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.
On August 16, 2021, KISS announced their final Las Vegas residency at the Zappos Theater in Planet Hollywood Resort & Casino. The shows will take place during New Year's week, including performances on December 29, 31, and January 1, followed by additional shows from January 19 to February 5, 2022. Tickets go on sale to the public on August 20, 2021, with presales available for KISS Army members starting August 17 and Citi cardholders from August 18. Known for their iconic performances, KISS has sold over 100 million albums globally.
Caesars Entertainment (NASDAQ: CZR) has entered into a multi-year partnership with the Houston Texans, becoming the official casino partner of the NFL team. This agreement kicks off ahead of the 2021 NFL season and includes various fan engagement initiatives such as the Caesars Rewards-sponsored 'Schedule Pick 'Em' game within the Texans’ app. Caesars will leverage its loyalty program for exclusive fan experiences, such as luxury suite access. The partnership aligns with Caesars' strategy to enhance brand visibility and engagement in professional sports.
Jeff Dunham has announced four new performance dates for his show "JEFF DUNHAM: SERIOUSLY!?" at The Colosseum at Caesars Palace, Las Vegas. The shows are scheduled for September 26, October 17, November 14, and December 9, 2021. Tickets go on sale to the public on August 14 at 10 a.m. PT, while presale access starts for fan club members on August 11 and for Caesars Rewards and Live Nation customers on August 12. All shows will begin at 7:30 p.m..
Caesars Entertainment (CZR) reported significant improvements in its Q2 2021 results, with net revenues reaching $2.5 billion compared to $127 million in Q2 2020. The company achieved a net income of $71 million, a rebound from a net loss of $100 million year-over-year. Adjusted EBITDA also hit an all-time high of $1.0 billion. Key highlights included strong performance in regional markets, successful rebranding of its sports betting operations, and effective marketing strategies. The firm divested Caesars UK and reduced its debt by $325 million.
On August 2, 2021, Caesars Entertainment (NASDAQ: CZR) launched Caesars Sportsbook, a rebranded sports betting platform with a multi-million dollar marketing campaign. This new offering integrates mobile betting with the Caesars Rewards loyalty program, enhancing user experience with customized offers and flexible limits. The app, powered by the company's technology stack, is currently available in eight states, with plans for expansion. The campaign features actor-comedian JB Smoove, promoting a betting experience where every wager earns rewards, reflecting Caesars' mission to treat every player like royalty.
Lisa Vanderpump is set to open her second Las Vegas venue, Vanderpump à Paris, at Paris Las Vegas this winter. Following the success of Vanderpump Cocktail Garden at Caesars Palace, the new venue promises a whimsical ambiance with Parisian-inspired design and a menu featuring unique cocktails and delectable dishes. Vanderpump expressed excitement about the project, which aims to replicate the charm of Paris in Las Vegas. The venue will seat approximately 200 guests and showcase an eclectic mix of decor and culinary delights.
On July 26, 2021, the New Orleans Saints and Caesars Entertainment announced a 20-year exclusive naming-rights partnership, rebranding New Orleans' stadium as the Caesars Superdome. This facility will host significant events including Super Bowl LIX in February 2025 and the 2022 NCAA Men's Final Four. Caesars is investing $325 million in renovations to Harrah’s New Orleans and aims to enhance the Superdome's amenities. The partnership emphasizes Caesars' commitment to the local economy, with plans to direct proceeds back into the state-owned venue.
Caesars Entertainment has officially launched the World Series of Poker (WSOP) online platform in Pennsylvania, following approval from the Pennsylvania Gaming Control Board. The launch includes special promotions and a new bracelet series for players. Promotions include a 100% match on deposits up to $1,000 and various tournaments with low buy-ins starting from $1. WSOP aims to enhance player experience with competitive prize pools, offering a total of $75,000 guaranteed each Sunday. This expansion marks another step in WSOP's growth within the U.S. online gaming market.
Caesars Entertainment's Harrah's Resort Southern California will introduce a new HELL'S KITCHEN restaurant by Gordon Ramsay, set to open in Spring 2022. This marks the largest HELL'S KITCHEN location to date, designed to accommodate 332 guests with multiple dining areas. Construction begins this summer. The partnership aligns with the resort's focus on providing unique experiences to guests. Previous HELL'S KITCHEN locations have received acclaim, featuring signature dishes from Ramsay’s culinary repertoire. This venture supports the ongoing development strategy of Caesars Entertainment.
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