Caesars Entertainment Inc Stock Price, News & Analysis

Caesars Entertainment (NASDAQ: CZR) announced a definitive agreement to sell the Belle of Baton Rouge to CQ Holding Company (Casino Queen). The sale will result in the removal of Baton Rouge from the Gaming and Leisure Properties (GLPI) Master Lease, while the rent payments to GLPI remain unchanged. The transaction, expected to close in mid-2021, is subject to regulatory approvals. CEO Tom Reeg thanked the Baton Rouge team for their dedication during the COVID-19 pandemic.

Donny Osmond is set to return to Las Vegas with his first-ever solo multi-year residency at Harrah's Showroom, starting August 31, 2021. The residency will showcase his timeless hits, personal stories, and new music, marking a highly anticipated comeback after a record-breaking 11-year run at Flamingo Las Vegas. Tickets go on sale to the public on November 24, 2020, with prices starting at $65. The addition of Osmond is expected to enhance Harrah's reputation as a leading center-Strip property.

On November 19, 2020, Caesars Entertainment, Inc. (CZR) announced the successful approval of its recommended cash offer for William Hill PLC, with over 86% of shareholders voting in favor. The acquisition, valued at 272p per share, is anticipated to close by March 2021, pending regulatory approvals. Caesars aims to integrate William Hill into its sports betting and iGaming operations, enhancing its market position. CEO Tom Reeg expressed confidence in the transaction's strategic importance as both companies work toward completing the deal amidst existing regulatory conditions.

Caesars Entertainment announced the return of the 2020 World Series of Poker (WSOP) Main Event, featuring a hybrid online and live format due to COVID-19 precautions. The event begins for international players on Nov. 29 and for U.S. players on Dec. 13. Each segment includes independent prize funds, with a $1 million heads-up championship match between domestic and international winners on Dec. 30. Special safety measures will be in place, and the tournament aims to deliver a prestigious gaming experience amid health challenges.

Caesars Entertainment (NASDAQ: CZR) announced the reopening of the Rio All-Suite Hotel & Casino on December 22. This marks the final property reopening in the U.S. and Canada following the COVID-19 pandemic. The hotel will offer weekend accommodations and a gaming floor open daily. Amenities include various restaurants, bars, gaming options, and a new William Hill Sports Book. To celebrate, guests can save up to 20% on stays booked during the Fall Savings Sale.
Enhanced health protocols will be implemented to ensure safety for guests and staff.

Caesars Entertainment (NASDAQ: CZR) released its 2019-2020 PEOPLE PLANET PLAY Report on Corporate Social Responsibility, emphasizing its commitment to societal contributions post-merger with Eldorado Resorts. The report highlights growth in diversity, equity, and inclusion, with 45% women and 35% racial diversity in management roles. In 2019, Caesars contributed $67 million to community efforts and launched extensive renovations to enhance guest experiences. The creation of a new CSR Committee is set to drive future strategies, reinforcing its role as a responsible corporate citizen.

Caesars Entertainment, Inc. (CZR) reported a significant third-quarter net revenue of $1.4 billion, marking a 52% increase on a GAAP basis but a 34% decrease year-over-year on a same-store basis. The company faced a net loss of $926 million, down from a net income of $37 million last year. Following a merger with Eldorado Resorts, the firm raised $1.9 billion in equity, entered a multi-year sports betting partnership with ESPN, and announced plans to acquire William Hill plc. The sale of Tropicana Evansville for $480 million is set to close in mid-2021, pending regulatory approval.

On October 29, 2020, Caesars Entertainment announced the reopening of The Cromwell, the last property on the Las Vegas Strip to resume operations. This boutique hotel is the first adults-only casino in the area. The Cromwell features amenities including the award-winning restaurant GIADA, a variety of gaming options, and enhanced health protocols. The reopening follows the successful launch of other Caesars properties, with an emphasis on safety measures such as frequent sanitation and mask requirements. Special promotions are available for guests until November 2.