who stayed at various Vegas hotels filed an appeal to the Ninth Circuit after Judge Miranda Du of the U.S. District Court for the District of Nevada dismissed the case in May, the report noted. Other publicly traded companies in the casino gaming space include Boyd Gaming (BYD), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn Entertainment (PENN), Red Rock Resorts (RRR) and Wynn Resorts (WYNN).