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 (NASDAQ: CZR) has entered a multi-year partnership with the Washington Capitals, marking a historic first for NHL jersey advertising. Beginning with the 2022-23 season, the Caesars Sportsbook logo will feature on the Capitals' home and third jerseys. The agreement also enhances their collaboration with casino and gaming elements and includes a VIP hospitality space at Capital One Arena. This partnership follows the launch of the Caesars Sportsbook at the arena in May 2021, establishing a novel engagement model for sports fans.
Caesars Entertainment and Nobu Hospitality have expanded their partnership with four new projects, including Nobu Hotels and restaurants in New Orleans and Atlantic City, and a Nobu restaurant at Paris Las Vegas. The first Nobu Hotel opened in 2013 at Caesars Palace, and the latest expansions reflect a continued investment in hospitality. Upcoming developments include a $400 million investment in Atlantic City and a multimillion-dollar refresh of Nobu Hotel Caesars Palace, aimed at enhancing guest experiences.
Caesars Entertainment (NASDAQ: CZR) has officially partnered with LSU Athletics, making Caesars Sportsbook the exclusive gaming partner of the university's athletics department. This multi-year agreement aims to enhance alumni and fan engagement while promoting responsible sports gaming. The partnership includes marketing assets such as signage at various LSU venues and access for Caesars Sportsbook customers to athletic events. Caesars is also committed to responsible gaming education and has established a scholarship fund for Louisiana residents pursuing sports-related majors.
The Indianapolis Colts and Caesars Entertainment (NASDAQ: CZR) have strengthened their partnership, designating Caesars Sportsbook as a premier sports betting partner and the exclusive casino partner of the Colts. This multi-year agreement enhances existing collaborations with local casinos, introducing new features like Caesars South Gate at Lucas Oil Stadium and a Caesars Sportsbook Lounge. Fans can engage with a free-to-play game on the Colts mobile app, with prizes including trips to Las Vegas. Caesars aims to innovate sports experiences for fans both in-person and via mobile platforms.
Caesars Entertainment announced today plans for Caesars Virginia, a $500 million resort set to break ground in Danville by December 2021. This project will feature 500 hotel rooms, a casino with over 1,400 slot machines, a Caesars Sportsbook, and a World Series of Poker Room. Expected to create 1,300 operational jobs and 900 construction jobs, the resort aims to be a significant economic driver for the region, enhancing tourism and local business partnerships. Its anticipated opening is scheduled for late 2023.
Caesars Entertainment, Inc. (CZR) announced the pricing of a $1.2 billion offering of 4.625% Senior Notes due 2029. The size of the offering increased by $200 million, with completion expected by September 24, 2021. Proceeds will be used to manage existing debt, specifically to redeem 5.250% Senior Notes due 2025 along with associated fees. The Notes are offered to qualified institutional buyers in the U.S. and outside under Regulation S, not registered under the Securities Act.
On September 10, 2021, Caesars Entertainment (CZR) announced a cash tender offer for up to $1.2 billion of its 5.250% Senior Notes due 2025. The offer is set to expire at 12:00 a.m. on October 7, 2021, unless extended. Holders tendering by September 23, 2021, can receive an early payment of $30.00 per $1,000 of notes. The tender offer is contingent upon Caesars securing at least $1 billion in debt financing. Should the offer be under-subscribed, the company plans to redeem the remaining notes around October 15, 2021.
On September 10, 2021, Donny Osmond announced new performance dates for his solo residency at Harrah's Las Vegas through 2022. Following a successful opening with sold-out crowds, the show features Osmond's hits and personal stories in an engaging format. Produced by Mojave Ghost, the residency showcases Osmond's extensive career, including his iconic music and new songs. Upcoming shows are scheduled from September 2021 to November 2022, with tickets available now.
On September 10, 2021, Caesars Entertainment, Inc. (CZR) announced a proposed offering of $1 billion in senior notes due 2029. The offering targets qualified institutional buyers under Rule 144A and international buyers under Regulation S. The proceeds will be used to retire 5.250% Senior Notes due 2025 and cover related fees. This private placement will not be registered under the Securities Act, limiting domestic offers to exemptions.
Caesars Entertainment has officially launched sports betting in Arizona, celebrating the legalization with a kickoff event on September 9, 2021. Attendees, including Governor Doug Ducey and D-backs CEO Derrick Hall, placed the first ceremonial bets for charity. The Caesars Sportsbook app is now available, offering a risk-free bet of up to $5,000 until September 30. A two-story sportsbook and sports bar is set to open at Chase Field in early 2022, enhancing the betting experience for fans. Caesars also partners with multiple sports leagues, boosting its presence in the gaming industry.
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