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) is celebrating 35 years of its pioneering Responsible Gaming program during Responsible Gaming Education Month this September. As the first commercial casino company to address problem gambling, Caesars has implemented numerous initiatives since 1989, including:
- Project 21 (1989): Educating Team Members about deterring underage gambling
- First national helpline (1995): Partnering with AT&T and the National Council on Problem Gambling
- Nationwide self-exclusion program (1999): Allowing guests to request denial of play privileges
- First mass media awareness campaign (2002): Introducing television campaigns focused on Responsible Gaming
- Responsible Gaming Ambassador program: Training over 1,800 Ambassadors to assist guests
- Universal exclusion policy (2023): Implementing the industry's most expansive self-exclusion program
Caesars aims to ensure that gambling at its properties and through online products is purely for entertainment purposes.
Shania Twain has announced the final shows for her Las Vegas residency, Shania Twain: COME ON OVER – The Las Vegas Residency, at PH Live at Planet Hollywood Resort & Casino. The nine final shows will take place in January and February 2025, concluding over Super Bowl weekend. Tickets for these performances go on sale Saturday, Sept. 7 at 10 a.m. PT.
The residency, which opened in May 2024, celebrates the 25th anniversary of Twain's album 'Come On Over'. The show features hits from this album and her entire catalog. $1 from every ticket sold will be donated to the Shania Twain Foundation, supporting at-risk children and families.
Rod Stewart is set to return to The Colosseum at Caesars Palace in 2025 with 'The Encore Shows'. This comes after his successful 13-year residency 'Rod Stewart: The Hits.' which featured 200 performances. The new shows will include his biggest hits, surprises from his songbook, and new production elements.
Presale tickets will be available from August 8, with general public sales starting on August 12. The concerts are scheduled for March 12-22 and May 29-June 8, 2025. Stewart, a two-time Rock & Roll Hall of Fame inductee, has sold over 250 million records worldwide and is known for his distinctive voice and style across various music genres.
The Nevada Supreme Court has denied Caesars Entertainment's request for a rehearing in a case involving Tipping Point Gaming (TPG). TPG, founded by Sam Johnson, had partnered with Caesars to bring innovative gaming technology to market. However, Caesars allegedly interfered with TPG's deals and delayed their product development, resulting in a lawsuit. Caesars sought to limit TPG's counterclaims, but the Nevada Supreme Court ruled in favor of a new trial. TPG aims to seek substantial damages for bad faith, fraud, and tortious interference.
Caesars Entertainment (NASDAQ: CZR) has agreed to sell the World Series of Poker® (WSOP) brand to NSUS Group for US$500 million. The deal includes $250 million in cash and a $250 million promissory note due in five years. Caesars retains the right to host the flagship WSOP summer series in Las Vegas for 20 years and will continue to use WSOP branding in its brick-and-mortar poker rooms. Caesars Digital will maintain its WSOP Online real-money poker business in select states. The transaction is expected to close by the end of 2024, subject to regulatory approvals.
NSUS Group, known for operating GGPoker, plans to expand WSOP globally and enhance the player experience using GGPoker's technology. This strategic move aims to position WSOP at the forefront of poker's growth worldwide.
Caesars Entertainment (NASDAQ: CZR) has announced a $3.1 million donation to various non-profit organizations through its Caesars Foundation. The company also raised an additional $1 million for Boys & Girls Clubs of America through its Caesars Makes Change program, which allows casino guests to donate a portion of their slot ticket payouts.
Key highlights include:
- A new partnership with the Arbor Day Foundation for environmental sustainability
- $827,110 of the $1 million raised goes directly to Boys & Girls Clubs of America's national program
- Caesars Makes Change program is now available in over 40 destinations
- Caesars is an official back-to-school partner of Boys & Girls Clubs of America
The company continues to demonstrate its commitment to corporate social responsibility and community support through these initiatives.
Caesars Entertainment, Inc. (NASDAQ: CZR) reported its Q2 2024 results with GAAP net revenues of $2.8 billion, down slightly from $2.9 billion in the prior year. The company posted a GAAP net loss of $122 million, compared to a net income of $920 million in Q2 2023. Same-store Adjusted EBITDA remained stable at $1.0 billion. Caesars Digital segment showed improvement with Adjusted EBITDA of $40 million, up from $11 million last year.
Key highlights include:
- Record same-store revenues, hotel occupancy, and ADR in Las Vegas segment
- Caesars Digital segment achieved a new Q2 Adjusted EBITDA record
- Regional segment faced competition in new markets
- Continued debt reduction with Term Loan B repayments over $100 million
- Full-year 2024 capital expenditures forecast at $800 million, excluding Danville project
Caesars Entertainment (NASDAQ: CZR) has been awarded the Corporate Social Responsibility Award by the National Council on Problem Gambling for its commitment to Responsible Gaming. The company implemented industry-leading policies in 2023, including a Universal Exclusion program and a 21+ Gaming policy.
Key initiatives include:
- Expanding self-exclusion across all Caesars gaming platforms
- Preventing under-21s from using Caesars Rewards® and accessing gaming products
- Providing Responsible Gaming training to all team members
- Deploying over 1,800 Responsible Gaming Ambassadors
- Establishing a Responsible Gaming Council of senior leaders
Caesars aims to ensure all visitors gamble responsibly and for entertainment purposes only.
Buddy 'Cake Boss' Valastro celebrated the grand opening of Buddy's Boardwalk Empire at Harrah's Resort Atlantic City. The new dining concept offers Jersey-style sandwiches, pizzas, pasta, and Valastro's iconic desserts from Carlo's Bake Shop. Opening day featured a ribbon-cutting ceremony, meet-and-greet with Valastro and his family, and exclusive merchandise.
Gregg Klein, Senior VP and GM of Harrah's Resort, expressed excitement about the new addition to their dining lineup. Valastro, a Jersey native, aims to bring the Boardwalk experience to Harrah's with fresh ingredients and signature dishes. The restaurant enhances Harrah's Resort's culinary offerings and solidifies its position as a premier dining destination in Atlantic City.
Buddy Valastro, known for his hit TLC series 'Cake Boss' and multiple bestselling books, continues to expand his culinary empire with various restaurant concepts across the United States.
Caesars Entertainment (NASDAQ: CZR) has expanded its mobile sports betting platform, Caesars Sportsbook, across Washington, D.C. The app is now available district-wide for users 21 and older, except on federal lands and areas near other professional sports venues. This expansion builds on Caesars' presence at Capital One Arena, where it opened the first sportsbook in a U.S. professional sports venue in 2021.
The Caesars Sportsbook app offers thousands of betting markets, live streaming of marquee sporting events, and integration with the Caesars Rewards loyalty program. New users can take advantage of a sign-up offer to get their first bet back up to $1,000 if it loses. Caesars emphasizes responsible gaming, implementing a 21+ policy for all domestic gaming operations.
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