Caesars Entertainment, Inc. - CZR STOCK NEWS

Caesars Entertainment's Harrah's Resort Atlantic City is launching Bayside ROCK Live, an outdoor entertainment series from August 28 to October 23, featuring tribute bands playing 70's and 80's music. The event, located at The Waterfront Conference Center, will offer socially-distanced seating for two at a price of $44.50 per ticket, available via Ticketmaster. In partnership with LG Business Solutions and New Jersey Lottery, this initiative aims to revive outdoor entertainment while ensuring health protocols are in place. A portion of ticket sales will support local charities.

Caesars Entertainment has launched the "Caesars For Danville" referendum campaign to develop Caesars Virginia, a proposed $400 million resort and casino in Danville, set to open in 2023. The project promises to create 900 construction and 1,300 operational jobs, generating over $34 million annually in gaming tax revenue. The resort will feature 300 hotel rooms, a state-of-the-art entertainment theater, and extensive meeting space. The referendum will be voted on November 3, 2020, with early voting beginning on September 18.

Caesars Entertainment reported significant financial challenges for the second quarter of 2020, revealing a net revenue of $126.5 million, a drastic 80.1% decline year-over-year. The company experienced a net loss of $100 million compared to a profit of $18.9 million the previous year. Adjusted EBITDA stood at negative $10.4 million, a stark contrast to $164.8 million from the same period in 2019. The merger with Eldorado Resorts was finalized in July 2020, creating the largest casino and entertainment entity in the U.S. Despite operational setbacks due to COVID-19, all properties have reopened, fostering optimism for recovery.

On July 23, 2020, Caesars Entertainment (CZR) reopened Bally's Las Vegas following state directives. This reopening follows the successful merger with Eldorado Resorts, forming the largest casino and entertainment company in the U.S. Key amenities at Bally's now open include the Blu Pool and various dining options. Enhanced health and safety protocols are in place to ensure guest safety. Management expressed excitement for the reopening and emphasized the company's commitment to service and safety during this transition.

Caesars Entertainment, Inc. has successfully completed its acquisition of Caesars Entertainment Corporation, establishing the largest casino and entertainment company in the U.S. The merger expands Caesars' portfolio to over 55 properties globally, enhancing its position in the regional and destination gaming markets. Caesars Rewards now boasts over 60 million members, offering enhanced loyalty benefits. The combined entity aims to capitalize on growth opportunities while focusing on corporate social responsibility initiatives, including diversity and inclusion programs.

Bugsy & Meyer's Steakhouse has officially opened at Flamingo Las Vegas, representing a $10 million investment that honors the resort's rich 75-year history. The restaurant features six unique dining experiences, an interactive design by renowned artists, and a menu highlighting classic steakhouse dishes with modern twists. Award-winning chef Lamar Moore leads the culinary team, enhancing the dining experience with a specialty curated art collection. The venue ensures health and safety protocols due to ongoing health concerns, opening Thursday to Monday from 5-10 p.m.

On July 3, 2020, Caesars Entertainment (CZR) reopened its Atlantic City resorts, including Caesars, Harrah's Resort, and Bally's, after over 100 days of closure due to state directives. The reopening was marked by a ribbon-cutting ceremony attended by company officials and local leaders. With enhanced health and safety protocols, the resorts now offer socially distanced gaming and outdoor dining experiences, including options from notable chefs. The company is also providing a 10% discount for first responders as a gesture of appreciation.

Caesars Entertainment Corporation (CZR) has reopened the Nobu Hotel Caesars Palace in Las Vegas as of July 2, 2020, following directives from Governor Steve Sisolak and the Nevada Gaming Control Board. This reopening is part of a broader initiative that also includes the return of various resort amenities. Enhanced health protocols are in place for staff and guests, promoting safety amidst the ongoing pandemic. Guests can utilize a 24-hour virtual concierge service to order from renowned restaurants.

On June 26, 2020, Caesars Entertainment announced the reopening of its Atlantic City resorts - Bally's, Caesars, and Harrah's Resort - on July 3, 2020, coinciding with the Fourth of July holiday. This decision follows New Jersey Governor Phil Murphy's authorization for casino operations to resume. Enhanced health and safety protocols will be implemented, ensuring social distancing and cleanliness throughout the venues. Promotions for Caesars Rewards customers include 5X Tier Credits and Comps, further incentivizing visits to these popular gaming destinations.