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. reports developments across its casino-resort portfolio, digital wagering business and hospitality brands. The company operates and manages Caesars, Harrah’s, Tropicana, Flamingo and other gaming destinations in Las Vegas, Atlantic City and regional markets, and it connects guests through the Caesars Rewards loyalty program.
Recurring updates include quarterly operating results, Caesars Digital performance, hotel and dining offers, entertainment residencies at Caesars Palace venues, resort renovation and amenity projects, and managed-casino openings such as Harrah’s Oklahoma. News also covers capital resources and debt levels when the company releases financial results.
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Paysafe has expanded its presence in the U.S. by entering the Kansas online sports-betting market, now supporting multiple sportsbooks with deposit options and affiliate marketing services. This marks the 23rd U.S. state where Paysafe operates, with forecasts predicting Kansas will generate $1.78 billion in sports-betting revenue in its first year. Earnings from this expansion are expected to contribute positively as Paysafe strengthens partnerships with major operators like Caesars, DraftKings, and PointsBet, enhancing player acquisition and retention capabilities.
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.