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 (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.
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.
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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.