Caesars Entertainment Inc Stock Price, News & Analysis

Caesars Entertainment, Inc. (NASDAQ: CZR) will announce its financial results for Q2 2022 on August 2, 2022, after market close. A conference call is scheduled for the same day at 5:00 p.m. EST to discuss results and company updates. Caesars Entertainment is a leading casino-entertainment provider, operating resorts under brands like Caesars, Harrah's, and Horseshoe. The company focuses on enhancing guest experience through superior service and technology within its gaming, entertainment, and hospitality offerings.

The UNITE HERE Local 54 union in Atlantic City has projected significant financial losses for Caesars Entertainment (CZR) and MGM Resorts (MGM) due to potential strikes. Caesars could face losses of $1 million daily across its three casinos, while MGM's Borgata may see losses of $1.6 million per day. This is based on a projected 25% revenue drop in Q3 2022 compared to Q3 2021. A 96% majority of union members authorized a strike, with deadlines set for July 1 and July 3, 2022. The union demands substantial wage increases amid rising industry profits and labor shortages.

Caesars Entertainment has opened the largest freestanding sportsbook in Arizona, located adjacent to Chase Field, in partnership with the Arizona Diamondbacks. The 22,300-square-foot venue features over 20 betting stations, nine betting windows, and 13 self-service kiosks. It also includes Guy Fieri's first full-service restaurant in Arizona, offering a diverse menu. The venue can accommodate more than 425 guests and is open daily, with special promotions for new users of the Caesars Sportsbook app. The opening event included a $20,000 donation to the Arizona Diamondbacks Foundation.

Sting has extended his Las Vegas residency, My Songs, at The Colosseum at Caesars Palace with six new performance dates in April 2023: April 1, 2, 5, 7, 8, and 9. Tickets go on sale to the public on June 17, with presale options available for fan club members and certain cardholders starting June 14. The residency showcases Sting's greatest hits along with new material from his latest album, The Bridge. The show has received positive reviews, confirming its popularity and significance in the Las Vegas entertainment scene.

Caesars Entertainment (NASDAQ: CZR) has announced a multiyear strategic partnership with Peyton Manning's Omaha Productions to produce a range of digital content. This collaboration will launch the Omaha Audio Network, featuring podcast series and live events tailored for Caesars' platforms. The partnership highlights responsible gaming initiatives and aims to enhance the Caesars Rewards program through unique member interactions. Caesars Sportsbook operates in 24 states and is committed to providing tools for responsible gambling.

Caesars Sportsbook, in partnership with NYRA Bets, has launched the Caesars Racebook app in Florida and Ohio, providing users with a premier horse racing experience. The app offers access to over 250 racetracks globally and features livestreaming capabilities. New users can receive a 100% deposit match up to $500. This initiative aims to enhance customer engagement in horse racing and is part of a broader strategy to expand into up to 30 states. The horse racing sector generated $12.2 billion in wagering handle in 2021, highlighting its significant market potential.

Caesars Entertainment (NASDAQ: CZR) has introduced a new educational assistance program called All-In On Education for its nearly 50,000 eligible Team Members. The initiative offers various benefits including up to $5,250 annually for tuition assistance and student loan repayment. It also features a 529 college savings plan and the Don Carano Legacy Scholarship, providing up to $20,000 for dependents. This program aims to support Team Members' educational goals, enhancing retention and community engagement.

UNITE HERE Local 54 has launched a website, ACTravelAlert.org, to inform travelers about potential labor disputes in Atlantic City as casino contract negotiations approach. With gaming profits back to pre-pandemic levels, workers are pushing for significant wage raises, with contracts for nine casinos, including Bally's (BALY) and Caesars (CZR), expiring on May 31, 2022. Union members are determined to secure better wages to cope with rising living costs, emphasizing that they have previously sacrificed pay for the industry's health.

Jane Lynch, the iconic actor and comedian, has been officially inaugurated as Funner, California's first female mayor. This marks a significant milestone as she succeeds past celebrity mayors. During her swearing-in ceremony, Lynch expressed excitement for her new role, which includes launching a zero-proof cocktail menu and new vegan offerings at Harrah's Resort Southern California. The mayor plans to promote the resort's entertainment and culinary experiences to enhance the community's appeal and embody the 'Funner state of mind.'