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.
Sting has launched his residency, "My Songs," at The Colosseum at Caesars Palace in Las Vegas, featuring hits from his illustrious career, including "Roxanne" and "Every Breath You Take." Produced by the Cherrytree Music Company, Live Nation, and Caesars Entertainment, the residency runs through November 13, 2021, and will resume in June 2022. Tickets are currently available, including VIP packages that offer unique experiences. Sting's new album, The Bridge, will be released on November 19, showcasing his diverse songwriting talents amidst the pandemic's challenges.
On October 31, 2021, Caesars Entertainment (NASDAQ: CZR) launched in-person sports betting at Harrah's New Orleans and Horseshoe Bossier City, marking a historic milestone for the Louisiana market. The first bets were placed during simultaneous events, including a ceremonial bet by former NFL player Bobby Hebert. The company anticipates the launch of mobile betting once it receives regulatory approval. Caesars is committed to enhancing customer experience through its sports betting offerings and plans for new retail sportsbooks and extensive renovations at existing locations.
On October 22, 2021, Caesars Entertainment announced the launch of its Caesars Sportsbook app in Louisiana, coinciding with the state's legalized mobile sports betting. Eligible fans can download the app to access various betting options and promotions. Early registrants will receive a $100 Free Bet bonus and additional bonuses based on local team scores during launch week. Caesars also plans to offer in-person betting at Harrah's New Orleans and Horseshoe Bossier City. This launch aligns with Caesars' commitment to Louisiana, highlighted by a naming partnership with the New Orleans Saints.
Caesars Entertainment, Inc. (NASDAQ: CZR) announced the appointment of Sandra Douglass Morgan to its Board of Directors, effective November 7, 2021, pending regulatory approvals. Morgan, previously chairwoman of the Nevada Gaming Control Board, is the first African American to hold this position. Her extensive experience includes implementing key regulatory changes in the gaming industry. The addition of Morgan aims to enhance the board's expertise and perspective as the gaming landscape evolves. Following her appointment, the board will expand to 10 members.
On October 18, 2021, Caesars Entertainment announced the expansion of Bobby Flay's fast-casual brand, Bobby's Burgers, to two new locations in Las Vegas: Harrah's and Paris Las Vegas. The new outlets, set to open in December 2021 and March 2022 respectively, will feature Flay's signature burgers and high-quality, made-to-order recipes at competitive prices. The menu includes unique items like the Crunchburger and Bobby Blue + Bacon Burger, along with various sides and milkshakes. The expansion underscores the successful partnership between Flay and Caesars, enhancing the culinary experience for guests on the Strip.
Caesars Entertainment has partnered with Spiegelworld to invest nearly $75 million in creating three new live entertainment shows at its resorts in Las Vegas, Atlantic City, and New Orleans. The collaboration includes the launch of DiscoShow at The LINQ Hotel in Las Vegas by late 2022, a new theater in Atlantic City in early 2023, and a show in New Orleans in 2024. This deal aims to enhance Caesars' entertainment portfolio and appeal to local audiences while rejuvenating the entertainment scene in these cities.
LAS VEGAS, Oct. 11, 2021 /PRNewswire/ -- Nobu Hotel Caesars Palace celebrates its eighth anniversary by initiating a multimillion-dollar renovation of its 182 guest rooms and public areas, expected to finish by year-end 2021. This renovation, designed by Rockwell Group, aims to modernize the hotel's aesthetic, incorporating elements inspired by the Japanese art of kintsugi. Furthermore, Caesars Entertainment and Nobu Hospitality have announced plans for new Nobu Hotels and restaurants in various locations, expanding their partnership.
On October 8, 2021, Caesars Entertainment (CZR) announced the expiration of its tender offer for up to $1.2 billion of its 5.250% Senior Notes due 2025. The final settlement resulted in the acceptance of $889,281,000 of the notes, or approximately 52.31% of the total outstanding. Holders of validly tendered notes received the agreed consideration and accrued interest. The tender offer was executed according to the terms outlined in the Offer Documents dated September 10, 2021.
Global megastar Usher announced two additional dates for his Las Vegas residency at The Colosseum at Caesars Palace on December 23 and 24, 2021, due to high demand. The shows are set to feature an immersive experience with extravagant costumes and high-tech effects, showcasing hits from Usher's 20-year career. Tickets go on sale on October 9, with presales starting for Citi cardmembers and loyalty program members on October 6 and October 7. A portion of ticket sales will benefit Usher's New Look, Inc., transforming the lives of underserved youth.
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