Caesars Entertainment Inc Stock Price, News & Analysis

Caesars Entertainment, Inc. (CZR) announced the pricing of a $1.2 billion offering of 4.625% Senior Notes due 2029. The size of the offering increased by $200 million, with completion expected by September 24, 2021. Proceeds will be used to manage existing debt, specifically to redeem 5.250% Senior Notes due 2025 along with associated fees. The Notes are offered to qualified institutional buyers in the U.S. and outside under Regulation S, not registered under the Securities Act.

On September 10, 2021, Caesars Entertainment (CZR) announced a cash tender offer for up to $1.2 billion of its 5.250% Senior Notes due 2025. The offer is set to expire at 12:00 a.m. on October 7, 2021, unless extended. Holders tendering by September 23, 2021, can receive an early payment of $30.00 per $1,000 of notes. The tender offer is contingent upon Caesars securing at least $1 billion in debt financing. Should the offer be under-subscribed, the company plans to redeem the remaining notes around October 15, 2021.

On September 10, 2021, Donny Osmond announced new performance dates for his solo residency at Harrah's Las Vegas through 2022. Following a successful opening with sold-out crowds, the show features Osmond's hits and personal stories in an engaging format. Produced by Mojave Ghost, the residency showcases Osmond's extensive career, including his iconic music and new songs. Upcoming shows are scheduled from September 2021 to November 2022, with tickets available now.

On September 10, 2021, Caesars Entertainment, Inc. (CZR) announced a proposed offering of $1 billion in senior notes due 2029. The offering targets qualified institutional buyers under Rule 144A and international buyers under Regulation S. The proceeds will be used to retire 5.250% Senior Notes due 2025 and cover related fees. This private placement will not be registered under the Securities Act, limiting domestic offers to exemptions.

Caesars Entertainment has officially launched sports betting in Arizona, celebrating the legalization with a kickoff event on September 9, 2021. Attendees, including Governor Doug Ducey and D-backs CEO Derrick Hall, placed the first ceremonial bets for charity. The Caesars Sportsbook app is now available, offering a risk-free bet of up to $5,000 until September 30. A two-story sportsbook and sports bar is set to open at Chase Field in early 2022, enhancing the betting experience for fans. Caesars also partners with multiple sports leagues, boosting its presence in the gaming industry.

Caesars Entertainment (NASDAQ: CZR) has reached an agreement to sell the non-US assets of William Hill to 888 Holdings Plc for approximately £2.2 billion. Following debt repayment and adjustments, Caesars anticipates net proceeds of around £835 million (approximately $1.2 billion). The deal is contingent on 888 Holdings Plc shareholder and regulatory approvals, with closure expected in Q1 2022. CEO Tom Reeg expressed gratitude to William Hill's team and confidence in the new ownership aligning with their long-term goals.

On September 8, 2021, Caesars Entertainment (CZR) announced a strategic partnership with the Baltimore Ravens, becoming the team's official sports betting partner. The five-year agreement includes naming rights at M&T Bank Stadium and a premium betting experience through Caesars Sportsbook. Fans will have access to various events, including annual signature events and digital content during the NFL Draft. This partnership aims to enhance fan engagement and expand the entertainment district around Horseshoe Baltimore, further solidifying Caesars' position in the sports betting market.

Genius Sports (NYSE:GENI) has entered a strategic partnership with Caesars Entertainment (NASDAQ:CZR), granting Caesars access to Genius' extensive portfolio of official sports data feeds. This agreement enhances Caesars’ sportsbook with essential data for betting on NFL, NASCAR, and other global sports. As part of the deal, Genius will also provide marketing technology to enhance customer engagement and acquisition. Both companies aim to elevate the betting experience and capitalize on the growing sports betting market in the U.S., improving their brand offerings and monetization opportunities.

VICI Properties Inc. has entered a triple-net lease agreement with EBCI Holdings in relation to the acquisition of Caesars Southern Indiana. The lease stipulates an initial total annual rent of $32.5 million for a term of 15 years, with annual rent escalations starting at 1.5%. This agreement reduces annual base rent payments under VICI's master lease with Caesars by $32.5 million. Additionally, VICI has a right of first refusal on real property related to a new casino resort in Danville, Virginia.