Caesars Entertainment Inc Stock Price, News & Analysis

Caesars Palace in Las Vegas is set to undergo a multimillion-dollar renovation of its original main entrance, main casino, and porte-cochère. Construction will begin in July 2021, with completion anticipated by New Year's Eve. The redesign will enhance the entrance experience, featuring a new dome and a 15-foot statue of Augustus Caesar, alongside two new gaming pits and a lobby bar. Temporary changes during construction include valet adjustments and the relocation of rideshare services. This renovation marks a significant investment to continue the property's legacy of grandeur.

Caesars Entertainment (NASDAQ: CZR) has partnered with Columbus Exposition and Racing (CER) to develop a Harrah's casino and racetrack in Columbus, Nebraska. This $75 million project will feature a new one-mile horse racing surface, a 40,000-square-foot casino, over 400 slot machines, and 20 table games, expected to open by late 2022. The partnership aims to create a new entertainment destination, boosting the local economy and supporting the horse racing industry in Nebraska. Caesars' experience in gaming is positioned to transform the area's racing tradition.

Caesars Entertainment, Inc. (NASDAQ: CZR) will announce its second quarter 2021 financial results on August 3, 2021, after market close. A conference call is scheduled for the same day at 5:00 p.m. Eastern Time to discuss the results. Participants can join by calling (833) 665-0647 or (914) 987-7309 for international access, using Conference ID 2469744. The call will be available for replay on the Investor Relations section of the company's website for 90 days following the event.

The Indiana Gaming Commission has amended its order, allowing Caesars Entertainment (NASDAQ: CZR) to retain ownership of Horseshoe Hammond and other properties in Indiana. This decision follows Caesars’ recent sale of Tropicana Evansville and the anticipated sale of Caesars Southern Indiana by Q3 2021. CEO Tom Reeg expressed confidence that maintaining Horseshoe Hammond is beneficial for employees, customers, and the local community, indicating a strong future for the property.

Caesars Entertainment, Inc. (NASDAQ: CZR) announced the mandatory conversion of its 5.00% convertible senior notes due 2024, totaling approximately $321.89 million. The conversion will occur on June 24, 2021, with each note converted into 0.013889365 shares of common stock and $1.166196 in cash. Interest will cease on the conversion date, with payments scheduled for June 29, 2021. This action reflects Caesars' strategic move to manage its debt obligations as it continues to expand its casino-entertainment business.

The World Series of Poker (WSOP) has announced its 2021 daily event schedule, starting September 30 and concluding November 23. Notable events include the $10,000 No-Limit Hold'em World Championship with four starting flights from November 4-7. The tournament returns to the Rio All-Suite Hotel in Las Vegas. This year's WSOP expects robust participation following a 26-month hiatus, with 2019 setting records of 187,298 entries and $293 million in prizes. New broadcasting partnerships will enhance visibility, offering 15 hours of Main Event coverage.

GRAMMY nominated band OneRepublic will perform at Zappos Theater in Planet Hollywood Resort & Casino this Labor Day Weekend, with shows on September 4 and September 5. This marks the venue's first performances of the year. An artist presale starts on June 15, followed by a presale for select customers from June 16 to June 17. General public tickets go on sale June 18, starting at $45. The band has achieved over 5B streams on Spotify and is promoting their upcoming album, Human.