Caesars Entertainment Donates $3.1M to Local and National Non-Profit Organizations Across the Country Through Caesars Foundation

Rhea-AI Summary

Caesars Entertainment (NASDAQ: CZR) has announced a $3.1 million donation to various non-profit organizations through its Caesars Foundation. The company also raised an additional $1 million for Boys & Girls Clubs of America through its Caesars Makes Change program, which allows casino guests to donate a portion of their slot ticket payouts.

Key highlights include:

• A new partnership with the Arbor Day Foundation for environmental sustainability
• $827,110 of the $1 million raised goes directly to Boys & Girls Clubs of America's national program
• Caesars Makes Change program is now available in over 40 destinations
• Caesars is an official back-to-school partner of Boys & Girls Clubs of America

The company continues to demonstrate its commitment to corporate social responsibility and community support through these initiatives.

Positive

• Donated $3.1 million to various non-profit organizations
• Raised an additional $1 million for Boys & Girls Clubs of America through guest donations
• Expanded Caesars Makes Change program to over 40 destinations
• Formed new partnership with Arbor Day Foundation for environmental sustainability

Negative

• None.

Insights

Corporate Social Responsibility Expert

Caesars Entertainment's $3.1 million donation through its Foundation and the additional $1 million raised via the Caesars Makes Change program demonstrate a significant commitment to corporate social responsibility (CSR). While commendable, this news is unlikely to have a substantial impact on the company's stock performance or financial outlook.

The donation strategy aligns with industry trends, focusing on community development, youth empowerment and environmental sustainability. The partnership with the Arbor Day Foundation, in particular, reflects a growing emphasis on environmental initiatives in the hospitality sector. However, the financial scale of these donations, while meaningful for the recipients, is relatively small compared to Caesars' overall operations.

The Caesars Makes Change program is an innovative approach to engage customers in philanthropic efforts. This could potentially enhance brand loyalty and customer satisfaction, but its direct impact on revenue or profitability is likely minimal. The program's expansion to over 40 destinations indicates a successful rollout, which could lead to increased customer participation over time.

From an investor's perspective, while these CSR initiatives contribute to positive brand image and potential long-term value creation, they are unlikely to significantly influence short-term financial performance or stock valuation. The primary value lies in risk mitigation and reputation management, which are important but often intangible factors in the gaming and hospitality industry.

Financial Analyst

The $4.1 million in total donations, while substantial in absolute terms, is relatively insignificant when considering Caesars Entertainment's financial scale. For context, Caesars reported $2.9 billion in net revenues for Q2 2023. The donations represent approximately 0.14% of a single quarter's revenue, suggesting minimal impact on the company's financial statements or stock performance.

However, the Caesars Makes Change program presents an interesting angle. By allowing casino guests to donate a portion of their winnings, Caesars is effectively creating a no-cost CSR initiative. This program could potentially:

• Enhance customer engagement and loyalty
• Provide tax benefits for the company
• Generate positive PR at minimal cost

From a financial perspective, the real value of these initiatives lies in their potential to mitigate risks associated with social and environmental factors, which are increasingly important to investors, particularly those focused on ESG criteria. While difficult to quantify, strong CSR practices can contribute to long-term value creation by:

• Reducing regulatory risks
• Improving employee retention and attraction
• Enhancing brand value and customer loyalty

Investors should view these donations and programs as part of Caesars' broader strategy to maintain its social license to operate in an industry that often faces scrutiny. While not directly impacting near-term financial metrics, these initiatives contribute to the company's long-term sustainability and risk management profile.

08/01/2024 - 10:00 AM

Additional $1M From the Company’s Visionary Caesars Makes Change Program Raised by Casino Guests for Boys & Girls Clubs of America

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LAS VEGAS--(BUSINESS WIRE)-- Caesars Entertainment, Inc. (NASDAQ: CZR), the largest casino-entertainment company in the U.S., has shared details on a $3.1 million donation to dozens of national and local non-profit organizations through the Company’s corporate giving platform, the Caesars Foundation. This year’s grant includes continued support for organizations like Boys & Girls Clubs of America and a new partnership with the Arbor Day Foundation that aligns closely with the Company’s pursuit of environmental sustainability through tree planting in forests and neighborhoods with the greatest need.

In addition to the Foundation grant, the Company is celebrating a $1 million gift to Boys & Girls Clubs of America through its Caesars Makes Change program, with $827,110 directly supporting the national program and the balance going to local clubs. The Caesars Makes Change program is now available in more than 40 destinations across the Company’s gaming portfolio and offers casino guests the option to donate a portion of their cash payout to a charitable organization when redeeming their slot tickets. The program officially launched in May 2022.

“We’ve always believed that we are better together, and the Caesars Makes Change program is a testament to that,” said Anthony Carano, President & COO of Caesars Entertainment. “Through the generosity of our guests, we were able to not only provide our Foundation grant to Boys & Girls Clubs of America this year, but we were also able to provide additional funds raised by our patrons, allowing Boys & Girls Clubs to continue to provide invaluable resources in communities across the country. We’re proud to offer the Caesars Makes Change program in our casinos nationwide to provide resources to organizations in the communities where we live, work and play.”

In addition to the Caesars Makes Change and Foundation grant donation, Caesars Entertainment executives visited one of the Boys & Girls Clubs of Southern Nevada on July 31 to present Caesars Makes Change and Caesars Foundation gifts and volunteer with the Club kids. The Company is also an official back-to-school partner of Boys & Girls Clubs of America, coordinating opportunities for Team Members to volunteer and hosting school supply drives and fundraisers to prepare Club kids for a successful school year.

"Caesars' generosity has enhanced our ability to impact the lives of countless young people, fostering their growth and potential," said Andy Bischel, President & CEO of Boys & Girls Clubs of Southern Nevada. "Their commitment to our mission enables us to continue to offer life-changing opportunities to our members, setting them on a path to a Great Future!"

Other key partner organizations that received a Caesars Foundation donation include:

• The WASH Foundation (formerly Clean the World)
• International Center for Responsible Gaming
• Meals on Wheels America
• National Park Trust
• Public Education Foundation
• Second Wind Dreams
• IX's Foundation
• Legal Aid Center of Southern Nevada

The Caesars Foundation is a private foundation funded by resorts owned or operated by Caesars Entertainment and is the entity through which Caesars funds non-profit programs. The Foundation is dedicated to supporting the communities in which Caesars Entertainment operates with an ongoing commitment to economic development while improving the quality of life of Team Members and their families, the community, and society at large. To learn more about Caesars Entertainment's corporate social responsibility, please visit www.caesars.com/corporate.

About Caesars Entertainment, Inc.

Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment company in the US and one of the world's most diversified casino-entertainment providers. Since its beginning in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.'s resorts operate primarily under the Caesars®, Harrah's®, Horseshoe®, and Eldorado® brand names. Caesars Entertainment, Inc. offers diversified gaming, entertainment and hospitality amenities, one-of-a-kind destinations, and a full suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the company focuses on building value with its guests through a unique combination of impeccable service, operational excellence, and technology leadership. Caesars is committed to its employees, suppliers, communities, and the environment through its PEOPLE PLANET PLAY framework. To review our latest CSR report, please visit www.caesars.com/corporate-social-responsibility/csr-reports. Know When To Stop Before You Start.® Gambling Problem? Call 1-800-GAMBLER. For more information, please visit www.caesars.com/corporate.

About Boys & Girls Clubs of America

For more than 160 years, Boys & Girls Clubs of America (BGCA.org) has provided a safe place for kids and teens to learn and grow. Clubs offer caring adult mentors, fun and friendship, and high-impact youth development programs on a daily basis during critical non-school hours. Boys & Girls Clubs programming promotes academic success, good character and leadership, and healthy lifestyles. Over 5,400 Clubs serve more than 3 million young people through Club membership and community outreach. Clubs are located in cities, towns, public housing and on Native lands throughout the country, and serve military families in BGCA-affiliated Youth Centers on U.S. military installations worldwide. The national headquarters is located in Atlanta. Learn more about Boys & Girls Clubs of America on Facebook and X.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240801506307/en/

Caesars Entertainment

Dayna Calkins

dcalkins@caesars.com

Source: Caesars Entertainment, Inc.

FAQ

How much did Caesars Entertainment donate through its Foundation in 2023?

Caesars Entertainment donated $3.1 million to various national and local non-profit organizations through the Caesars Foundation in 2023.

What is the Caesars Makes Change program for CZR stock?

The Caesars Makes Change program is a charitable initiative that allows casino guests to donate a portion of their slot ticket payouts to selected organizations. It's available in over 40 Caesars Entertainment destinations.

How much did Caesars Entertainment raise for Boys & Girls Clubs of America in 2023?

Caesars Entertainment raised $1 million for Boys & Girls Clubs of America through its Caesars Makes Change program in 2023, with $827,110 going directly to the national program.

What new partnership did Caesars Entertainment (CZR) announce for environmental sustainability?

Caesars Entertainment announced a new partnership with the Arbor Day Foundation to support environmental sustainability through tree planting in forests and neighborhoods with the greatest need.