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 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.
Caesars Entertainment, Inc. (NASDAQ: CZR) has launched its mobile sports betting app, Caesars Sportsbook, in Kansas, enhancing its Midwest presence. The app, available on iOS, Android, and desktop, offers unmatched rewards through the Caesars Rewards program, allowing users to earn Tier and Reward Credits with each bet. The platform features improved performance for a user-friendly experience. A special sign-up offer provides new users with additional credits and a risk-free first bet up to $1,250. Caesars emphasizes responsible gaming with tools to help manage gambling activities.
Gordon Ramsay HELL'S KITCHEN has officially opened at Harrah's Resort Southern California, marking its first location in California and the largest operational space to date at 11,360 square feet. The restaurant can accommodate 332 guests and features Chef Ramsay's signature dishes, including Beef Wellington and Sticky Toffee Pudding. Operating hours are 4:00 p.m. to 11:00 p.m. on Fridays and Saturdays, and 4:00 p.m. to 10:00 p.m. from Sunday to Thursday. This opening enhances Harrah's mission to provide unforgettable dining experiences.
Caesars Entertainment (NASDAQ: CZR) and the Eastern Band of Cherokee Indians have commenced construction on the $650 million Caesars Virginia project in Danville. Scheduled to open in late 2024, the resort will comprise a 500-room hotel, a casino with over 1,300 slots and 85 live table games, and a variety of dining and entertainment options. This development aims to drive tourism and create thousands of jobs in the region, enhancing the local economy through its extensive facilities and the Caesars Rewards loyalty program.
Caesars Entertainment reported Q2 2022 net revenues of $2.8 billion, up from $2.5 billion year-over-year. However, they faced a net loss of $123 million compared to a net income of $71 million in the same period last year. Same-store Adjusted EBITDA declined to $978 million from $1.0 billion. The Las Vegas segment saw a revenue increase of 33.6%, while the Caesars Digital segment reported a substantial loss of $69 million. The company repaid approximately $770 million in debt in 2022, reflecting ongoing efforts to improve financial stability.
Caesars Entertainment (NASDAQ: CZR) launched its mobile app, Caesars Sportsbook, in Wyoming, enhancing the state's sports betting capabilities. The new native iOS app focuses on speed and usability, integrating with the Caesars Rewards program for exclusive benefits. Users can earn rewards on every bet, and first-time players can receive a free bet up to $1,500 if their initial wager doesn't win. The app aims to provide a responsible gaming environment with built-in support tools. Currently, Caesars Sportsbook is operational in 24 locations across the U.S.
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