Combine low ARPU with perceived risk (in the wake of the Vegas hacks last year) and a termination for convenience clause and this is a no brained for Caesars. There’s just not enough upside for Caesars to host in their marquee properties.
im really sure you have found the answer, it’s most likely more of a perceived thing than any of us wants to admit. DEFCON attendees can be walking stereotypes at times anyways, but the combination of drunk, low yielding hacker(wo)men(tm) roaming your hotel probably just made the juice not worth the squeeze.
It's basically "a no harm, no faul" termination of an existing contract, and is fairly common in competitive markets where there is no long term strategic partnership to develop an unique product.
If it's the buyer terminating it's either because the product is either no longer needed or an cheaper supplier was found, and if it's the seller it's caused by all sorts of resource optimization reasons(aka someone being willing to pay more for the same limited resources, or an increase in cost making unprofitable).
