|Bid||0.00 x 27000|
|Ask||0.00 x 28000|
|Day's Range||11.81 - 11.90|
|52 Week Range||5.84 - 12.23|
|Beta (3Y Monthly)||2.41|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 30, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||12.02|
LAS VEGAS, Sept. 16, 2019 /PRNewswire/ -- Caesars Entertainment Corporation (CZR) ("Caesars" or the "Company"), one of the world's most diversified gaming and entertainment companies, today honors the 30th anniversary of its Responsible Gaming program. In recognition of this monumental anniversary, Caesars is pledging more than $1 million to the National Center for Responsible Gaming and other third-party institutions in the U.S. and elsewhere to help further advance and shape the future of responsible gaming. "Thirty years ago, Caesars Entertainment took the initiative to create the first responsible gaming program, serving our guests who could no longer play for fun.
NEW YORK, Sept. 13, 2019 -- If you own shares in any of the companies listed above and would like to discuss our investigations or have any questions concerning this notice.
LAS VEGAS, Sept. 11, 2019 /PRNewswire/ -- Caesars Entertainment (CZR), one of the world's most diversified casino-entertainment providers, today announced that Janis "Jan" Jones Blackhurst has been appointed to the Company's Board of Directors, effective September 5, 2019, subject to regulatory approval. Ms. Blackhurst, who has been a senior executive at Caesars since 1999, will continue in her current role, Executive Vice President, Public Policy & Corporate Responsibility, until October 1, 2019. Ms. Blackhurst replaces Richard Schifter who has resigned as a director effective September 5, 2019.
Fans Celebrate with Two Sold-out Performances by GRAMMY Award Winner, CMA Entertainer of the Year and ACM Entertainer of the Year Keith Urban LAS VEGAS , Sept. 9, 2019 /PRNewswire/ -- The Colosseum at ...
Macau witnesses Gross Gaming Revenue decline in August. However, MGM Resorts (MGM) and Caesars Entertainment (CZR) continues to expand sports betting footprint.
NEW YORK, Sept. 06, 2019 -- If you own shares in any of the companies listed above and would like to discuss our investigations or have any questions concerning this notice.
To Cut Or Not to Cut? Lagarde Answers the Question Federal Reserve officials are prevaricating over whether to cut dollar interest rates at the next Federal Open Market Committee meeting on September 17-18. St. Louis Fed President James Bullard is the most dovish (from the inflation side) and hawkish (from the saver side) calling for […]The post Market Morning: Fed Debates, Johnson Loses, Hong Kong Wins, Italy Gets New Government appeared first on Market Exclusive.
LAS VEGAS, Sept. 3, 2019 /PRNewswire/ -- Caesars Entertainment (CZR), one of the world's most diversified casino-entertainment providers, reports that just over a year after the U.S. Supreme Court's decision to strike down the federal Professional and Amateur Act (PASPA) they have successfully launched new businesses and strategic partnerships, capitalizing on the rapid expansion of sports betting across the U.S. Since last August, Caesars Entertainment has expanded its sports betting footprint to include Caesars branded sports books in seven states (Nevada, New Jersey, Pennsylvania, Mississippi, Iowa, Indiana and New York) totaling 29 locations in operation by the end of September. In addition, Caesars offers mobile sports betting in Nevada, New Jersey and, pending regulatory approval, will launch in Pennsylvania Q4 2019. For example, one of Caesars Entertainment's properties in Biloxi, Mississippi, experienced a month over month attendance increase of 10%, beverage sales up 300% and improved overall gaming revenue from new-to-brand and re-activated customers as a result of the new sports book opening.
(Bloomberg) -- Caesars Entertainment Corp. said it won’t pursue a license for a casino in Japan and will focus instead on its current business plan, including a merger with Eldorado Resorts Inc. scheduled to close next year.Caesars management made the decision out of sensitivity to the Japanese government and business partners, who must make decisions this year to advance the casino process, Chief Executive Officer Tony Rodio said in a statement.Casino operators all over the world have been salivating at the prospect of opening resorts in Japan, which has the potential to become Asia’s second-largest gambling market after Macau, China. The Japanese government has given preliminary approval for what’s expected to be three major resorts. Cities are formalizing their bidding processes, with proposals for concepts in Osaka due next month.A casino in Japan is expected to cost upward of $10 billion, with the government’s intended focus on generating tourism and convention revenue from adjacent hotels and meeting space. MGM Resorts International has already stated its intent to pursue a resort in Osaka, while Las Vegas Sands Corp. said earlier this month it wouldn’t submit a bid there, favoring instead a resort in the Tokyo area. Wynn Resorts Ltd. has also signaled an interest in the Tokyo Bay, which could include Yokohama.“As Caesars has pursued a license to operate in Japan over many years, we have been treated with respect and goodwill by Japanese government, business and community leaders, and with kindness by all the Japanese people we have encountered during this journey,” Caesars Chairman Jim Hunt said Wednesday in a statement shared with Bloomberg News.Clearer PathCaesars is withdrawing just as the path toward casino resorts in Japan has become clearer. In recent years, the island nation has passed laws that legalized casino gambling and set forth conditions allowing resorts to be built. Operators and local municipalities are waiting for the national government to appoint a casino control commission and release guidelines on how sites and operators will be chosen, a process that has been beset by delays.Yokohama, located about 30 minutes south of Tokyo, formally announced last week that it wants to take proposals for an integrated resort to be built on its Yamashita Pier. Right after the announcement, operators such as Las Vegas Sands, Wynn and Galaxy Entertainment Group Ltd. came out with statements praising the move and underlining their interest in building in Yokohama.Investment firm CLSA predicts Japan’s gross gaming revenue could reach $20 billion annually.Caesars, the largest owner of casinos in the U.S., missed an opportunity to get a license in Macau, the biggest casino market in the world. The company has been struggling with a large debt load taken on after a 2008 leveraged buyout. Financier Carl Icahn took control of the Las Vegas-based company and engineered the $8.6 billion sale to Eldorado.Caesars shares rose 0.8% to $11.43 in New York on Wednesday.(Updates shares in final paragraph)To contact the reporters on this story: Lisa Du in Tokyo at email@example.com;Christopher Palmeri in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Horseshoe Southern Indiana will open its new sports betting venue, called The Book, on Sept. 12. This comes after Indiana Gov. Eric Holcomb signed a bill into law in May that legalized sports gambling in the Hoosier State beginning Sept. 1. “Sports betting brings a new type of gaming fun and excitement to Horseshoe and is part of our ongoing commitment to offer elevated entertainment experiences to our guests,” Horseshoe Southern Indiana Senior Vice President and General Manager Brad Seigel said in the release.
This will be the famous chef's fourth location — and his first in the Midwest — for this concept. It's slated to open in November.
Well before sports betting is offered in Illinois, two northwest Indiana casinos are planning to open sports books in advance of the NFL season kickoff on Sept. 5.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Investors are bracing for a significant downturn in the world economy, cutting earnings estimates amid a market sell-off. While all cyclical industries face some form of risks, some companies within each sector are more vulnerable than others as the outlook deteriorates.In recent recessions, technology and finance were the triggers -- the internet bubble caused the 2000 market crash and subprime lending led to the 2008-2009 global financial crisis that spread to housing, manufacturing and consumer demand.“The financial sector was leading in 2002-2007. In this cycle, it’s the tech sector,” said Bloomberg Chief Equity Strategist Gina Martin Adams. Still, she cautioned that in spite of the warning signs, it may be too early to predict a recession, adding that “tech is the strength of the economy.”Here are five global companies that may stand to lose more than others:AmazonAmazon.com Inc. is among the most cyclical U.S. internet companies because the Seattle-based e-commerce giant relies heavily on consumer spending. It’s also been building its employee base, adding more than 600,000 jobs and hundreds of huge warehouses to store and ship products. Some of those costs are fixed, while others may be hard to reduce quickly if there’s a steep economic decline. It also faces regulatory risks.“Amazon’s near-term growth may be at risk as macroeconomic conditions worsen, regulatory scrutiny rises and spending cycles spark concern,” Jitendra Waral and April Kim, analysts at Bloomberg Intelligence, wrote in a recent note. “If demand were to slow amid Amazon’s increased spending on logistics, profit would face a double whammy.”One of Amazon’s fastest-growing new businesses -- digital advertising -- is also susceptible to economic ups and downs. Still, Amazon is riding a broad e-commerce growth trend that is unlikely to reverse during a recession.SwatchMakers of luxury items tend to endure more risks in a recession than producers of mass-market consumer goods. This time around, the effects would be compounded by U.S.-China trade tensions and protests in Hong Kong, which has already hurt the city’s economic outlook.Swatch Group AG, the biggest maker of Swiss timepieces, has more exposure to Hong Kong than any other luxury company, generating more than a third of the group’s sales in the Greater China region, according to Kepler Cheuvreux analyst Jon Cox. The maker of Omega watches also has a smaller presence in the steadier luxury categories of jewelry and fashion than rival Richemont, which owns brands including Chloe, Van Cleef & Arpels and Cartier.The high-end segment has also been far less elastic in a downturn. In 2009, Swiss watch exports slumped 22% amid the financial crisis.So far, the economic slowdown in China has done little to damp the appetite of Chinese consumers for luxury goods. But watchmakers are feeling the effects of the sometimes violent demonstrations in Hong Kong, their largest export market. Timepiece sales there could plunge as much as 40% in the second half, Cox said.Swatch also faces sluggish watch sales in Europe. If the U.S. takes a turn for the worse, the industry could be hit by a reversal of the recovery in its second-biggest market.Swatch ExportsDaimlerThe German corporate giant just doesn’t just face a slowdown in its home market -- it also has substantial exposure to a potential downturn in the U.S. The automaker produces two high-margin SUVs in Alabama and its Freightliner division is the leader in the North American heavy-truck market. Demand for transportation of goods tends to closely mirror broader economic swings and analysts say heavy-truck sales in the region have peaked following years of robust growth.Daimler AG relies on the U.S. for about a quarter of the group’s revenue last year. That’s more than Germany or China, where it operates a joint venture with BAIC.After two back-to-back profit warnings following their debut in May, Daimler’s new leadership duo has vowed to improve efficiency. Profitability at the Mercedes-Benz passenger-car division has been sub-par compared with its peers, and the car unit is up against waning demand in its two biggest markets by volume: China and the U.S.CaesarsAn economic downturn could be particularly ill-timed for Caesars Entertainment Corp. The largest owner of casinos in the U.S. is about to increase its debt load again to finance a megadeal, after struggling for years to recover from a 2008 leveraged buyout that left it saddled with debt at the height of the Great Recession. (Caesars ended up putting its largest division into bankruptcy to clean up its balance sheet.)Caesars is set to merge with Eldorado Resorts Inc. early next year in a deal that involves $8.2 billion in new financing, amid rising competition from new casinos, both online and at its properties. Unlike some of its peers that focus more on luxury, such as Wynn Resorts Ltd., Caesars operates a lot of casinos in small markets including Tunica, Mississippi, and Metropolis, Illinois. Combined with Eldorado, it will have 60 owned, operated and managed casino–resorts across 16 states.And even the Las Vegas Strip, once considered invincible as a gambling destination, has yet to see casino revenue return to its 2007 high.Toll BrothersA major economic slowdown would almost certainly hit home sales and prices for builders like Toll Brothers Inc. “If we do go into a recession, housing isn’t going to be the cause,” said Drew Reading, an analyst at Bloomberg Intelligence. “It’s going to be the victim.”The bigger challenge for the industry right now is affordability, especially in high-cost metros on the West Coast. Toll Brothers, the largest U.S. luxury homebuilder, has been trying to diversify geographically. But it’s still highly reliant on California, where it got nearly a third of its revenue last year.One the plus side: Single-family housing starts still haven’t returned to historical levels more than a decade after the financial crisis, which means homebuilders won’t be sitting on as much supply if the economy takes a turn for the worst.\--With assistance from Christoph Rauwald, Kevin Miller, Corinne Gretler, Noah Buhayar, Ian King, Christopher Palmeri and Alistair Barr.To contact the reporter on this story: Cécile Daurat in Wilmington at firstname.lastname@example.orgTo contact the editors responsible for this story: Crayton Harrison at email@example.com, Linus Chua, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
TICKETS FOR SHOWS THROUGH SEPT. 7 ARE ON SALE NOW LAS VEGAS , Aug. 16, 2019 /PRNewswire/ -- Wednesday evening, Rock & Roll Hall of Fame Inductees & legendary British rock 'n' roll icons Def Leppard launched ...
NEW YORK, NY / ACCESSWIRE / August 16, 2019 / Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies: Caesars Entertainment Corporation (NASDAQ:CZR) ...
When looking for new investment ideas, following corporate insider activity can provide valuable insights. A large buy from someone with in depth knowledge of the company might indicate that a stock is set to outperform. Insider buys can also impact share prices. After two directors purchased shares of Cars.com Inc. (CARS) on August 13, the stock surged 3%. We used all of the above strategies to find 3 hot services stocks insiders are buying. Red Rock Resorts Inc. (RRR)Red Rock Resorts is a gaming, management and development company. It’s best known for operating casinos in Las Vegas and Reno, Nevada. On August 8 and 9, Directors Lorenzo Fertitta and Frank Fertitta III purchased 760,000 shares of RRR at an average price of 18.61 per share. They now own 66% of the company, with the buy costing more than $14 million. The buy sent shares up 2%. The purchase comes shortly after the company reported a second quarter revenue beat combined with an earnings miss on August 6. Despite mixed results from its second quarter, management maintains that its newly renovated Palms casino is on track to generate a strong high-single-digit return next year. Mutual fund manager, Ron Baron, sees the casino as an important catalyst for the company. “Its Palms casino should generate more cash flow, which we expect Red Rock to use to pay down debt and reduce leverage,” he explained. Carlo Santarelli, a five-star analyst according to TipRanks, agrees that RRR’s Palms casino could drive continuous long-term growth for the company. On August 12, the Deutsche Bank analyst reiterated his Buy rating and $24 price target. He thinks share prices could jump 23% over the next twelve months.The rest of the Street is cautiously optimistic about RRR. It has a ‘Moderate Buy’ analyst consensus and a $28 average price target, suggesting 42% upside potential. Caesars Entertainment Corporation (CZR) Caesars is a gaming hotel and casino corporation that operates more than 50 properties as well as seven golf courses.Following a disappointing earnings release on August 5, hedge fund guru, Carl Icahn, increased his stake in the company by 15 million shares, making him a 17% owner. At an average share price of $8.45, the buy set him back $126.8 million. Despite posting a greater loss than analysts originally predicted, revenue did increase 5% from the prior-year quarter to reach $2 billion. Management highlighted Centaur as well as the strength of its Las Vegas hotel and food and beverage businesses as the key drivers of revenue growth. CZR is also expecting to get a boost after its $17 billion merger with Eldorado Resorts (ERI) is finalized.“As we work toward successful completion of the proposed merger with Eldorado Resorts, the management team and I remain focused on improving the company's operations and financial profile through incremental revenue opportunities and operating efficiencies,” CEO Tony Rodio added. It should be noted that Icahn pushed the company to oust former CEO Mark Frissora and replace him with the more deal-oriented Rodio. Santarelli, who also covers CZR, agrees that its strong fundamentals and prospects from its ERI merger make it a compelling buy. On August 7, he maintained his Buy rating and $13 price target. The price target implies share prices could gain 12% over the next twelve months. CZR has a ‘Moderate Buy’ analyst consensus and an average price target of $12, indicating 7% upside potential. Dish Network (DISH) The TV provider has struggled in the past to compete with streaming platforms such as Netflix (NFLX) and Hulu that have threatened its core business. However, it has made significant progress in its efforts to compete with its Sling TV service that allows customers to stream live TV channels. Corporate insiders believe that these efforts will ultimately pay off. From August 5-7, DISH’s Chairman and co-founder, Charles Ergen, bought 500,005 shares at an average price of $31.28 per share. The $15.7 million purchase cemented his standing as a more than 10% owner of the company as well as sent shares soaring by 4%. While DISH reported on July 29 that its second quarter saw a loss of 31,000 subscribers, Ergen sees potential coming from its foray into the wireless business. On July 24, the company announced that it will acquire $5 billion worth of assets from T-Mobile (TMUS) and Sprint (S). The assets include both the Boost Mobile segment of the business and spectrum assets. CEO Erik Carlson explained, “The wireless deal set us in a clear course to become a fourth wireless providers of the nation, and it’s going to happen quickly. I’m confident in our grafted fundamentals and I'm certainly confident in our ability to execute.”Five-star analyst, Colby Synesael, believes that this acquisition can give DISH the advantage it needs to compete. On July 30, he reiterated his Buy rating and raised the price target from $57 to $58. This move suggests that share prices could increase by a whopping 80% over the next twelve months. The Cowen & Co. analyst boasts an 82% success rate and gets an average return of 18% per rating.The TV provider is one of the riskier stocks on our list. It has a ‘Hold’ analyst consensus and a $37 average price target, suggesting 15% upside potential.
William Hill’s aggressive expansion into the U.S. could see its sports books break through the $1 billion barrier across several states that recently legalized sports gambling, including New Jersey and Mississippi. The British bookmaker has been growing quickly in the sports-obsessed U.S. market as it looks to soften the impact of a regulatory crackdown at home that is hitting revenues and forcing the closure of almost a third of its stores. Now (WMH) (ticker: WMH.U.K.), which is scheduled to report its half-year results on Friday, is hoping it can generate around 45% of its revenues in the U.S., where it is positioning itself in time for the start of the new N.F.L. season in September by opening dozens of new sports books.