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) has launched WSOP.com, its online poker platform, in Michigan, marking its entry as the fourth state alongside Pennsylvania, Nevada, and New Jersey.
To celebrate, players can enjoy generous sign-up promotions, including $50 free upon registration and a 100% deposit match up to $1,000.
Notably, Joe Cada, the 2009 Main Event champion, is appointed as a local ambassador for WSOP.com, which features various live games and tournaments with substantial prize guarantees.
Caesars Entertainment is set to transform the Isle Casino Hotel in Black Hawk, Colorado into the legendary Horseshoe brand this summer. The renovation includes a new exterior, refreshed rooms, and a redesigned casino floor, emphasizing classic sophistication with the iconic gold horseshoe design. The transformation will enhance the guest experience in gaming, dining, and nightlife. A new WSOP® Poker Room is also planned. The complete makeover is expected to be finished by fall 2022, continuing Horseshoe's tradition of offering the best odds and limits in the gaming industry.
Walk-On's Sports Bistreaux is set to open its first location in Las Vegas on March 28, 2022, at Harrah's Las Vegas. This new restaurant will introduce a unique Louisiana-inspired menu with dishes such as Crawfish Etouffee and Duck & Andouille Gumbo. It will also feature a full breakfast menu, including new items like Chicken & Waffles. The opening promises to create 180 jobs and aims to enhance the dining experience on the Las Vegas Strip. Walk-On's has been recognized as Entrepreneur's '#1 Best Sports Bar Franchise' for two consecutive years, boasting a $5 Million AUV.
Morrissey has announced five new dates for his residency, “Morrissey: Viva Moz Vegas”, at The Colosseum at Caesars Palace in Las Vegas. The shows will take place on July 1, 2, 6, 8, and 9, 2022. Tickets go on sale to the public on March 25 at 10 a.m. PT. This residency marks Morrissey's third theatrical outing, following a successful Broadway run and recent tour dates with Interpol. Attendees can expect an engaging performance celebrating his entire career, including songs from his latest album “I Am Not A Dog on a Chain”.
Caesars Sportsbook and NYRA Bets have announced the launch of the Caesars Racebook, a new horse racing account wagering app set to debut in Spring 2022. This app will leverage the NYRA Bets platform, allowing users to place pari-mutuel wagers on over 250 tracks globally. The service will enhance the betting experience with features like race replays and handicapping insights. Both companies aim to improve consumer access to horse racing and offer Caesars Rewards for every wager placed on the app.
Caesars Entertainment, Inc. (NASDAQ: CZR) has launched its mobile sports wagering app, Caesars Sportsbook, throughout Illinois as of March 9, 2022. This app enables users to register and place bets on sports remotely, marking an expansion in the state. The platform, utilizing the advanced Liberty technology, enhances user experience and integrates with the Caesars Rewards program, offering benefits for bettors. New users can enjoy a sign-up offer insuring their first bet up to $1,100. Caesars Sportsbook operates in 22 states, highlighting its significant market presence.
Caesars Entertainment has announced a multi-year partnership with the Cleveland Cavaliers, designating Caesars Sportsbook as the team's 'Official Sports Betting Partner' and Caesars as the 'Official Casino Partner.' This collaboration includes the establishment of a new sportsbook at Rocket Mortgage FieldHouse, set to open by the end of 2022, pending regulatory approvals. The venue will feature betting windows, VIP experiences, and various amenities. This partnership aims to capitalize on the launch of sports betting in Ohio, enhancing customer engagement through Caesars Rewards and leveraging the Cavaliers' brand assets.
The 53rd World Series of Poker (WSOP) will take place from May 31 to July 20, 2022, marking its inaugural event on the Las Vegas Strip at Bally's and Paris Las Vegas. With over 200,000 square feet for tournaments and 600 poker tables, the series expects record participation, especially for the $10,000 Main Event, which coincides with the July 4 holiday. The opening weekend guarantees a $5,000,000 prize pool. New features include the Million Dollar Bounty tournament and the first-ever Tournament of Champions. Enhanced facilities and extensive media coverage are also planned.
Caesars Entertainment reported strong fourth-quarter results for 2021, with GAAP net revenues of $2.6 billion compared to $1.6 billion in the previous year. The GAAP net loss improved to $434 million from $555 million. Same-store Adjusted EBITDA rose to $581 million from $348 million. For the full year, revenues hit $9.6 billion, up from $3.6 billion, and the net loss decreased to $1.0 billion from $1.8 billion. Notably, Caesars has exceeded synergy targets from its merger with Eldorado Resorts and expanded its sportsbook to 22 markets.
Paysafe (NYSE: PSFE) has expanded its payment processing and affiliate services into the Louisiana and Oregon mobile sports betting markets. The company's partnerships with major sportsbooks like Caesars Entertainment (NASDAQ: CZR) and DraftKings (NASDAQ: DKNG) are set to capitalize on a projected annual market handle of
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