Caesars Atlantic City. Feds Jump Into Algorithmic Pricing Suit, Say Collusion Can Occur Without Humans Uttering a Word
The Department of Justice and Federal Trade Commission are worried that the growing use of algorithms is making price fixing increasingly difficult to detect—and that the use of AI to create ever-more-sophisticated algorithms will exacerbate that challenge.
March 29, 2024 at 06:23 AM
4 minute read
What You Need to Know
- A class-action lawsuit filed last year alleged that Atlantic City hotels engaged in price fixing by knowingly adopting the same algorithmic pricing platform.
- The defendants want the suit dismissed, saying plaintiffs failed to meet their burden of showing when or how conspirators arranged their scheme.
- The DOJ and FTC say the defendants have no such burden and can prevail without showing the hotels even communicated.
Federal antitrust enforcers say competing casino hotels illegally colluded to set room rates by knowingly adopting the same algorithmic pricing platform, a tacit agreement that amounts to an antitrust violation, even if the hotels never communicated directly.
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