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 has appointed Rodney Williams to its Board of Directors, effective July 1, 2024, pending regulatory approvals. Williams brings a wealth of experience in luxury brand-building, strategic marketing, and corporate leadership from his tenure at Diageo and LVMH. His notable achievements include driving Guinness to become the fastest-growing on-premise brand in the U.S. and leading the growth of Hennessy’s U.S. business. Williams' expertise is expected to provide valuable insights as Caesars Entertainment integrates entertainment and culinary arts. The board's expansion to 11 members aims to enhance strategic vision and shareholder value.
Caesars Entertainment (NASDAQ: CZR) will announce its Q2 2024 financial results after the market closes on July 30, 2024. The company will hold a conference call the same day at 5:30 p.m. ET to discuss the results and other related matters. Participants can register for the call through the provided link and will receive a unique PIN for access. The call will also be available via a webcast on the Investor Relations section of Caesars Entertainment's website, and a replay will be accessible for 90 days.
Caesars Entertainment (NASDAQ: CZR) has completed the acquisition of WynnBET's Michigan iGaming operations. The deal includes a long-term extension of iGaming market access rights with the Sault Ste. Marie Tribe of Chippewa Indians. Caesars will continue using the WynnBET brand, ensuring no disruption for customers. The acquisition is expected to boost Caesars' iCasino net revenue and improve EBITDA.
In the second half of 2024, Caesars plans to launch a new online casino brand and transition WynnBET's operations to its own Michigan iGaming platform, subject to regulatory approval.
Caesars Entertainment, the largest casino-entertainment company in the U.S., has published its 2023 Corporate Social Responsibility (CSR) report. The report outlines significant progress in environmental impact, diversity, equity, and inclusion initiatives, community investment, and team member development. Key achievements include surpassing emission reduction goals three years ahead of schedule and setting a new goal of a 46.2% reduction by 2030 from a 2019 baseline. Other highlights include the expansion of the 'Caesars Makes Change' program, which donated over $1.25 million in 2023, and the launch of a leadership development tool for team members, resulting in more than 3,100 completed learning programs.
The 55th annual World Series of Poker (WSOP) has officially commenced at Paris Las Vegas and Horseshoe Las Vegas, featuring Vegas Golden Knights champion Jonathan Marchessault delivering the opening "Shuffle Up & Deal." The 2024 series started with the Champions Reunion No-Limit Hold’em Freezeout, featuring a $5,000 buy-in and special entries for players eliminating former Main Event champions. The series runs from May 28 to July 17, 2024, with the Main Event beginning on July 3 and concluding on July 17. Last year’s Main Event set a record with 10,043 entrants and a $12.1 million prize for the winner, Daniel Weinman. The WSOP, part of Caesars Entertainment, continues its tradition of awarding prestigious gold bracelets and substantial prize money, with the 2023 series having attracted 214,641 participants from 114 countries and awarding over $403 million.
Caesars Entertainment and the World Series of Poker (WSOP) have launched WSOP Online, the first poker platform to pool players from Michigan, Nevada, and New Jersey. This historic move rebrands WSOP.COM and introduces improved functionality, including mobile capabilities, new tournaments, and larger prize pools. Effective immediately, players in Nevada and New Jersey must pre-register to transition their accounts to the new platform. The launch coincides with the 55th WSOP event starting on May 28, which features 30 online bracelet events and hybrid tournaments that conclude with live final tables in Las Vegas. Promotions include a $100,000 freeroll for deposits made from May 28 to June 29.
Paris Las Vegas is set to open Dominique Ansel Marché in fall 2024, expanding its partnership with James Beard Award-winning pastry chef Dominique Ansel. Following the success of Dominique Ansel Las Vegas at Caesars Palace, the new venue will feature fresh croissants, made-to-order crêpes, seasonal tarts, cakes, ice cream, and savory items like rotisserie chicken. The 5,000 sq ft space will offer café and park bench seating for 50 guests, enhancing the Parisian market ambiance with greenery, trees, and flower stands. This opening coincides with Paris Las Vegas' 25th anniversary and its ongoing culinary evolution.
On September 7, 2023, Caesars Entertainment's loyalty program, Caesars Rewards, experienced a significant data breach.
Over 65 million members had their personal information, including names, birth dates, Social Security Numbers, and driver’s license details, compromised.
Levi & Korsinsky LLP is investigating potential compensation for affected customers.
Individuals who received a notification about the breach may be eligible for compensation.
The law firm is offering its services on a contingency basis, meaning they only get paid if the affected members are compensated.
For more information, affected members can visit the firm's website.
Caesars Entertainment has opened its first property in Nebraska, Harrah's Columbus, NE Racing & Casino. The grand opening featured a ribbon-cutting ceremony, giveaways, and the first bets at the casino. The new facility includes a 17,000-square-foot casino floor with 400 slot machines, 11 table games, and a Caesars Race & Sportsbook, which marked its debut in Nebraska. The property also houses the Brew Brothers restaurant and the Wishbones bar. A Marriott hotel is under construction nearby, scheduled to connect to the casino later this year. Additionally, the venue will feature a one-mile racetrack hosting live races from August 16 to September 15. Harrah's Columbus is part of the Caesars Rewards network, allowing guests to earn and redeem credits at over 50 properties across North America.
On September 7, 2023, Caesars Rewards, a loyalty program under Caesars Entertainment (NASDAQ: CZR), experienced a major data breach, exposing the personal information of over 65 million members. The compromised data includes names, birth dates, Social Security Numbers, and driver's license information. Levi Korsinsky, LLP is investigating potential compensation for affected customers. Members who received a breach notification may qualify for compensation. Levi & Korsinsky is a renowned consumer advocacy law firm with a successful track record in recovering funds for clients.
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