Tue, Mar. 3, 10:09 AM
- Caesars Entertainment (CZR -5.6%) and Caesars Acquisition Company (CACQ -6%) both trade lower after earnings were reported yesterday.
- Investors don't seem to be dazzled by the cost-savings initiatives stressed by Caesars management and the overall tone during the conference call yesterday.
- A question on if Caesars could raise RevPAR through higher resort fees was met with a "we don't know" response.
- Some growing pains with the Linq complex and new Wheel attraction were also cited during the call.
- Caesars Entertainment earnings call transcript
- Previously: Caesars Acquisition EPS of $0.01 (Mar. 02 2015)
- Previously: Caesars Entertainment EPS of -$6.90 (Mar. 02 2015)
- Previously: Debt load keeps Caesars Entertainment in the red (Mar. 02 2015)
Mon, Mar. 2, 4:28 PM
- Caesars Entertainment (NASDAQ:CZR) reports casino revenue rose 1.6% to $1.371B in Q4.
- The $402M loss was spread across the CEOC ($102M), CERP ($122M), and CGP LLC ($208M) businesses with the parent company chipping in with a $30M profit during the period.
- Start-up costs for new casinos and a below-par hold percentage at Caesars Palace were a drag on profit in the quarter.
- CZR -4.81% after hours.
Mon, Mar. 2, 4:04 PM
Sun, Mar. 1, 5:35 PM
Sat, Feb. 28, 11:57 AM
- Casinos in Nevada saw a 7.75% increase in revenue to $953M during January, according to the Gaming Control Board.
- Revenue on the Las Vegas Strip - dominated by MGM Resorts (NYSE:MGM), Caesars Entertainment (NASDAQ:CZR), and Wynn Resorts (NASDAQ:WYNN) - was up 15.4% Y/Y during the month.
- Total revenue in Atlantic City rose 1% Y/Y in Jan. - although the tally improves to +19% if shuttered casinos are backed out.
- Analysts say improved employment rates in the U.S. and lower gas prices ($2.04 avg in Jan.) helped to drive traffic, although an unusually high baccarat hold percentage in LV also played a factor there.
- But perhaps the biggest driver of the Vegas momentum was the higher RevPAR churned up by hotels (see MGM's Q4) and a meaningful increase in convention business.
- The strong attendance around the Consumer Electronics Show bodes well for major 2015 conventions, notes Macquarie Securities.
- Earlier in the week, a strong report from Isle of Capri (NASDAQ:ISLE) helped to give a boost to regional casino stocks. Regionals have seen a steady increase in traffic over the last 6 months, although capacity concerns still impact some regions.
- Previously: Regional casino stocks get a look as trends improve (Feb. 25)
- Related casino industry stocks: NYNY, FLL, DDE, OTCQB:TPCA, CHDN, CNTY, PNK, BYD, SGMS, OTCPK:AMYGF, CACQ, PENN, MCRI
Fri, Feb. 27, 10:01 AM
- The Nevada Gaming Commission says it allow betting on Olympic events in the state.
- The development could bring in more traffic to Las Vegas during the Brazil Olympics next summer from August 5 to August 21.
- Private sports books operator William Hill could see a benefit through its ownership of more than 100 outlets in Nevada. MGM Resorts (NYSE:MGM), Caesars Entertainment (NASDAQ:CZR), and Wynn Resorts (NASDAQ:WYNN) will also welcome the Olympics action.
- What to watch: Gaming companies are likely to keep pushing the envelope on what bettors in Nevada can take action on - including entertainment and political events. Categories such as the Oscars, American Idol, and elections could broaden the betting demographic.
Fri, Feb. 27, 7:20 AM
- Caesars Entertainment (NASDAQ:CZR) unloaded a 20% interest in three casinos in Ohio to Rock Gaming.
- The company will continue to manage the properties which are outside of Caesars' bankruptcy proceedings.
- Terms of the deal weren't disclosed.
- Shares of CZR are -31.2% YTD amid the legal wrangling over the parent company and operating unit.
Wed, Feb. 25, 1:05 PM
- Regional casino stocks are out ahead of market averages after Isle of Capri (ISLE +13.6%) shows strong revenue growth.
- The company's results have some broad implications with its properties spread across Colorado, Florida, Iowa, Louisiana, Mississippi, Missouri, and Pennsylvania.
- Gainers: Caesars Entertainment (NASDAQ:CZR) +3.3%, Penn National Gaming (NASDAQ:PENN) +1.4%, Boyd Gaming (NYSE:BYD) +2.2%, Pinnacle Entertainment (NYSE:PNK) +1.1%, Dover Downs Gaming & Entertainment (NYSE:DDE) +0.9%, Churchill Downs (NASDAQ:CHDN) +1.0%.
- Casino supplier Scientific Games (SGMS +1.4%) is also up on the day.
- Previously: Isle of Capri beats by $0.11, beats on revenue
- Previously: Isle of Capri shows strength across properties in Q4
- Related ETF: BJK.
Mon, Feb. 23, 6:59 AM
Fri, Feb. 13, 1:23 PM
- The Borgata (MGM, BYD) announces it will offer a skills-based basketball competition after landing approval from New Jersey regulators.
- Casino visitors can enter a basketball free-throwing shooting contest in a poker-style tournament that pays off a majority of the pot to the last few survivors.
- The contest is even open to professionals.
- The development in Atlantic City follows news from earlier this week on pending legislation in Nevada proposing to allow video game contests in casinos.
- What to watch: An apathetic attitude by millennials toward slot machines and video poker is partially behind the innovation push in the casino sector.
- Related stocks: CZR, WYNN, SGMS, ISLE, PNK, PENN, MCRI, CNTY, IGT.
- Related ETF: BJK.
Mon, Feb. 9, 7:21 AM
- A state senate bill floating around in Nevada proposes to allow more games of skill than chance on the floors of casinos in the state.
- A passage of the bill could set off a flood of new casino games based off of popular videogames.
- Videogames at casinos are seen as a way to draw in more of the 75M millennials who as a group have shied away from slot machines and games of blind luck.
- The potential also exists to introduce gambling through apps for games in Nevada and create cash tournaments online.
- Related stocks: LVS ,CZR, BYD, MGM, WYNN, SGMS, ATVI, TTWO, EA.
Thu, Feb. 5, 1:24 PM
- The Restoration of America's Wire Act bill was re-introduced in Congress this week.
- Supporters of the bill, which aims to ban online gambling, are testing the new climate in D.C. with the introduction.
- Nevada, New Jersey, and Delaware are the only states to have established online gambling since the DOJ decision of 2011 on the issue.
- Related stocks: OTCQB:TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MCRI, ISLE, CNTY, IGT.
- Related ETFs: BJK
Wed, Feb. 4, 6:19 PM
- Caesars Entertainment (NASDAQ:CZR) selects former Hertz CEO Mark Frissora as its CEO-designate, joining the company immediately in that capacity and fully taking the position on July 1.
- Current CEO Gary Loveman will step down June 30 after 12 years at the helm and remain Chairman; he will continue to oversee the restructuring of the company’s largest division, Caesars Entertainment Operating, which filed for bankruptcy protection last month.
Mon, Feb. 2, 10:46 AM
- Baccarat revenue in Las Vegas fell 11% during Q4 in a trend that is disturbing for casinos in the region.
- Though the house edge on baccarat is lower than some other table games (1.20% vs. 1.58% for Craps), the game is a significant profit driver due to the high stakes played by some Asian tourists.
- Casinos will dial up promotions if the weak high-stakes baccarat traffic continues.
- Previously: Weak report on Las Vegas revenue trips up gaming sector (Jan. 30 2015)
- Las Vegas casino stocks: LVS ,CZR, BYD, MGM, WYNN.
Fri, Jan. 30, 11:19 AM
- A report from the Nevada Gaming Control Board indicates revenue in the state fell 8.08% Y/Y in December.
- Revenue from Las Vegas Strip casinos was off 16% during the month.
- Analysts noted the month posed a tough compare, but were still caught off-guard.
- The negative report appears to be impacting sentiment across the gaming sector, although some other factors are also in play.
- Casino stocks:CZR -4.4%, CACQ -4.3%, ISLE -2.7%, NYNY -3.9%, UWN -1.6%, CNTY -1.8%, MCRI -2.2%, CHDN -1.5%, PNK -0.3%, MGM -3%, WYNN -2.5%.
Thu, Jan. 29, 2:45 AM
- Despite ruling that Caesars' (NASDAQ:CZR) bankruptcy case should proceed in Chicago, Judge Kevin Gross had plenty of harsh words to say over the asset transfers that were executed before the casino company’s largest unit was put into bankruptcy.
- The judge described creditors’ allegations as "serious," and that the alleged "series of self-dealing transactions" will be "under a magnifying glass" in Chicago.
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.
Other News & PR