Caesars Entertainment

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  • Wed, Feb. 3, 12:29 PM
    • Caesars Entertainment's (CZR -1%) operating unit asks a judge to send its bankruptcy case to mediation.
    • The filing from the casino operator indicates it thinks a settlement with creditors can be hashed out.
    | Wed, Feb. 3, 12:29 PM
  • Mon, Feb. 1, 1:25 PM
    • The NFL hasn't ruled out a team moving to Las Vegas, according to a between-lines-reading of a memo issued to all 32 teams by the league.
    • Last week, Oakland Raiders owner Mark Davis met with Las Vegas Sands CEO Sheldon Adelson, although both the league and 75% of all owners would have to approve of a move by the team.
    • Casino companies would like to have a cozier relationship with the NFL as they look for ways to capitalize on a void that exists with daily fantasy sites being ruled illegal in many states. Offshore sports betting sites are also taking away some revenue from the group which could be remedied to a degree if the NFL landed in Vegas.
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD.
    • Related ETF: BJK.
    • Previously: Las Vegas Sands courts the Oakland Raiders (Jan. 29)
    | Mon, Feb. 1, 1:25 PM | 6 Comments
  • Fri, Jan. 29, 10:44 AM
    • Gaming revenue in Nevada increased 3.3% to $982.06M in December.
    • Las Vegas Strip revenue was 8.2% higher at $600.75M. Strip revenue ended the year down less than 1%.
    • Lower VIP baccarat traffic remains a drag at higher-end casinos.
    • Gaming Control Board report
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD.
    • Related ETF: BJK.
    | Fri, Jan. 29, 10:44 AM | 14 Comments
  • Tue, Jan. 26, 1:38 PM
    • The U.S. casino business could generate revenue up to $93B by 2020 as growth picks up, according to a forecast by Technavio.
    • The upside could be higher for regional casinos which aren't battling to offset the loss of VIP baccarat revenue like Las Vegas operators, although Strip revenue is still seen besting 2015 totals.
    • Forecasts for Macau have been cautious due to the carnage in Chinese equity markets, although analysts note the sector will run up against soft comparables for at least the first part of the year. New openings on the Cotai Strip are expected to bring in new international visitors.
    | Tue, Jan. 26, 1:38 PM | 4 Comments
  • Thu, Jan. 21, 10:11 AM
    • Caesars Entertainment (NASDAQ:CZR) is down 9.1% to $5.70 after reports emerge that a report from a court-appointed bankruptcy examiner will allege the company made fraudulent asset transfers.
    • The report is expected to be released in the middle part of February with some information and names redacted.
    • Previously: NY Post: Caesars Entertainment to be slammed in examiner report (Jan. 21 2016)
    | Thu, Jan. 21, 10:11 AM | 1 Comment
  • Thu, Jan. 21, 7:30 AM
    • Caesars Entertainment (NASDAQ:CZR) will be accused of improper actions in a report filed with the bankruptcy court by an examiner, sources tell New York Post.
    • The report is expected to be officially filed next month. Any finding of fraudelent actions by the company could lead to a wider investigation by state gaming regulators.
    | Thu, Jan. 21, 7:30 AM
  • Wed, Jan. 20, 10:40 AM
    • Casino stocks are getting battered as the cases for revenue recoveries in Macau and Las Vegas start to crumble. Analysts note that the correlation between stock market turmoil and a drop in VIP casino traffic is hard to ignore.
    • Major losses are being racked up by Wynn Resorts (WYNN -10.1%), Melco Crown (MPEL -9.7%), MGM Resorts (MGM -9.5%), Las Vegas Sands (LVS -8.7%), Caesars Entertainment (CZR -8.3%), Boyd Gaming (BYD -8.2%), Century Casinos (CNTY -7.6%), Pinnacle Entertainment (PNK -6.8%), and Penn National Gaming (PENN -6.1%).
    • Related ETF: BJK.
    | Wed, Jan. 20, 10:40 AM | 10 Comments
  • Tue, Jan. 19, 2:18 PM
    • Some casino operators in Missouri would like to amend a state law which allows high rollers to borrow funds through lines of credit.
    • The companies would like to lower the borrowing threshold from $10K to make it applicable to more customers.
    • The current law gives non-intoxicated customers 30 days to repay casino loans interest-free.
    • Gaming companies with a presence in Missouri include Caesars Entertainment (NASDAQ:CZR), Pinnacle Entertainment (NASDAQ:PNK), Isle of Capri (NASDAQ:ISLE), Affinity Gaming, Tropicana Entertainment (OTCQB:TPCA), and Gaming and Leisure Properties (NASDAQ:GLPI).
    | Tue, Jan. 19, 2:18 PM
  • Thu, Jan. 14, 2:25 PM
    • A political battle in Atlantic City bears watching for casino operators set up in the region.
    • A state lawmaker proposed the state should take over operations in Atlantic City for 15 years.
    • The bleeding of casino traffic to casinos in Pennsylvania and New York has left the finances of Atlantic City in shambles, also adding pressure to the state budget.
    • Casino revenue in AC has declined every years since 2006.
    • Related stocks: BYD, CZR, MGM.
    | Thu, Jan. 14, 2:25 PM | 5 Comments
  • Wed, Jan. 13, 2:32 PM
    • Deutsche Bank warns the impact of fewer VIP baccarat players from China will continue to pressure casino operators in Las Vegas.
    • "Given our expectation of continued headwinds related to mainland China patrons, we expect further declines in baccarat revenue in 2016, before a flattening out in 2017," reads the DB note.
    • Baccarat revenue fell 21% in Nevada for the 12-month period ending on November 30 to cut into some improving overall gaming revenue trends.
    • Related stocks: LVS, MGM, WYNN, CZR, BYD.
    • Related ETF: BJK.
    | Wed, Jan. 13, 2:32 PM | 17 Comments
  • Fri, Jan. 8, 10:40 AM
    • Regional casino stocks are notable outperformers on the day as investors bet that a strong jobs report could help traffic. An upgrade on Boyd Gaming is also helping to tip sentiment.
    • Gainers include Isle of Capri (NASDAQ:ISLE) +3.2%, Caesars Entertainment (NASDAQ:CZR) +4.1%, Penn National Gaming (NASDAQ:PENN) +3.0%, Churchill Downs (NASDAQ:CHDN) +1.2%, and Full House Resorts (NASDAQ:FLL) +1.4%.
    • The Macau majors are also showing gains, although the rough start to the year in China has all of them in negative territory for the week. Las Vegas Sands (NYSE:LVS) is the leader on the day with a 2.7% rise, while Wynn Resorts (NASDAQ:WYNN) is level at $60.
    • Related ETF: BJK.
    | Fri, Jan. 8, 10:40 AM
  • Dec. 30, 2015, 2:43 PM
    • Gaming revenue in Nevada increased 7.8% to $944.27M in November.
    • Las Vegas Strip revenue was 5.4% higher at $535.6M. Downtown Las Vegas revenue soared 25% during the month.
    • VIP baccarat was down 14% to $110M as deflated high-roller traffic from Asia factored in again.
    • Gaming Control Board report
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD.
    • Related ETF: BJK.
    | Dec. 30, 2015, 2:43 PM | 3 Comments
  • Dec. 30, 2015, 9:24 AM
    • The elevated level of consolidation in the gaming sector is expected to continue in 2016 as companies look to scale up amid margin pressure.
    • Analysts think 888 Holdings (OTCPK:EIHDF) and William Hill (OTC:WIMHF, OTCPK:WIMHY) could rekindle their merger talks.
    • Betsson (OTCPK:BTSNF) is seen combining with Malta-based Unibet.
    • Mega-mergers are given a longer shot by analysts despite persistent chatter over Wynn Resorts (NASDAQ:WYNN), MGM Resorts (NYSE:MGM), and Las Vegas Sands (NYSE:LVS). Some names to watch for M&A buzz include Full House Resorts (NASDAQ:FLL), Amaya (NASDAQ:AYA), Tropicana Entertainment (OTCQB:TPCA), Entertainment Gaming (NASDAQ:EGT), Eldorado Holdings (NASDAQ:ERI), Ladbrokes (OTCPK:LDBKY), Boyd Gaming (NYSE:BYD), Isle of Capri (NASDAQ:ISLE), and Golden Entertainment (NASDAQ:GDEN). A wildcard in the mix is Caesars Entertainment (NASDAQ:CZR) which is mired in legal quagmire, but has some strong properties in its stable if it can clear bankruptcy intact.
    • Place your 2016 gaming merger bet in the comment stream.
    • Related ETF : BJK.
    | Dec. 30, 2015, 9:24 AM | 6 Comments
  • Dec. 28, 2015, 12:02 PM
    • A report out from JPMorgan indicates room rates on the Las Vegas Strip are on the rise.
    • The investment firm forecasts room rates out to the end of Q1 of 2016 to be up 8%.
    • Strong room rates are forecast for Caesars Entertainment (+17%), Las Vegas Sands (+13%), Wynn Resorts (+9%) - while room rates are seen as flat for MGM Resorts (NYSE:MGM) across properties.
    • Domestic traffic to Las Vegas Strip casinos has been stable this year, while high-roller baccarat traffic from Asia has dwindled.
    • Related stocks: LVS, WYNN, MGM, CZR, OTCQB:TPCA, BYD.
    | Dec. 28, 2015, 12:02 PM | 10 Comments
  • Dec. 24, 2015, 9:09 AM
    • Caesars Entertainment (NASDAQ:CZR) has won another chance to halt a series of lawsuits that threaten to put the company into bankruptcy after an appeals court ruled yesterday that two lower-court judges used faulty reasoning to deny CZR's request to temporarily halt the lawsuits.
    • The appeals court sent the issue back to the bankruptcy judge with instructions to first determine whether the lawsuits could have a negative impact on the bankruptcy before allowing the cases to proceed.
    • Creditors sued CZR, claiming it violated federal law when it abandoned a pledge to help the Caesars Entertainment Operating Co. unit repay $7B in debts, and the operating unit eventually filed for bankruptcy; if CZR loses the suits, which are all before the same New York judge, it also  could be forced into bankruptcy.
    | Dec. 24, 2015, 9:09 AM
  • Dec. 15, 2015, 1:03 PM
    • Caesars Entertainment (CZR -0.3%) could be in trouble due to what it says is a typo.
    • The company signed a debt agreement in 2008 in which three conditions for stripping assets away were listed. The last two conditions were separated by an "and" instead of the "or" that was the intent of Caesars.
    • A judge will have to find that the alleged typo led to an outright absurdity to reverse the contract.
    | Dec. 15, 2015, 1:03 PM | 1 Comment
Company Description
Caesars Entertainment Corp along with its subsidiaries is engaged in providing casino-entertainment and hospitality services. Its facilities include gaming offerings, food & beverage outlets, hotel & convention space, and non-gaming entertainment options.
Sector: Services
Country: United States