Caesars Entertainment, Inc. - CZR STOCK NEWS

Caesars Entertainment, Inc. (NASDAQ: CZR) will announce its financial results for Q3 2020 on November 5, 2020, after market close. A conference call will follow at 5:00 p.m. ET to discuss the results. Participants can join by dialing 833-665-0647 or 914-987-7309 for international calls, using Conference ID 4343368. The call will be accessible on the company's Investor Relations website. A recording will be available for 90 days post-event. Caesars is a leading gaming-entertainment provider in the U.S., known for its diverse brands and commitment to excellence.

Caesars Entertainment announced the reopening of Planet Hollywood Resort & Casino on October 8, 2020, following directives from Nevada's Governor. The resort resumes daily gaming and weekend hospitality operations, joining other reopened properties like Caesars Palace and Flamingo. The launch included special events and appearances, including actor Anthony Anderson. Planet Hollywood now offers a range of amenities including dining options and a newly branded William Hill Race & Sports Book. Enhanced health protocols are in place to ensure guest safety.

Morrissey has announced his rescheduled residency, 'Viva Moz Vegas', at The Colosseum at Caesars Palace for five nights in summer 2021. Tickets are available starting at $59. This residency follows Morrissey's successful Broadway stint and showcases his extensive career, including new material from his 13th solo album, 'I Am Not A Dog on a Chain'. Performance dates are set for August 28-29 and September 2, 4-5. Morrissey's unique artistry promises an intimate experience for fans.

Harveys Lake Tahoe Hotel & Casino has completed a $41 million renovation of all 519 guest rooms in its Tahoe Tower, enhancing guest experiences with modern amenities. The project, part of a two-year investment, follows the remodeling of balcony suites in 2018. The updated rooms incorporate natural elements and offer amenities like power charging ports and flat-screen TVs. This investment reinforces Caesars Entertainment's commitment to the Lake Tahoe tourism economy, alongside the recent opening of Gordon Ramsay HELL'S KITCHEN Lake Tahoe.

Caesars Entertainment (NASDAQ: CZR) and VICI Properties (NYSE: VICI) have finalized the sale of Harrah's Reno Hotel and Casino for $41.5 million. The financial proceeds from the transaction are allocated 75% to VICI and 25% to Caesars. This sale will not affect the annual rent payments under the existing Regional Master Lease between the two companies. This move aligns with Caesars' strategy to optimize its portfolio while providing VICI with an opportunity to enhance its gaming and entertainment property holdings.

On September 30, 2020, Caesars Entertainment (CZR) announced a cash acquisition agreement to acquire William Hill for approximately £2.9 billion. This strategic move aims to position Caesars among the largest gaming and entertainment companies in the U.S. by merging its extensive land-based casinos with William Hill's sports betting expertise. The acquisition, subject to regulatory approvals, is expected to finalize in the second half of 2021, enhancing Caesars' market access and customer experience in the growing U.S. sports betting sector.

On September 29, 2020, Caesars Entertainment (NASDAQ: CZR) announced a public offering of 31 million shares at $56.00 per share, with an option for underwriters to buy an additional 4.65 million shares. The proceeds will be utilized for general corporate purposes, potentially including a cash offer for William Hill plc. Deutsche Bank Securities and J.P. Morgan serve as joint lead managers for the offering, which is part of an effective shelf registration with the SEC. This offering is critical as it reflects the company's strategic growth amidst the challenges posed by the COVID-19 pandemic.

Caesars Entertainment, Inc. (NASDAQ: CZR) has launched an underwritten public offering of 30 million shares of common stock, with an option for underwriters to purchase an additional 4.5 million shares. The proceeds from this offering will be used for general corporate purposes, including a possible cash offer for William Hill plc. The offering is managed by Deutsche Bank Securities and J.P. Morgan. This announcement follows the company's efforts to support operations amid the economic challenges posed by COVID-19.

On September 18, 2020, Caesars Entertainment (NASDAQ: CZR) announced a $400 million mortgage with VICI Properties (NYSE: VICI), secured by the CAESARS FORUM Conference Center in Las Vegas. The five-year mortgage carries an initial interest rate of 7.7% and permits prepayment starting in the third year. Concurrently, Caesars and VICI amended their existing Put-Call Right Agreement, accelerating VICI's call option to 2025. The conditionality regarding a potential land sale near The LINQ has been waived, and both parties are evaluating this land transaction.