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. reports developments across its casino-resort portfolio, digital wagering business and hospitality brands. The company operates and manages Caesars, Harrah’s, Tropicana, Flamingo and other gaming destinations in Las Vegas, Atlantic City and regional markets, and it connects guests through the Caesars Rewards loyalty program.
Recurring updates include quarterly operating results, Caesars Digital performance, hotel and dining offers, entertainment residencies at Caesars Palace venues, resort renovation and amenity projects, and managed-casino openings such as Harrah’s Oklahoma. News also covers capital resources and debt levels when the company releases financial results.
Caesars Entertainment has launched its mobile sports wagering app, Caesars Sportsbook, in Maryland, allowing users to place bets via iOS, Android, or desktop. The app offers enhanced features including live scoreboards and various betting options. Sign-up promotions for new users include a $100 bet credit for first bets between $20 and $100, or up to $1,500 in credits for larger bets. The launch is supported by a commitment to diversity, with 40% ownership interest held by women and minority partners. Caesars aims to promote responsible gaming with additional educational offerings.
Caesars Entertainment has launched Ramsay's Kitchen, created by multi-Michelin-starred chef Gordon Ramsay, at Harrah's Las Vegas. The restaurant officially opened on November 16, 2022, marking Ramsay's sixth culinary establishment in Las Vegas. The venue offers an upscale dining experience with a menu featuring signature dishes such as Beef Wellington and Jumbo Lump Crab Cakes, along with a selection of cocktails. Designed by AO, the restaurant accommodates 244 guests and is open daily from 11 a.m. to 11 p.m..
Garth Brooks has announced a new residency titled Garth Brooks/Plus ONE at the Colosseum at Caesars Palace, starting in 2023. The show promises unique performances with varying band members and occasional special guests. Tickets will be available through Ticketmaster Verified Fan, with registration open until November 17, 8 a.m. PT. A special Citi Presale is also available for cardholders. A commemorative boxed set, Garth Brooks LIVE LIVE, is available for pre-order. This residency adds to Caesars Palace's entertainment legacy, enhancing its market appeal.
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On November 10, 2022, graduate students from NYU's School of Professional Studies collaborated with Caesars Sportsbook during a New York Rangers game to discuss responsible gaming. This initiative is part of a semester-long course aimed at promoting responsible gaming awareness. Students received insights into Caesars' marketing strategies and presented their own marketing plans. VP Jeff Gonyo emphasized the importance of innovation in sports betting. Caesars is committed to responsible gaming through programs and tools that help guests gamble responsibly, reflecting a long-standing focus on this issue.
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Caesars Entertainment (CZR) reported solid third-quarter results for 2022, achieving GAAP net revenues of $2.9 billion, up from $2.7 billion in the same period last year. The company posted a net income of $52 million, a significant recovery from a net loss of $233 million reported previously. Same-store Adjusted EBITDA rose to $1.0 billion, up from $880 million. Notably, Caesars Digital showed a revenue increase of 120.8% year-over-year. The company also highlighted efforts in debt reduction, with a total debt of $13.3 billion.
Caesars Entertainment has launched its Sportsbook app in Ohio ahead of the state's legalized sports betting set for January 1, 2023. Fans can register and deposit funds now, with a special sign-up offer of a $100 bet credit for first-time users who register with promo code CZR1H by the deadline. The app features multiple deposit options, faster payouts, and various betting options. Caesars is also partnering with the Cleveland Cavaliers to open a retail sportsbook and promote responsible gaming. This expansion enhances Caesars' presence in Ohio's gaming market.
Caesars Entertainment announced the opening of the all-new Horseshoe Lake Charles in Louisiana, set for December 12, 2022, after a two-year closure due to the pandemic and Hurricane Laura. This 60,000-square-foot resort will feature nearly 1,000 gaming machines, a WSOP® Poker Room, and a Caesars Sportsbook. Notably, it will introduce Gordon Ramsay Steak, the first Louisiana restaurant by the multi-Michelin-starred chef. The opening day includes a ribbon-cutting ceremony and community celebrations, showcasing the brand's commitment to offering premier gaming and hospitality services.
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