Fri, May 15, 4:07 PM
- Senate Bill 9 has been passed by both legislative chambers in Nevada, clearing the way for skills-based casino floor games.
- The development also opens a door for videogame sellers to create or license casino versions of their popular titles.
- The casino industry has its eyes on attracting millennials after seeing the group show tepid demand for classic table games and slot machines.
- New Jersey and Mississippi have also set the stage for casino floor innovation with similar legislation.
- Previously: Paging Steve Nash to the Borgata (Feb. 13)
- Related stocks: CZR, WYNN, SGMS, ISLE, PNK, PENN, MCRI, CNTY, IGT, MGM, BYD, OTCQB:TPCA, ATVI, TTWO, EA.
- Related ETFs: BJK
Tue, May 12, 12:51 PM
- Senator Harry Reid says he will consider supporting a full ban of online gaming in the U.S. if he can't carve out an exemption for poker.
- Currently, there is a bill floating around the House of Representatives that stands a decent chance of making it to the Senate this year.
- Most casino operators support online gaming due to the strength of their brand, although a notable exception is Las Vegas Sands (NYSE:LVS) with outspoken CEO Sheldon Adelson.
- A federal ban on online gaming could also have implications for the growing online sports fantasy games industry which has steered clear of tight regulatory review so far.
- Related stocks: MGM, WYNN, CZR, OTCPK:EIHDF, OTCPK:AMYGF, SGMS, BYD, IGT, ZNGA, OTCPK:PYGMF, CHDN.
Tue, May 12, 8:59 AM| Comment!
Thu, May 7, 10:30 AM
- Caesars International (CZR +7.1%) trades higher after reporting results for a quarter impacted by the operating unit's bankruptcy filing.
- New properties in Las Vegas and Baltimore helped bring up the consolidated results for the units.
- Cost-cutting and gains in food/beverage margins also factored into the bottom line.
- Previously: Caesars Entertainment EPS of $52.06 (May 6)
Wed, May 6, 4:24 PM
Tue, May 5, 5:35 PM
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Tue, May 5, 3:27 PM
- Caesars Entertainment (NASDAQ:CZR) has filed a monthly report with the bankruptcy court for its operating unit.
- Net revenue of $346.2M and operating expenses of $418.1M were reported for the month.
- The balance sheet is the central focus of the bankruptcy with the company looking to eliminate a sizable portion of the listed debt.
- SEC filing
Thu, Apr. 30, 2:35 PM
- Caesars Entertainment (CZR +1%) was given a short extension to file its restructuring plan by the judge overseeing the case.
- The company has until May 27 to file its plan after asking for a deadline of November 15.
- Shares of CZR have stayed under $10 since the casino holding company filed notice with the SEC that debt talks with creditors have stalled.
- Previously: No debt deal between Caesars Entertainment and bankers (April 20)
- Previously: Caesars slumps again with debt talks stalled (April 21)
Wed, Apr. 29, 12:09 PM
- Gaming revenue fell 3.15% to $951.25M during March, according to the latest report from the State Gaming Control Board.
- The Las Vegas Strip saw a sales decline of 9.58% during the month.
- Fiscal YTD LV Strip revenue is -4.81%.
- Last night, Steve Wynn gave a bleak assessment of demand in Las Vegas during the Wynn Resorts earnings call.
- Gaming Control Board report (.pdf)
- Wynn Resorts conference call transcript
- Related stocks: Caesars Entertainment (CZR -0.7%), Penn National Gaming (PENN -2%), Wynn Resorts (WYNN -16.1%), MGM Resort (MGM -4.9%), Boyd Gaming (BYD -0.6%), Tropicana Entertainment (OTCQB:TPCA).
Thu, Apr. 23, 2:30 PM
- A casino bill in Japan could be submitted during the current parliamentary session, according to Union Gaming Research.
- The session is scheduled to end on June 24.
- Even if Japanese legislators are able to work out a bill this year, it will take a second action in 2016 to sort out licenses, locations, and the all-important question on whether or not local citizens will be allowed to gamble.
- Tokyo hosts the 2020 Summer Olympics which is seen as a possible revenue bonanza for the gaming industry.
- Related: Mohegan Sun to gamble in South Korea (April 22)
- Potential Japan casino players: MGM Resorts (NYSE:MGM), Caesars Entertainment (NASDAQ:CZR), Wynn Resorts (NASDAQ:WYNN), Genting, Las Vegas Sands (NYSE:LVS), Melco Crown (NASDAQ:MPEL).
Tue, Apr. 21, 1:34 PM
- Caesars Entertainment (CZR -3.8%) and Caesars Acquisition Company (CACQ -4%) slide again as concerns mount over debt negotiations with lenders.
- The holding company has until May 15 to file a bankruptcy plan for its operating unit.
- The share price decline today in CZR and CACQ is more pronounced than the sector average.
Mon, Apr. 20, 2:00 PM
- A top lawmaker in New Jersey says there is an 85% to 90% chance a circuit court will give a ruling that paves the way for sports betting to be legalized in New Jersey.
- A decision on the 2014 Sports Wagering Law from U.S. District Judge Michael Shipp is expected on June 26.
- The battle for legalized sports betting in New Jersey pits Governor Chris Christie on the pro side against major sports leagues which oppose the measure.
- The state has eyes on the $3.9B in revenue Nevada raked in from sports betting last year.
- Caesars Entertainment (NASDAQ:CZR), MGM Resorts (NYSE:MGM), and Boyd Entertainment (NYSE:BYD) are the gaming companies with the largest presence in New Jersey, although legalized sports betting could bring in all kinds of new tech/gaming partnerships.
- Previously: Momentum builds for legalized sports betting (Mar. 10 2015)
Mon, Apr. 20, 12:47 PM
Mon, Apr. 20, 9:56 AM| 2 Comments
Wed, Apr. 15, 3:49 PM| 1 Comment
Wed, Apr. 15, 8:09 AM
- Online casinos and poker websites took in $13.16M in March to set a monthly record for the industry.
- Borgata (MGM, BYD) brought in over $4M for the month to lead the pack.
- A partnership between Caesars Entertainment (NASDAQ:CZR) and 888 Holdings (OTCPK:EIHDF) recorded revenue of $2.82M during the month.
- Online casino and poker growth in New Jersey has fallen short of many early estimates.
- Total revenue by operator since launch: Borgata $59.76M, Caesars/888 Holdings $43.29M, Tropicana/Virgin $31.55M, Golden Nugget $25.55M, Resorts AC $204.98K.
CZR vs. ETF Alternatives
Caesars Entertainment Corpalong with its subsidiaries is engaged in providing casino-entertainment and hospitality services. Itsfacilities include gaming offerings, food & beverage outlets, hotel & convention space, and non-gaming entertainment options.
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