Welcome to our dedicated page for Caesars Entertainment news (Ticker: CZR), a resource for investors and traders seeking the latest updates and insights on Caesars Entertainment stock.
Caesars Entertainment, Inc. (symbol: CZR) stands as the world's most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. Originating in Reno, Nevada, 75 years ago, Caesars has flourished into a global powerhouse, operating 50 casinos across 13 U.S. states and five international countries. Its well-known brands, including Caesars, Harrah's, and Horseshoe, are synonymous with high-quality entertainment and luxury.
Caesars' expansion was significantly bolstered by the 2020 acquisition by Eldorado Resorts, which doubled its U.S. footprint. Today, the company’s portfolio includes notable properties such as Tropicana, Bally's, Isle, and Flamingo. Additionally, Caesars owns the U.S. segment of William Hill, a leading digital sports betting platform, which it divested from its international operations in 2022.
The company generates substantial revenue from both its Las Vegas (49% of 2023 EBITDAR before corporate expenses) and regional markets (48%). Beyond physical casinos, Caesars also manages properties and digital assets, which have shown promising, albeit marginal, EBITDA in recent years. Caesars Entertainment remains committed to innovation, driven by a collaborative culture that values accountability, passion, and idea sharing.
Recent achievements highlight Caesars' forward-thinking approach. For instance, the sale of Casinos.com in 2022 for a multi-million-dollar deal underscores its strategic investments in high-value digital assets. The company also continually seeks talented individuals who share its core values and dedication to exceptional guest experiences, team member engagement, community impact, and environmental stewardship.
As Caesars Entertainment looks to the future, it remains a beacon of excellence in the casino-entertainment industry, blending tradition with cutting-edge innovation to offer unparalleled experiences to its guests and stakeholders around the world.
Caesars Entertainment, Inc. (NASDAQ: CZR) will announce its Q1 2023 financial results after market close on May 2, 2023. A conference call will follow at 5:00 p.m. ET to discuss the results. Interested participants can register here. Caesars is the largest casino-entertainment company in the U.S., offering diverse gaming and hospitality experiences.
Paysafe (NYSE: PSFE) has expanded into the Massachusetts mobile sports betting market, marking its entry as the 26th U.S. iGaming jurisdiction. The market is projected to generate over $295 million in first-year revenue. Paysafe enhances payment solutions for various mobile sportsbooks, enabling secure deposits via debit cards and alternative payment methods. This move strengthens its long-term partnerships with DraftKings (NASDAQ: DKNG) and Caesars Entertainment (NASDAQ: CZR), fostering growth in Massachusetts's emerging sports betting scene. The company aims to aid operators in player acquisition and retention.
GRAMMY Award-winning artist Kelly Clarkson will headline an exclusive engagement titled chemistry…an intimate night with Kelly Clarkson at the Bakkt Theater, Planet Hollywood Resort & Casino, starting on July 28, 2023. This intimate show, built for the venue, will showcase highlights from her extensive music career. Tickets go on sale on March 31, 2023, with presale options available for Citi cardmembers and Caesars Rewards members. Clarkson, known for her remarkable achievements including over 25 million albums sold, aims to create a memorable experience for fans in Las Vegas, echoing the city's vibrant energy.
Caesars Entertainment's live entertainment venue at Planet Hollywood Resort & Casino has been renamed to Bakkt Theater, effective March 24. This rebranding follows multimillion-dollar enhancements, including upgraded artist amenities and state-of-the-art audio capabilities. The venue, previously known as Zappos Theater, is set to host major acts, starting with Miranda Lambert's residency. The collaboration with Bakkt allows Caesars Rewards members to soon redeem credits through Bakkt's cryptocurrency solutions, pending regulatory approval. This partnership aims to enhance the customer experience and utilize Bakkt's cryptocurrency offerings.
Global music superstar Keith Urban has extended his Las Vegas residency at Zappos Theater in Planet Hollywood Resort & Casino through November 2023. Starting March 18, new ticket sales will be available, including presale options for fan club and Citi card members. Urban's show promises a two-hour musical journey featuring hits like "Somebody Like You" and "Blue Ain't Your Color," alongside new songs. The additional November dates include performances on November 1, 3, 4, 10, 11, 15, 17, and 18. Urban's residency showcases his acclaimed live performance skills and marks his return to the stage following an extensive tour in 2022.
Bakkt Holdings has announced a strategic partnership with Caesars Entertainment, renaming Planet Hollywood's live entertainment venue to Bakkt Theater. This collaboration allows Caesars Rewards members to redeem rewards through Bakkt Crypto Rewards, pending regulatory approval. Both companies aim to enhance customer experience in the evolving digital economy, integrating cryptocurrency solutions into the loyalty program. Bakkt continues to develop its crypto offerings, with plans to share further details soon.
Jeff Dunham and his characters announce six performance dates for the show "Still Not Canceled" at Zappos Theater, Planet Hollywood Resort & Casino. The shows are scheduled for May 28, July 16, September 3, October 22, November 12, and December 8, 2023. General ticket sales begin on March 4, 2023, with presales for fan club members starting on March 1 and for Caesars Rewards members on March 2. Dunham, notably a top-selling comedian, has earned significant acclaim and viewership through his specials and successful global tours.
Caesars Entertainment reported strong fourth quarter and full-year results for 2022. Fourth quarter GAAP net revenues hit $2.8 billion, up from $2.6 billion year-over-year, with a reduced net loss of $148 million compared to a loss of $434 million in the prior year. Same-store Adjusted EBITDA surged to $957 million, reflecting growth across Las Vegas and Regional segments. For the full year, revenues reached $10.8 billion, a significant increase from $9.6 billion, and net loss narrowed to $899 million from $1.0 billion. Caesars also highlighted reduced total debt by over $1.2 billion and a strong foundation for 2023, buoyed by enhanced consumer demand in all verticals.
On February 16, 2023, Caesars Entertainment and SL Green Realty Corp announced an expansion of their Caesars Rewards partnership to local merchants in New York City. This initiative is part of their bid for a gaming license in Times Square. The partnership will allow Caesars Rewards members to convert Reward Credits into gift cards for use at a network of participating businesses. The companies aim to boost local economies and will sign up merchants as they seek the necessary gaming license. Caesars plans to develop a 250,000 square foot gaming venue with a 950-room hotel, funded entirely through private investment.
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