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.
News and press releases for Caesars Entertainment, Inc. (NASDAQ: CZR) highlight the company’s activities as a major casino-entertainment operator with a significant digital presence. Investors and followers of CZR can use this page to review company-issued updates on financial performance, property developments, digital product launches and corporate governance events.
Recent news includes quarterly earnings announcements, where Caesars reports net revenues, segment results for its Las Vegas, regional, Caesars Digital and managed and branded operations, and non-GAAP measures such as Adjusted EBITDA. These releases often feature commentary from senior leadership on trends across its resort portfolio and digital platforms.
Caesars also issues news about the expansion of its Caesars Sportsbook and online casino offerings. Examples include the launch of mobile and in-person sports wagering in Missouri, the opening of new Caesars Sportsbook locations at properties like Harrah’s Kansas City, Horseshoe St. Louis and Monmouth Park in New Jersey, and partnerships to bring a Caesars Sportsbook to Rampart Casino in the Summerlin area, subject to regulatory approval. Other announcements describe enhancements to the Caesars Palace Online Casino app, such as the Caesars Rewards Shop feature for redeeming Reward Credits.
Entertainment and hospitality updates are another recurring theme. Releases cover developments at Caesars Palace in Las Vegas, including recognition for Restaurant Guy Savoy and new residencies at The Colosseum, such as Cyndi Lauper: Live in Las Vegas. Corporate governance items, like a board member’s planned retirement, are reported through both SEC filings and associated press statements.
By reviewing this news feed, readers can follow how Caesars Entertainment presents its strategy across resort operations, digital gaming, loyalty integration and responsible gaming initiatives, as well as track notable property-level and brand-level milestones.
Caesars Sportsbook has entered a groundbreaking partnership with the Manning family, including Archie, Peyton, Eli, and Cooper Manning, to enhance its brand presence across the U.S. This unique collaboration marks the first of its kind between a sports betting company and a prominent sports family. The Mannings will serve as ambassadors, promoting responsible gaming and engaging with bettors through various initiatives. Caesars Sportsbook is operational in 20 states and offers extensive mobile betting options. This partnership also supports the Mannings' charitable efforts, highlighting their community involvement.
Caesars Entertainment (NASDAQ: CZR) has been recommended by the New York State Gaming Commission for a Mobile Sports Wagering License, paving the way for Caesars Sportsbook to launch in New York. CEO Tom Reeg highlighted the state's potential as the largest mobile sports betting market in the U.S. With over 19 million residents, Caesars plans to leverage its existing presence and established partnerships with various sports leagues to enhance customer experience. Currently operational in 20 states, Caesars Sportsbook aims to offer a comprehensive mobile betting experience and integrate its loyalty program for users.
Caesars Entertainment (CZR) reported strong Q3 2021 results, with net revenues reaching $2.7 billion, up from $1.4 billion year-over-year. The net loss narrowed to $233 million from $926 million in Q3 2020. Adjusted EBITDA increased to $882 million compared to $433 million last year. The Las Vegas segment achieved an all-time EBITDA quarterly record, while regional operations also showed significant growth. The company announced Sandra Douglass Morgan's appointment to the Board, effective November 7, 2021.
Caesars Entertainment and VICI Properties announced the completion of the sale of Harrah's Louisiana Downs Casino for $22 million. The proceeds were allocated with $5.5 million going to VICI and $16.5 million to Caesars, subject to standard cash adjustments. Despite the transaction, the annual base rent payments under the Regional Master Lease remain unchanged, indicating stability in their financial relationship going forward.
Caesars Entertainment (CZR) and VICI Properties (VICI) have finalized the sale of Harrah's Louisiana Downs to Rubico Acquisition Corp. for $22 million. The split of proceeds allocated $5.5 million to VICI and $16.5 million to Caesars, subject to customary adjustments. Importantly, the annual base rent payments under the Regional Master Lease between the two companies will remain unchanged. This transaction reflects Caesars’ ongoing strategy to optimize its asset portfolio while maintaining stable earnings from its lease agreements.
Sting has launched his residency, "My Songs," at The Colosseum at Caesars Palace in Las Vegas, featuring hits from his illustrious career, including "Roxanne" and "Every Breath You Take." Produced by the Cherrytree Music Company, Live Nation, and Caesars Entertainment, the residency runs through November 13, 2021, and will resume in June 2022. Tickets are currently available, including VIP packages that offer unique experiences. Sting's new album, The Bridge, will be released on November 19, showcasing his diverse songwriting talents amidst the pandemic's challenges.
On October 31, 2021, Caesars Entertainment (NASDAQ: CZR) launched in-person sports betting at Harrah's New Orleans and Horseshoe Bossier City, marking a historic milestone for the Louisiana market. The first bets were placed during simultaneous events, including a ceremonial bet by former NFL player Bobby Hebert. The company anticipates the launch of mobile betting once it receives regulatory approval. Caesars is committed to enhancing customer experience through its sports betting offerings and plans for new retail sportsbooks and extensive renovations at existing locations.
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On October 22, 2021, Caesars Entertainment announced the launch of its Caesars Sportsbook app in Louisiana, coinciding with the state's legalized mobile sports betting. Eligible fans can download the app to access various betting options and promotions. Early registrants will receive a $100 Free Bet bonus and additional bonuses based on local team scores during launch week. Caesars also plans to offer in-person betting at Harrah's New Orleans and Horseshoe Bossier City. This launch aligns with Caesars' commitment to Louisiana, highlighted by a naming partnership with the New Orleans Saints.
Caesars Entertainment, Inc. (NASDAQ: CZR) announced the appointment of Sandra Douglass Morgan to its Board of Directors, effective November 7, 2021, pending regulatory approvals. Morgan, previously chairwoman of the Nevada Gaming Control Board, is the first African American to hold this position. Her extensive experience includes implementing key regulatory changes in the gaming industry. The addition of Morgan aims to enhance the board's expertise and perspective as the gaming landscape evolves. Following her appointment, the board will expand to 10 members.