Caesars Entertainment Inc Stock Price, News & Analysis

Penn & Teller will return to the Rio All-Suite Hotel & Casino on April 22, 2021, featuring new content along with fan favorites. The duo expressed excitement about performing again after more than a year, emphasizing safety measures for audiences, including mandatory masks and social distancing. The show will have a capacity of 257 and will offer tickets starting at $60. Public sales begin on April 2, while Caesars Rewards members can access a presale on April 1. This marks a significant step towards revitalizing live entertainment in Las Vegas.

Caesars Entertainment, Inc. (CZR) reported a significant increase in net revenues, reaching $1.5 billion in Q4 2020, up 152.9% year-over-year, while full-year revenues totaled $3.5 billion, a 37.4% rise. However, the company faced a net loss of $555 million for the fourth quarter, contrasting sharply with a net loss of $13 million in the same period last year. Adjusted EBITDA rose 91% to $296 million in Q4. Same-store revenues dropped 37.5% in Q4 compared to the previous year, highlighting the ongoing effects of COVID-19 restrictions. The company remains optimistic about recovery as restrictions ease.

Caesars Palace in Las Vegas will unveil the new Stadia Bar in spring 2021, enhancing the sports viewing experience. This 120-seat venue features high-end amenities, many HD TVs, and a curated cocktail menu with rare spirits. Designed by Rockwell Group, Stadia Bar offers unique seating options, including five VIP domes designed like football helmets. The bar will replace Slice Bar and is committed to maintaining health and safety protocols for guests and staff.

On January 25, 2021, Caesars Entertainment (NASDAQ: CZR) announced a strategic investment in SuperDraft, Inc., a daily fantasy sports platform. This investment enhances Caesars' mobile sports offerings and aims to attract and retain customers. Caesars will acquire an initial minority equity position with options to increase this stake. SuperDraft's unique Multiplier Mode game appeals to a broader audience and will join Caesars' suite of online brands. The partnership will kick off with a $1 million tournament on February 7, 2021, showcasing SuperDraft's potential in the competitive daily fantasy sports market.

Caesars Entertainment (NASDAQ: CZR) will release its financial results for Q4 and full-year 2020 after market close on February 25, 2021. A conference call is scheduled for the same date at 5:00 p.m. Eastern Time, where the company will discuss its results and pertinent matters. Participants can join by calling (833) 665-0647 or (914) 987-7309 for international callers, using Conference ID 5039038. The call will also be available on the Investor Relations section of Caesars' website for 90 days post-event.

Caesars Entertainment's Silver Legacy Resort Casino in Reno is embarking on a $47 million renovation of its resort rooms and suites, set to complete by June 2021. This follows a previous investment exceeding $100 million on a master renovation project completed in mid-2019. The current undertaking will revamp 1,199 rooms across the hotel's fifth to 25th floors, enhancing guest experiences with modern designs and luxury amenities. Collaborating with local and St. Louis-based design firms, the project aims to provide guests with sophisticated accommodations while maintaining the resort's vibrant atmosphere.

The year 2020 marked significant progress for online gaming legalization in the United States, with numerous states adding online casino betting following the November elections. President-Elect Joe Biden's support for the industry is expected to further drive momentum in 2021. Key players like Bragg Gaming Group, Wynn Resorts (NASDAQ:WYNN), MGM Resorts International (NYSE:MGM), Flutter Entertainment, and Caesars Entertainment (NASDAQ:CZR) are expanding their operations to seize new opportunities. Bragg has formed partnerships to enhance its market reach, while Wynn and MGM have launched online betting platforms, indicating a robust growth trajectory.

Caesars Entertainment, Inc. (NASDAQ: CZR) has announced the early termination of the waiting period under the HSR Act for its proposed combination with William Hill PLC, effective December 28, 2020. The acquisition received approvals from the Mississippi Gaming Commission and the West Virginia Lottery, with ongoing efforts to secure additional regulatory approvals. Caesars aims to complete the transaction by March 2021, pending approvals from various gaming commissions and the English High Court.