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. reports developments across its casino-resort portfolio, digital wagering business and hospitality brands. The company operates and manages Caesars, Harrah’s, Tropicana, Flamingo and other gaming destinations in Las Vegas, Atlantic City and regional markets, and it connects guests through the Caesars Rewards loyalty program.
Recurring updates include quarterly operating results, Caesars Digital performance, hotel and dining offers, entertainment residencies at Caesars Palace venues, resort renovation and amenity projects, and managed-casino openings such as Harrah’s Oklahoma. News also covers capital resources and debt levels when the company releases financial results.
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.
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.
Summary not available.
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.