Caesars Entertainment Inc Stock Price, News & Analysis

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.

Caesars Entertainment, Inc. (NASDAQ: CZR) has announced a definitive agreement to sell Tropicana Evansville for $480 million in cash to Gaming and Leisure Properties and Twin River Worldwide Holdings, with the transaction expected to close by mid-2021, pending regulatory approvals. This sale also involves incorporating the real estate of Isle Casino Hotel Waterloo and Isle Casino Hotel Bettendorf into an existing lease with Gaming and Leisure Properties. CEO Tom Reeg expressed gratitude to the Evansville team for their dedication during the COVID-19 pandemic.

Caesars Entertainment (CZR) has partnered with the Indianapolis Colts as their first NFL team sponsor, in collaboration with William Hill US. This deal focuses on enhancing fan engagement throughout the 2020 football season in Indiana. Part of the initiative includes a free-to-play "Pick 6 Predictor" game on the Colts Mobile App, where fans can win prizes. Pending regulatory approval, Caesars' mobile sports betting app will also integrate with the Colts' marketing efforts, providing exclusive offers to fans.

Caesars Palace in Las Vegas announces the introduction of a new restaurant, Amalfi by Bobby Flay, set to open in late spring 2021. The restaurant will replace the long-standing Mesa Grill, which has operated for 16 years. Amalfi will feature an Italian menu inspired by Flay's travels to Italy, emphasizing seafood and fresh ingredients. Highlights include a seafood display, house-made pastas, and a variety of antipasti. Reservations are recommended as Mesa Grill concludes its final days of service on November 14, 2020.

Caesars Entertainment announced the reopening of The Cromwell, the first adults-only resort on the Las Vegas Strip, on October 29, 2020. This boutique hotel will operate seven days a week for guests aged 21 and over, although the award-winning restaurant GIADA will welcome all ages. The opening adds to Caesars' existing Las Vegas venues and emphasizes a focus on elevated hospitality and enhanced health protocols in light of COVID-19. Guests can enjoy various amenities, including gaming options and dining experiences, with special promotions running through November.

Caesars Entertainment (NASDAQ: CZR) announced the return of live entertainment on the Las Vegas Strip, implementing enhanced health protocols. The shows set to resume include X Country (starting Oct. 22), ABSINTHE (Oct. 28), Piff the Magic Dragon (Oct. 29), and Tape Face (Nov. 11). Health measures involve verbal screenings, temperature checks, modified seating, and mandatory masks. This initiative marks a significant step in revitalizing the Las Vegas experience while prioritizing guest safety. Tickets range from $47.94 to $149, available online or via phone.

Caesars Entertainment's Caesars Rewards program has expanded by 20% and added 18 properties following the merger with Eldorado Resorts. The new network comprises over 55 resorts across the U.S., enhancing customer experience with seamless integration of legacy rewards programs. Members can now earn and redeem loyalty currency universally across properties. Recognized as the 2020 USA TODAY 10Best Readers' Choice Awards winner for Best Players Club, the program offers extensive earning opportunities through various hospitality and travel partners, marking a significant milestone for Caesars.

Caesars Entertainment, Inc. (NASDAQ: CZR) will announce its financial results for Q3 2020 on November 5, 2020, after market close. A conference call will follow at 5:00 p.m. ET to discuss the results. Participants can join by dialing 833-665-0647 or 914-987-7309 for international calls, using Conference ID 4343368. The call will be accessible on the company's Investor Relations website. A recording will be available for 90 days post-event. Caesars is a leading gaming-entertainment provider in the U.S., known for its diverse brands and commitment to excellence.