Caesars Entertainment Inc Stock Price, News & Analysis

Caesars Entertainment (NASDAQ: CZR) has partnered with Indianapolis Motor Speedway (IMS) to become the Official Sports Betting Partner of the Indy 500 and other IMS races in 2022. This partnership introduces the first Caesars Sportsbook Lounge at Pagoda Plaza, offering an enhanced experience for fans during May events. The collaboration includes advertising, promotions, and access to exclusive VIP experiences through the Caesars Rewards program. Additionally, Caesars plans a $39 million investment to expand Harrah's Hoosier Park facility, following a $33.7 million enhancement at Horseshoe Indianapolis.

Caesars Entertainment has partnered with the Chicago White Sox, becoming the Exclusive Casino Partner and the Official Sports Betting Partner. This collaboration enhances Caesars' brand presence in Illinois and northwest Indiana, providing fans access to official logos, digital assets, and exclusive experiences through Caesars Rewards. The partnership integrates the sportsbook into marketing strategies and offers fans promotions via the Caesars Sportsbook app. As an authorized MLB gaming operator, Caesars Sportsbook operates in 24 states, reinforcing its market leadership in sports betting.

Caesars Entertainment reported Q1 2022 results, revealing net revenues of $2.3 billion, up from $1.8 billion in Q1 2021. However, the company faced a net loss of $680 million, a decline from $423 million year-over-year. Adjusted EBITDA decreased to $296 million from $521 million. Strong performance in Las Vegas was noted, achieving record EBITDA, while regional segments also showed growth. The company aims for debt reduction through improved cash flows and asset sales.

Caesars Entertainment (CZR) has agreed to implement a majority vote standard for uncontested director elections by July 2022. This decision comes after UNITE HERE threatened to solicit proxies for a shareholder proposal on the matter. In 2019, approximately 70% of shareholders supported this change, highlighting a demand for increased shareholder influence. The reform aligns with corporate governance best practices, allowing shareholders to have a stronger voice in the election of directors.

Caesars Entertainment, in partnership with Bread Financial, has launched an upgraded Caesars Rewards Visa card program, enhancing customer loyalty by allowing members to earn both Reward Credits and Tier Credits with purchases. This new initiative offers several bonuses, including 2,500 Tier Credits upon card activation and 10,000 Reward Credits after spending $1,000 within 90 days. With over 65 million members, the Caesars Rewards program is the largest in the gaming industry, providing exclusive benefits across its destinations.

Vanderpump à Paris, a new restaurant at Paris Las Vegas, held its grand opening on April 22, 2022. Designed by Lisa Vanderpump, the venue features a Parisian-inspired ambiance with unique light fixtures and elaborate decor. Guests can enjoy crafted cocktails and a menu of reimagined Parisian classics. Vanderpump emphasized the immersive experience, aiming to evoke the essence of Paris. This marks her second Las Vegas location, enhancing the culinary offerings of the resort. The restaurant operates daily with varying hours, adding to the vibrant dining scene of Las Vegas.