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) has successfully closed new senior secured credit facilities amounting to $3 billion. This includes a $750 million term loan and a $2.25 billion revolving credit facility. The funds from the term loan are being used to prepay $750 million of existing term loans, due in December 2024. The interest rate on these facilities is based on the secured overnight financing rate plus 10 basis points and an applicable margin of 225 basis points. This refinancing aims to reduce interest expense and extend debt maturities.
Rod Stewart will return to Las Vegas for his residency, "Rod Stewart: The Hits." at The Colosseum at Caesars Palace, featuring 13 performances from May 3 - 15 and November 10 - 22, 2023. Tickets go on sale to the public on October 7 at 10 a.m. PT. Presales for fan club members and Citi cardholders are from October 4 - 6. The show offers an intimate concert experience, showcasing Stewart's greatest hits from over five decades, with no seat more than 145 feet from the stage.
Caesars Entertainment, Inc. (NASDAQ: CZR) is set to release its third quarter 2022 financial results on November 1, 2022, after market close. A conference call will follow at 5:00 p.m. Eastern Time to discuss results and corporate updates. Participants can register here. Caesars is recognized as a leading casino-entertainment company globally, operating under brands like Caesars, Harrah's, and Horseshoe, offering a wide range of gaming and hospitality services.
Dominique Ansel Las Vegas, the latest bakery by award-winning pastry chef Dominique Ansel, will open on October 21 at Caesars Palace. Known for his iconic Cronut®, Ansel will feature exclusive pastries like the Lucky 7 collection, which includes unique creations like Lucky Penny Pig and Evil Eye Éclair. The bakery will offer a café-style setting and operate from 7 a.m. to 9 p.m. on weekdays and 7 a.m. to 10 p.m. on weekends. Guests can also enjoy classic French viennoiserie made with high-quality ingredients.
Paysafe has expanded its presence in the U.S. by entering the Kansas online sports-betting market, now supporting multiple sportsbooks with deposit options and affiliate marketing services. This marks the 23rd U.S. state where Paysafe operates, with forecasts predicting Kansas will generate $1.78 billion in sports-betting revenue in its first year. Earnings from this expansion are expected to contribute positively as Paysafe strengthens partnerships with major operators like Caesars, DraftKings, and PointsBet, enhancing player acquisition and retention capabilities.
Caesars Palace in Las Vegas has unveiled a multimillion-dollar renovation of its main entrance, enhancing the guest arrival experience. Key features include a coffered ceiling, an intricate marble mosaic floor, and a 15-foot-tall Carrara marble statue of Augustus Caesar. The lobby now features the new Galleria Bar, offering cocktails and slot machines. Additionally, two state-of-the-art gaming pits have been added, and the casino dome features a grand chandelier weighing approximately 3,200 pounds. This renovation reflects Caesars Entertainment's commitment to providing unparalleled luxury to its guests.
Caesars Entertainment has announced that Donny Osmond is extending his award-winning solo residency at Harrah's Las Vegas into 2023 due to popular demand. The show has received accolades including Best Show and Best Headliner in the 2021 Best of Vegas awards. Upcoming performances include select dates from January to May 2023. Tickets will be available for purchase starting September 23, 2022, with presale access on September 22 for members and customers. The show promises a dynamic experience featuring Osmond's hits and an interactive segment.
Caesars Entertainment (CZR) has launched the Caesars Sportsbook & Casino Truck Tour, a nationwide fan engagement initiative debuting on Sept. 19 in Orchard Park, NY. The 18-wheeler will visit major sporting events, offering unique experiences, including a premium sportsbook lounge and collaborations with Omaha Productions and ESPN. The tour emphasizes responsible gaming and aims to enhance customer loyalty through Caesars Rewards. The truck will stop at various locations, culminating at Super Bowl LVII. Caesars continues to prioritize customer engagement and responsible gaming practices.
Caesars Entertainment has inaugurated two new Caesars Sportsbook locations at Harrah's New Orleans and Horseshoe Bossier City, enhancing its presence in Louisiana's gaming sector. The New Orleans venue features a 5,700-square-foot sportsbook and the state's largest poker room. A $325 million renovation is ongoing at Harrah's, expected to complete by 2024. Notable opening events included ceremonial bets from local celebrities. The new facilities aim to bolster Caesars' commitment to Louisiana, providing improved sports betting experiences and integrating with the Caesars Rewards program.
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