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.
Caesars Entertainment Inc (CZR) operates a diversified portfolio of casino resorts and digital platforms across the United States. This news hub provides investors and industry observers with official press releases, financial updates, and strategic announcements from one of gaming's most established operators.
Access real-time updates on earnings reports, property expansions, and regulatory developments alongside analysis of Caesars' digital initiatives like sports betting integrations. Our curated feed includes announcements about flagship brands including Harrah's, Tropicana, and the Caesars Rewards loyalty program.
Key areas of coverage include casino operations, hospitality partnerships, technology implementations, and market expansion strategies. Bookmark this page for streamlined access to CZR's evolving position in the competitive entertainment landscape.
Caesars Entertainment (CZR) has entered a definitive agreement to sell the operations of Caesars Southern Indiana for $250 million to the Eastern Band of Cherokee Indians (EBCI). This transaction will result in a $32.5 million annual reduction in payments to VICI Properties (VICI) post-closing. Additionally, Caesars and EBCI will extend their partnership, allowing the continued use of the Caesars brand and Rewards loyalty program at the property. The deal is expected to close in Q3 2021, pending regulatory approvals.
Caesars Entertainment, Inc. (NASDAQ: CZR) has successfully closed the sale of Eldorado Resort Casino Shreveport to Bally's Corporation for $140 million in net proceeds. This divestiture fulfills a Federal Trade Commission requirement linked to the Caesars-Eldorado merger completed earlier in the year. CEO Tom Reeg expressed appreciation for the team’s contributions over the past 15 years and extended well-wishes under Bally's ownership. Macquarie Capital and Milbank LLP facilitated the transaction, highlighting Caesars' strategic approach to optimize asset allocation.
Caesars Entertainment (CZR) is distributing 20,000 frozen turkeys and cookies to Las Vegas team members from December 21-24, 2020, in a festive drive-thru. This initiative coincides with the reopening of the Rio All-Suite Hotel & Casino on December 22, marking the last of Caesars' properties in Las Vegas to resume hospitality and gaming operations. The reopening follows compliance with Nevada's regulations post-pandemic, creating a celebratory environment for employees. The Rio offers various amenities, including restaurants, bars, and a new sports book with expanded betting options.
Caesars Entertainment plans to invest $325 million to transform Harrah's New Orleans into Caesars New Orleans by 2024. This project will enhance the property, featuring a new 340-room hotel tower and upgraded culinary offerings. As the only land-based casino in New Orleans, this development is projected to create 600 construction jobs and 500 permanent jobs. The investment underscores Caesars' commitment to the city and aims to boost its status as a leading entertainment destination, providing significant tax revenue to Louisiana.
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.
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