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 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
Caesars Entertainment (NASDAQ: CZR) announced the launch of Caesars Sportsbook in Washington state after receiving a sports wagering license from the Washington State Gambling Commission. The expansion includes partnerships with Muckleshoot Casino, Spokane Tribe Casino, and Chewelah Casino, offering various sports betting options, including self-service kiosks and live betting. This initiative allows Washington sports bettors to engage with sports betting just in time for Super Bowl LVI, enhancing Caesars' market presence in the region.
The transformation of Lumière Place Casino & Hotel into Horseshoe Saint Louis is set for completion in spring 2022, enhancing the property's appeal. This shift brings a revitalized exterior, updated casino floor, new gaming options, and a Starbucks. The design emphasizes sophistication with luxurious materials while retaining Horseshoe's gaming heritage. The new WSOP® Poker Room will feature 10 tables and host tournaments soon. The move aims to attract more guests and enhance their gaming experience, staying true to Horseshoe's legacy of high-stakes gaming.
Caesars Sportsbook is set to debut its advertising during Super Bowl LVI with a 30-second spot featuring stars like Halle Berry and the Manning family. This ad is part of their 'Caesar and Cleo' campaign, focusing on family, fun, and football. The brand will also air two additional commercials during the Puppy Bowl on February 12-13, promoting responsible gaming and animal rescue. Currently operating in 22 states, Caesars offers a leading sports betting app with over 2,000 prop bets for the Super Bowl, complemented by its Caesars Rewards program.
Caesars Sportsbook has launched its most extensive prop betting menu for Super Bowl LVI, now available in 22 states and jurisdictions. This menu allows sports fans to bet on unique outcomes, including the opening coin toss and first player to score a touchdown. Additionally, the app features a new Super Bowl LVI Squares game. The betting landscape is boosted by the legalization of sports betting in various states, with expectations for record-breaking betting activity. Caesars Sportsbook continues to innovate in prop betting, enhancing the sports betting experience for fans nationwide.
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