Caesars Entertainment Inc Stock Price, News & Analysis

Caesars Entertainment (CZR) reported Q3 2024 financial results with GAAP net revenues of $2.9 billion, down from $3.0 billion year-over-year. The company posted a net loss of $9 million compared to net income of $74 million in the prior year. Same-store Adjusted EBITDA remained stable at $1.0 billion. Caesars Digital showed strong performance with Adjusted EBITDA of $52 million, up from $2 million, driven by 40% growth in net revenues. Las Vegas operations achieved record Q3 hotel, F&B, and banquet revenues, while Regional segment faced challenges from new competition and construction disruption.

Gordon Ramsay is set to open his first Virginia restaurant, Ramsay's Kitchen, at Caesars Virginia in Danville later this year. The restaurant will offer an elegant yet approachable menu inspired by Ramsay's global travels, featuring signature dishes like Beef Wellington and Crispy Skin Salmon.

Located adjacent to Hotel Registration, Ramsay's Kitchen will have over 250 seating options, including a private dining room and outdoor patio. The restaurant will serve breakfast, lunch, and dinner in a modern ambiance with rich furnishings.

This opening is part of Gordon Ramsay North America's expansion across the U.S. and Canada, in partnership with Caesars Entertainment. Caesars Virginia, set to open in late 2024, will feature a 320-room hotel, 90,000 square feet of gaming space, and 50,000 square feet of meeting space.

Caesars Entertainment, Inc. (NASDAQ: CZR) has announced the pricing of its Senior Notes due 2032 offering. The notes will have an interest rate of 6.000% per annum and an issue price equal to 100% of the principal amount. The aggregate principal amount has been increased to $1,100.0 million from the previously announced $1,000.0 million.

The offering is expected to close on or about October 17, 2024, subject to customary conditions. The notes are being offered in a private placement to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act.

Caesars intends to use the proceeds to tender, redeem, or repurchase a portion of its existing 8.125% Senior Notes due 2027, and to pay related fees and expenses.

Caesars Entertainment, Inc. (NASDAQ: CZR) has announced its intention to offer $1,000.0 million aggregate principal amount of senior notes due 2032 in a private placement. The offering is subject to market and other conditions and will be made to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act.

The company plans to use the proceeds to tender, redeem or repurchase a portion of its existing 8.125% Senior Notes due 2027 and to pay associated fees and expenses. The new notes will not be registered under the Securities Act and may only be offered or sold in the U.S. under exemption from registration requirements.

Caesars Entertainment, Inc. (NASDAQ: CZR) has announced that it will release its financial results for the third quarter of 2024 after the market closes on Tuesday, October 29, 2024. The company will also host a conference call on the same day at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) to discuss the results and other company-related matters.

Interested participants can register for the call through a provided link, after which they will receive an email with the dial-in number and a unique PIN for access. The call will also be available via webcast on the Investor Relations section of Caesars Entertainment's website. A replay of the call will be accessible for 90 days following the event.

Caesars Entertainment (NASDAQ: CZR) has launched the Caesars Sportsbook Muckleshoot app at Muckleshoot Casino Resort in Auburn, Washington. The app allows guests 21 and older to place mobile sports bets while on the property, expanding the sports wagering experience beyond the on-premise sportsbook opened in 2022. The app offers live scoreboards, game streaming, secure payouts, and daily promotions.

The physical sportsbook features over 20 TVs, a video wall, and a live sports ticker. Caesars emphasizes responsible gaming, implementing a 21+ policy for all gaming options. This launch underscores Caesars' commitment to providing innovative gaming experiences in the Pacific Northwest.

Caesars Entertainment (NASDAQ: CZR) has launched Maine's first in-person sports wagering location at Oddfellahs, a new sports bar in downtown Portland. This milestone is achieved through a partnership with First Tracks Investments The venue offers a Vegas-style sportsbook experience with 36 screens, self-service betting kiosks, and a ticket window. Caesars Sportsbook has been offering mobile sports wagering in Maine since November 2023, in partnership with three Wabanaki Nations.

The company emphasizes its commitment to responsible gaming, having received RG Check accreditation in Ontario. Oddfellahs enforces a strict 21+ policy for entry and wagering. This expansion marks a significant step in Caesars' growth strategy and Maine's sports betting landscape.

Garth Brooks has announced the final three weekends of his Las Vegas residency, Garth Brooks/Plus ONE, at The Colosseum at Caesars Palace. The last shows will take place from February 21 through March 9, 2025. Tickets go on sale to the general public on September 19, 2024, with various presales starting from September 16. The residency, which began in May 2023, has been selling out all performances.

Brooks expressed his emotions about the residency ending, calling it his favorite gig so far. The show format allows for varying instrumentation and occasional special guests, providing a unique experience each night. Additionally, Brooks has released a boxed set, Garth Brooks LIVE LIVE, commemorating his Las Vegas Residency, featuring live recordings and a custom book.

The Black Eyed Peas have announced their first Las Vegas residency, titled 'Black Eyed Peas: 3008 The Las Vegas Experience', set to debut on February 15, 2025 at PH Live at Planet Hollywood Resort & Casino. This innovative show promises to blend elements of concerts, Disney rides, AI, and technology, creating an interactive experience that pushes the boundaries of live performances.

Tickets will go on sale to the general public on September 14, 2024, at 10 a.m. PT. Various presales are available, including Citi cardmember access starting September 11. The initial 15-date schedule spans February, March, and May 2025, with all shows starting at 8 p.m.