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.
News and press releases for Caesars Entertainment, Inc. (NASDAQ: CZR) highlight the company’s activities as a major casino-entertainment operator with a significant digital presence. Investors and followers of CZR can use this page to review company-issued updates on financial performance, property developments, digital product launches and corporate governance events.
Recent news includes quarterly earnings announcements, where Caesars reports net revenues, segment results for its Las Vegas, regional, Caesars Digital and managed and branded operations, and non-GAAP measures such as Adjusted EBITDA. These releases often feature commentary from senior leadership on trends across its resort portfolio and digital platforms.
Caesars also issues news about the expansion of its Caesars Sportsbook and online casino offerings. Examples include the launch of mobile and in-person sports wagering in Missouri, the opening of new Caesars Sportsbook locations at properties like Harrah’s Kansas City, Horseshoe St. Louis and Monmouth Park in New Jersey, and partnerships to bring a Caesars Sportsbook to Rampart Casino in the Summerlin area, subject to regulatory approval. Other announcements describe enhancements to the Caesars Palace Online Casino app, such as the Caesars Rewards Shop feature for redeeming Reward Credits.
Entertainment and hospitality updates are another recurring theme. Releases cover developments at Caesars Palace in Las Vegas, including recognition for Restaurant Guy Savoy and new residencies at The Colosseum, such as Cyndi Lauper: Live in Las Vegas. Corporate governance items, like a board member’s planned retirement, are reported through both SEC filings and associated press statements.
By reviewing this news feed, readers can follow how Caesars Entertainment presents its strategy across resort operations, digital gaming, loyalty integration and responsible gaming initiatives, as well as track notable property-level and brand-level milestones.
On September 30, 2020, Caesars Entertainment (CZR) announced a cash acquisition agreement to acquire William Hill for approximately £2.9 billion. This strategic move aims to position Caesars among the largest gaming and entertainment companies in the U.S. by merging its extensive land-based casinos with William Hill's sports betting expertise. The acquisition, subject to regulatory approvals, is expected to finalize in the second half of 2021, enhancing Caesars' market access and customer experience in the growing U.S. sports betting sector.
On September 29, 2020, Caesars Entertainment (NASDAQ: CZR) announced a public offering of 31 million shares at $56.00 per share, with an option for underwriters to buy an additional 4.65 million shares. The proceeds will be utilized for general corporate purposes, potentially including a cash offer for William Hill plc. Deutsche Bank Securities and J.P. Morgan serve as joint lead managers for the offering, which is part of an effective shelf registration with the SEC. This offering is critical as it reflects the company's strategic growth amidst the challenges posed by the COVID-19 pandemic.
Caesars Entertainment, Inc. (NASDAQ: CZR) has launched an underwritten public offering of 30 million shares of common stock, with an option for underwriters to purchase an additional 4.5 million shares. The proceeds from this offering will be used for general corporate purposes, including a possible cash offer for William Hill plc. The offering is managed by Deutsche Bank Securities and J.P. Morgan. This announcement follows the company's efforts to support operations amid the economic challenges posed by COVID-19.
On September 18, 2020, Caesars Entertainment (NASDAQ: CZR) announced a $400 million mortgage with VICI Properties (NYSE: VICI), secured by the CAESARS FORUM Conference Center in Las Vegas. The five-year mortgage carries an initial interest rate of 7.7% and permits prepayment starting in the third year. Concurrently, Caesars and VICI amended their existing Put-Call Right Agreement, accelerating VICI's call option to 2025. The conditionality regarding a potential land sale near The LINQ has been waived, and both parties are evaluating this land transaction.
Caesars Entertainment has secured a multi-year agreement with ESPN, enhancing their sports betting operations through direct link integrations with ESPN's digital platforms, notably featuring William Hill's sportsbook odds. This partnership will allow seamless access for ESPN users to Caesars Sportsbook in legalized betting states. Following their exclusive partnership with William Hill, Caesars aims to deepen its foothold in the U.S. sports betting market. William Hill has already opened 12 branded sportsbooks at Caesars' venues, with plans for more across multiple states pending regulatory approval.
Caesars Entertainment, Inc. (NASDAQ: CZR) announced the reopening of The LINQ Hotel + Experience for weekend stays starting Sept. 10. The gaming floor and amenities had reopened on June 12. This follows successful reopenings of other properties like Caesars Palace and Flamingo. Enhanced health and safety protocols are in place, including health screenings and mandatory mask-wearing. The LINQ offers various amenities including dining options and gaming. Caesars' Vegas Getaway Sale allows guests to save up to 25% until Sept. 14.
Caesars Entertainment (CZR) and VICI Properties (VICI) have finalized agreements to sell Harrah's Louisiana Downs to Rubico Acquisition Corp. for $22 million. The proceeds will be distributed as $16.5 million to Caesars and $5.5 million to VICI, adjusted for cash and working capital. The deal is anticipated to close by early 2021, pending regulatory approvals. Importantly, annual base rent payments under the existing lease between Caesars and VICI will remain unchanged, indicating stability in their ongoing financial arrangements.
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ESPN and Caesars Entertainment (CZR) have announced the launch of a new state-of-the-art studio at The LINQ Hotel in Las Vegas, debuting on August 24, 2020. This facility will enhance ESPN's content related to sports betting, including the relocation of Daily Wager starting September 8, and the introduction of a new digital sports betting show this fall. The studio is equipped with advanced 4K technology and will serve as the hub for ESPN’s sports betting content. This partnership signifies Caesars' commitment to establishing Las Vegas as a major sports betting destination.
Caesars Entertainment's Harrah's Resort Atlantic City is launching Bayside ROCK Live, an outdoor entertainment series from August 28 to October 23, featuring tribute bands playing 70's and 80's music. The event, located at The Waterfront Conference Center, will offer socially-distanced seating for two at a price of $44.50 per ticket, available via Ticketmaster. In partnership with LG Business Solutions and New Jersey Lottery, this initiative aims to revive outdoor entertainment while ensuring health protocols are in place. A portion of ticket sales will support local charities.
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