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 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.
Caesars Entertainment, Inc. (NASDAQ: CZR) will release its third quarter 2021 financial results on November 2, 2021, after market closure. A conference call will be held on the same day at 5:00 p.m. Eastern Time to discuss the results. Interested participants can join by dialing (833) 665-0647 or (914) 987-7309 for international calls, using Conference ID 4426318. The call will be accessible on the company’s Investor Relations website, with a recording available for 90 days after the event.
Walk-On's Sports Bistreaux plans to open its first West Coast location at Harrah's Las Vegas by early 2022. This venue will feature iconic Louisiana dishes like Crawfish Etouffee and Duck & Andouille Gumbo, along with a new breakfast menu. The restaurant aims to be a premier sports bar with over 60 TVs, enhancing the game day experience. This opening follows a successful year for Walk-On's, including the launch of its 50th restaurant and 21 new openings during the pandemic, supported by a growth equity investment from 10 Point Capital.
On September 29, 2021, Caesars Entertainment (NASDAQ: CZR) announced its partnership with Clairvest Neem Ventures K.K. in developing a world-class integrated resort at Wakayama Marina City, Japan. This collaboration follows Japanese law, requiring no capital commitment from Caesars. The alliance aims to enhance Japan's economic recovery post-COVID-19 through increased tourism and local economic stimulation. Caesars brings over 80 years of expertise in the casino and resort industry, which will support the development of this major global IR destination.
On September 24, 2021, Caesars Entertainment, Inc. (CZR) announced early tender results for its $1.2 billion tender offer for 5.250% Senior Notes due 2025. As of September 23, 2021, $889.3 million or 52.31% of outstanding notes were tendered. The total consideration per $1,000 of notes is $902.62, including an early tender premium of $26.68. The offer expires on October 7, 2021, unless extended. If not fully subscribed, Caesars plans a notice of redemption for remaining notes around October 15, 2021, at a redemption price of 101.313% plus accrued interest.
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