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.
The World Series of Poker (WSOP), hosted by Caesars Entertainment (CZR), is set for its 54th tournament from May 30 to July 18, 2023, at Paris Las Vegas and the future Horseshoe. The event follows a record-breaking $347.9 million total prize pool in 2022, attracting 197,626 entrants. The Main Event will take place between July 3 and 6, with multiple starting days and a $10,000 buy-in. Early booking for reduced room rates is available. The full tournament schedule will be announced in 2023.
Spiegelworld will debut The Hook at Caesars Atlantic City on June 30, 2023, marking the city's first permanent live entertainment destination. The venue will host a multi-million-dollar renovation of the iconic Warner Theatre, featuring a world-premiere live show and the acclaimed Superfrico restaurant. This initiative is part of a larger $400 million investment by Caesars Entertainment in Atlantic City, which includes new dining options and upgraded accommodations. Tickets are now on sale.
Genius Sports and the NFL have expanded their partnership to provide U.S. sportsbooks with live video streams of select NFL games. Caesars Sportsbook is the first to offer this unique 'Watch & Bet' feature on mobile devices, enhancing the in-game betting experience for its users. This partnership allows for data-driven betting opportunities alongside live streaming, utilizing Genius Sports' technology for engaging fan experiences. The initiative aims to boost market share in North America, leveraging the NFL's popularity and official data integration.
Miranda Lambert has extended her acclaimed Las Vegas residency, "Velvet Rodeo," at the Zappos Theater through the end of 2023, driven by strong fan demand. The new shows, totaling 16, are scheduled for July, November, and December 2023. With 11 shows already completed, Lambert's residency has garnered praise from multiple sources, highlighting her vocal prowess and engaging performances. Tickets go on sale to the public on Dec. 9, with presale options for fan club members and Citi cardholders starting on Dec. 5. A portion of ticket sales will support Lambert's MuttNation Foundation.
Caesars Entertainment has launched its mobile sports wagering app, Caesars Sportsbook, in Maryland, allowing users to place bets via iOS, Android, or desktop. The app offers enhanced features including live scoreboards and various betting options. Sign-up promotions for new users include a $100 bet credit for first bets between $20 and $100, or up to $1,500 in credits for larger bets. The launch is supported by a commitment to diversity, with 40% ownership interest held by women and minority partners. Caesars aims to promote responsible gaming with additional educational offerings.
Caesars Entertainment has launched Ramsay's Kitchen, created by multi-Michelin-starred chef Gordon Ramsay, at Harrah's Las Vegas. The restaurant officially opened on November 16, 2022, marking Ramsay's sixth culinary establishment in Las Vegas. The venue offers an upscale dining experience with a menu featuring signature dishes such as Beef Wellington and Jumbo Lump Crab Cakes, along with a selection of cocktails. Designed by AO, the restaurant accommodates 244 guests and is open daily from 11 a.m. to 11 p.m..
Garth Brooks has announced a new residency titled Garth Brooks/Plus ONE at the Colosseum at Caesars Palace, starting in 2023. The show promises unique performances with varying band members and occasional special guests. Tickets will be available through Ticketmaster Verified Fan, with registration open until November 17, 8 a.m. PT. A special Citi Presale is also available for cardholders. A commemorative boxed set, Garth Brooks LIVE LIVE, is available for pre-order. This residency adds to Caesars Palace's entertainment legacy, enhancing its market appeal.
On November 10, 2022, graduate students from NYU's School of Professional Studies collaborated with Caesars Sportsbook during a New York Rangers game to discuss responsible gaming. This initiative is part of a semester-long course aimed at promoting responsible gaming awareness. Students received insights into Caesars' marketing strategies and presented their own marketing plans. VP Jeff Gonyo emphasized the importance of innovation in sports betting. Caesars is committed to responsible gaming through programs and tools that help guests gamble responsibly, reflecting a long-standing focus on this issue.
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