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 announced the return of the 2020 World Series of Poker (WSOP) Main Event, featuring a hybrid online and live format due to COVID-19 precautions. The event begins for international players on Nov. 29 and for U.S. players on Dec. 13. Each segment includes independent prize funds, with a $1 million heads-up championship match between domestic and international winners on Dec. 30. Special safety measures will be in place, and the tournament aims to deliver a prestigious gaming experience amid health challenges.
Caesars Entertainment (NASDAQ: CZR) announced the reopening of the Rio All-Suite Hotel & Casino on December 22. This marks the final property reopening in the U.S. and Canada following the COVID-19 pandemic. The hotel will offer weekend accommodations and a gaming floor open daily. Amenities include various restaurants, bars, gaming options, and a new William Hill Sports Book. To celebrate, guests can save up to 20% on stays booked during the Fall Savings Sale.
Enhanced health protocols will be implemented to ensure safety for guests and staff.
Caesars Entertainment (NASDAQ: CZR) released its 2019-2020 PEOPLE PLANET PLAY Report on Corporate Social Responsibility, emphasizing its commitment to societal contributions post-merger with Eldorado Resorts. The report highlights growth in diversity, equity, and inclusion, with 45% women and 35% racial diversity in management roles. In 2019, Caesars contributed $67 million to community efforts and launched extensive renovations to enhance guest experiences. The creation of a new CSR Committee is set to drive future strategies, reinforcing its role as a responsible corporate citizen.
Caesars Entertainment, Inc. (CZR) reported a significant third-quarter net revenue of $1.4 billion, marking a 52% increase on a GAAP basis but a 34% decrease year-over-year on a same-store basis. The company faced a net loss of $926 million, down from a net income of $37 million last year. Following a merger with Eldorado Resorts, the firm raised $1.9 billion in equity, entered a multi-year sports betting partnership with ESPN, and announced plans to acquire William Hill plc. The sale of Tropicana Evansville for $480 million is set to close in mid-2021, pending regulatory approval.
On October 29, 2020, Caesars Entertainment announced the reopening of The Cromwell, the last property on the Las Vegas Strip to resume operations. This boutique hotel is the first adults-only casino in the area. The Cromwell features amenities including the award-winning restaurant GIADA, a variety of gaming options, and enhanced health protocols. The reopening follows the successful launch of other Caesars properties, with an emphasis on safety measures such as frequent sanitation and mask requirements. Special promotions are available for guests until November 2.
Caesars Entertainment, Inc. (NASDAQ: CZR) has announced a definitive agreement to sell Tropicana Evansville for $480 million in cash to Gaming and Leisure Properties and Twin River Worldwide Holdings, with the transaction expected to close by mid-2021, pending regulatory approvals. This sale also involves incorporating the real estate of Isle Casino Hotel Waterloo and Isle Casino Hotel Bettendorf into an existing lease with Gaming and Leisure Properties. CEO Tom Reeg expressed gratitude to the Evansville team for their dedication during the COVID-19 pandemic.
Caesars Entertainment (CZR) has partnered with the Indianapolis Colts as their first NFL team sponsor, in collaboration with William Hill US. This deal focuses on enhancing fan engagement throughout the 2020 football season in Indiana. Part of the initiative includes a free-to-play "Pick 6 Predictor" game on the Colts Mobile App, where fans can win prizes. Pending regulatory approval, Caesars' mobile sports betting app will also integrate with the Colts' marketing efforts, providing exclusive offers to fans.
Caesars Palace in Las Vegas announces the introduction of a new restaurant, Amalfi by Bobby Flay, set to open in late spring 2021. The restaurant will replace the long-standing Mesa Grill, which has operated for 16 years. Amalfi will feature an Italian menu inspired by Flay's travels to Italy, emphasizing seafood and fresh ingredients. Highlights include a seafood display, house-made pastas, and a variety of antipasti. Reservations are recommended as Mesa Grill concludes its final days of service on November 14, 2020.
Caesars Entertainment announced the reopening of The Cromwell, the first adults-only resort on the Las Vegas Strip, on October 29, 2020. This boutique hotel will operate seven days a week for guests aged 21 and over, although the award-winning restaurant GIADA will welcome all ages. The opening adds to Caesars' existing Las Vegas venues and emphasizes a focus on elevated hospitality and enhanced health protocols in light of COVID-19. Guests can enjoy various amenities, including gaming options and dining experiences, with special promotions running through November.
Caesars Entertainment (NASDAQ: CZR) announced the return of live entertainment on the Las Vegas Strip, implementing enhanced health protocols. The shows set to resume include X Country (starting Oct. 22), ABSINTHE (Oct. 28), Piff the Magic Dragon (Oct. 29), and Tape Face (Nov. 11). Health measures involve verbal screenings, temperature checks, modified seating, and mandatory masks. This initiative marks a significant step in revitalizing the Las Vegas experience while prioritizing guest safety. Tickets range from $47.94 to $149, available online or via phone.
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