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, Inc. (NASDAQ: CZR) has launched its mobile sports wagering app, Caesars Sportsbook, throughout Illinois as of March 9, 2022. This app enables users to register and place bets on sports remotely, marking an expansion in the state. The platform, utilizing the advanced Liberty technology, enhances user experience and integrates with the Caesars Rewards program, offering benefits for bettors. New users can enjoy a sign-up offer insuring their first bet up to $1,100. Caesars Sportsbook operates in 22 states, highlighting its significant market presence.
Caesars Entertainment has announced a multi-year partnership with the Cleveland Cavaliers, designating Caesars Sportsbook as the team's 'Official Sports Betting Partner' and Caesars as the 'Official Casino Partner.' This collaboration includes the establishment of a new sportsbook at Rocket Mortgage FieldHouse, set to open by the end of 2022, pending regulatory approvals. The venue will feature betting windows, VIP experiences, and various amenities. This partnership aims to capitalize on the launch of sports betting in Ohio, enhancing customer engagement through Caesars Rewards and leveraging the Cavaliers' brand assets.
The 53rd World Series of Poker (WSOP) will take place from May 31 to July 20, 2022, marking its inaugural event on the Las Vegas Strip at Bally's and Paris Las Vegas. With over 200,000 square feet for tournaments and 600 poker tables, the series expects record participation, especially for the $10,000 Main Event, which coincides with the July 4 holiday. The opening weekend guarantees a $5,000,000 prize pool. New features include the Million Dollar Bounty tournament and the first-ever Tournament of Champions. Enhanced facilities and extensive media coverage are also planned.
Caesars Entertainment reported strong fourth-quarter results for 2021, with GAAP net revenues of $2.6 billion compared to $1.6 billion in the previous year. The GAAP net loss improved to $434 million from $555 million. Same-store Adjusted EBITDA rose to $581 million from $348 million. For the full year, revenues hit $9.6 billion, up from $3.6 billion, and the net loss decreased to $1.0 billion from $1.8 billion. Notably, Caesars has exceeded synergy targets from its merger with Eldorado Resorts and expanded its sportsbook to 22 markets.
Paysafe (NYSE: PSFE) has expanded its payment processing and affiliate services into the Louisiana and Oregon mobile sports betting markets. The company's partnerships with major sportsbooks like Caesars Entertainment (NASDAQ: CZR) and DraftKings (NASDAQ: DKNG) are set to capitalize on a projected annual market handle of $5.1 billion in Louisiana. By leveraging its affiliate software, Paysafe aims to enhance customer acquisition and revenue growth for sportsbook operators, marking its presence in 20 states including Washington, D.C.
Caesars Entertainment (NASDAQ: CZR) announced the launch of Caesars Sportsbook in Washington state after receiving a sports wagering license from the Washington State Gambling Commission. The expansion includes partnerships with Muckleshoot Casino, Spokane Tribe Casino, and Chewelah Casino, offering various sports betting options, including self-service kiosks and live betting. This initiative allows Washington sports bettors to engage with sports betting just in time for Super Bowl LVI, enhancing Caesars' market presence in the region.
The transformation of Lumière Place Casino & Hotel into Horseshoe Saint Louis is set for completion in spring 2022, enhancing the property's appeal. This shift brings a revitalized exterior, updated casino floor, new gaming options, and a Starbucks. The design emphasizes sophistication with luxurious materials while retaining Horseshoe's gaming heritage. The new WSOP® Poker Room will feature 10 tables and host tournaments soon. The move aims to attract more guests and enhance their gaming experience, staying true to Horseshoe's legacy of high-stakes gaming.
Caesars Sportsbook is set to debut its advertising during Super Bowl LVI with a 30-second spot featuring stars like Halle Berry and the Manning family. This ad is part of their 'Caesar and Cleo' campaign, focusing on family, fun, and football. The brand will also air two additional commercials during the Puppy Bowl on February 12-13, promoting responsible gaming and animal rescue. Currently operating in 22 states, Caesars offers a leading sports betting app with over 2,000 prop bets for the Super Bowl, complemented by its Caesars Rewards program.
Caesars Sportsbook has launched its most extensive prop betting menu for Super Bowl LVI, now available in 22 states and jurisdictions. This menu allows sports fans to bet on unique outcomes, including the opening coin toss and first player to score a touchdown. Additionally, the app features a new Super Bowl LVI Squares game. The betting landscape is boosted by the legalization of sports betting in various states, with expectations for record-breaking betting activity. Caesars Sportsbook continues to innovate in prop betting, enhancing the sports betting experience for fans nationwide.
Caesars Entertainment is hosting a National Day of Hiring on February 24, 2022, aiming to showcase various career opportunities across its more than 50 properties in the U.S. This event allows potential team members to explore roles in customer service, management, and design within the gaming-entertainment sector. Attendees can benefit from affordable healthcare, a 401k with employer match, paid time off, and professional development. Caesars emphasizes a diverse range of roles and aims to enhance awareness about its employee benefits.