Caesars Entertainment Inc - CZR STOCK NEWS

Caesars Entertainment (NASDAQ: CZR) solidifies its presence in the sports betting market by becoming an Official Sports Betting Partner of the NFL starting with the 2021 season. This multi-year agreement expands their existing partnership, allowing Caesars to leverage NFL branding for both retail and online betting, while enhancing fan engagement through NFL-themed games. Caesars continues as the NFL's Official Casino Sponsor, retaining exclusive rights to use NFL trademarks, creating experiences across its 50+ properties, and committing to responsible gaming practices.

On April 7, 2021, Caesars Entertainment (NASDAQ: CZR) finalized the sale of MontBleu Resort Casino & Spa to Bally's Corporation. This divestiture fulfills a commitment made to the Federal Trade Commission during the merger with Eldorado, completed in July 2020. CEO Tom Reeg acknowledged the dedicated service of MontBleu's team, especially during the COVID-19 pandemic, wishing them success under Bally's ownership. The transaction was facilitated by Macquarie Capital and Milbank LLP.

Bally's Corporation (NYSE: BALY) has finalized the acquisition of MontBleu Resort Casino & Spa from Caesars Entertainment (NASDAQ: CZR). This strategic acquisition enhances Bally's portfolio, positioning MontBleu as a key entertainment destination near Lake Tahoe, complementing its existing properties. The resort features 418 slots, 17 tables, and 438 hotel rooms, aiming to attract loyal customers. Following the acquisition, Bally's intends to expand its market presence, which currently includes 12 casinos across eight states.

Caesars Entertainment has announced the much-anticipated return of the World Series of Poker (WSOP) in 2021, featuring the iconic $10,000 No-Limit Hold'em World Championship, known as 'The Main Event'. This in-person event will take place at the Rio All-Suite Hotel & Casino from Sept. 30 to Nov. 23. The opening weekend will include a charity event for frontline health workers and a $5 million GTD No-Limit Hold'em tournament. Additionally, WSOP plans to host an online series starting July 1, after achieving record participation and prize payouts in 2020, totaling nearly $150 million across events.

Caesars Entertainment (NASDAQ: CZR) will announce its Q1 2021 financial results after market close on May 4, 2021. A conference call to discuss these results will take place on the same day at 5:00 PM ET. Interested participants can join by calling (833) 665-0647 or (914) 987-7309 (international). The call will be accessible on the Investor Relations section of their website. A recording will be available for 90 days post-event.

Penn & Teller will return to the Rio All-Suite Hotel & Casino on April 22, 2021, featuring new content along with fan favorites. The duo expressed excitement about performing again after more than a year, emphasizing safety measures for audiences, including mandatory masks and social distancing. The show will have a capacity of 257 and will offer tickets starting at $60. Public sales begin on April 2, while Caesars Rewards members can access a presale on April 1. This marks a significant step towards revitalizing live entertainment in Las Vegas.

Caesars Entertainment, Inc. (CZR) reported a significant increase in net revenues, reaching $1.5 billion in Q4 2020, up 152.9% year-over-year, while full-year revenues totaled $3.5 billion, a 37.4% rise. However, the company faced a net loss of $555 million for the fourth quarter, contrasting sharply with a net loss of $13 million in the same period last year. Adjusted EBITDA rose 91% to $296 million in Q4. Same-store revenues dropped 37.5% in Q4 compared to the previous year, highlighting the ongoing effects of COVID-19 restrictions. The company remains optimistic about recovery as restrictions ease.

Caesars Palace in Las Vegas will unveil the new Stadia Bar in spring 2021, enhancing the sports viewing experience. This 120-seat venue features high-end amenities, many HD TVs, and a curated cocktail menu with rare spirits. Designed by Rockwell Group, Stadia Bar offers unique seating options, including five VIP domes designed like football helmets. The bar will replace Slice Bar and is committed to maintaining health and safety protocols for guests and staff.