Caesars Entertainment Inc Stock Price, News & Analysis

Caesars Entertainment reported significant financial challenges for the second quarter of 2020, revealing a net revenue of $126.5 million, a drastic 80.1% decline year-over-year. The company experienced a net loss of $100 million compared to a profit of $18.9 million the previous year. Adjusted EBITDA stood at negative $10.4 million, a stark contrast to $164.8 million from the same period in 2019. The merger with Eldorado Resorts was finalized in July 2020, creating the largest casino and entertainment entity in the U.S. Despite operational setbacks due to COVID-19, all properties have reopened, fostering optimism for recovery.

On July 23, 2020, Caesars Entertainment (CZR) reopened Bally's Las Vegas following state directives. This reopening follows the successful merger with Eldorado Resorts, forming the largest casino and entertainment company in the U.S. Key amenities at Bally's now open include the Blu Pool and various dining options. Enhanced health and safety protocols are in place to ensure guest safety. Management expressed excitement for the reopening and emphasized the company's commitment to service and safety during this transition.

Caesars Entertainment, Inc. has successfully completed its acquisition of Caesars Entertainment Corporation, establishing the largest casino and entertainment company in the U.S. The merger expands Caesars' portfolio to over 55 properties globally, enhancing its position in the regional and destination gaming markets. Caesars Rewards now boasts over 60 million members, offering enhanced loyalty benefits. The combined entity aims to capitalize on growth opportunities while focusing on corporate social responsibility initiatives, including diversity and inclusion programs.

Bugsy & Meyer's Steakhouse has officially opened at Flamingo Las Vegas, representing a $10 million investment that honors the resort's rich 75-year history. The restaurant features six unique dining experiences, an interactive design by renowned artists, and a menu highlighting classic steakhouse dishes with modern twists. Award-winning chef Lamar Moore leads the culinary team, enhancing the dining experience with a specialty curated art collection. The venue ensures health and safety protocols due to ongoing health concerns, opening Thursday to Monday from 5-10 p.m.

On July 3, 2020, Caesars Entertainment (CZR) reopened its Atlantic City resorts, including Caesars, Harrah's Resort, and Bally's, after over 100 days of closure due to state directives. The reopening was marked by a ribbon-cutting ceremony attended by company officials and local leaders. With enhanced health and safety protocols, the resorts now offer socially distanced gaming and outdoor dining experiences, including options from notable chefs. The company is also providing a 10% discount for first responders as a gesture of appreciation.

Caesars Entertainment Corporation (CZR) has reopened the Nobu Hotel Caesars Palace in Las Vegas as of July 2, 2020, following directives from Governor Steve Sisolak and the Nevada Gaming Control Board. This reopening is part of a broader initiative that also includes the return of various resort amenities. Enhanced health protocols are in place for staff and guests, promoting safety amidst the ongoing pandemic. Guests can utilize a 24-hour virtual concierge service to order from renowned restaurants.

On June 26, 2020, Caesars Entertainment announced the reopening of its Atlantic City resorts - Bally's, Caesars, and Harrah's Resort - on July 3, 2020, coinciding with the Fourth of July holiday. This decision follows New Jersey Governor Phil Murphy's authorization for casino operations to resume. Enhanced health and safety protocols will be implemented, ensuring social distancing and cleanliness throughout the venues. Promotions for Caesars Rewards customers include 5X Tier Credits and Comps, further incentivizing visits to these popular gaming destinations.

Caesars Entertainment Corporation (NASDAQ: CZR) announced the reopening of Nobu Hotel Caesars Palace in Las Vegas on July 2, 2020, following the successful reopening of several properties including Caesars Palace and Flamingo Las Vegas. Nobu Hotel features luxurious accommodations, including the renowned rooftop Nobu Villa, and enhanced health protocols to ensure guest safety. The reopening aligns with increased demand for Las Vegas visits and aims to uphold the hotel’s reputation for excellence in hospitality and service.

Caesars Entertainment Corporation (CZR) has mandated a universal mask policy across its properties, effective from June 24, 2020, at 12 p.m. PT. All guests, employees, and visitors must wear masks indoors, with exceptions only for eating or drinking. This decision comes in response to COVID-19 health guidelines, emphasizing the importance of masks and social distancing. The policy applies to properties in multiple states and aims to enhance health and safety measures within the company’s operations. Enhanced cleaning protocols and employee health screenings are also part of the updated safety measures.