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Caesars Entertainment (CZR)

  • Thu, Apr. 9, 11:29 AM
    • Macau gaming companies continue to consider opportunities outside of the Chinese gambling mecca with other regions forecast to see strong growth.
    • Macau Resources Group and Sino Gaming/Macau Group are already in talks with regulators about new casinos in the Philippines, while Caesars Entertainment (CZR -0.2%) is also reportedly interested in the region.
    • Singapore, Vietnam, and Japan are all being considered for new long-term projects by various companies.
    • Casino stocks with a Macau presence are off and running today, despite more projections on dismal -36% to -40% Y/Y revenue slide for April.
    • Turning the spotlight on other Asian markets may be doing the trick.
    • Gainers: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY) +7.7%, MGM China (OTCPK:MCHVF, OTCPK:MCHVY) Wynn Resorts (NASDAQ:WYNN) +3.9%, Las Vegas Sands (NYSE:LVS) +3.3%, Melco Crown (NASDAQ:MPEL) +3.2%, Galaxy Entertainment (OTCPK:GXYEF) +2.9%, MGM Resorts (NYSE:MGM) +1.6%.
  • Tue, Mar. 31, 11:41 AM
    • Nevada gaming revenue fell 1.1% to $916.1M during February, according to figures released by the Gaming Control Board.
    • Las Vegas Strip casinos saw a 4.4% Y/Y decline to $531.3M during the month
    • A poor month for baccarat play was behind much of the tail-off in Las Vegas, although it's not clear if soft traffic or a dismal hold percentage was behind the drop.
    • The casino sector is seeing some buying action today on yet more REIT speculation.
    • Advancing stocks against a weak tape include Penn National Gaming (PENN +2.2%), Las Vegas Sands (LVS +1%), Wynn Resorts (WYNN +0.7%), Caesars Acquisition (CACQ +2.7%), Caesars Entertainment (CZR +3.4%), Boyd Gaming (BYD +0.7%), Century Casinos (CNTY +1%), Empire Resorts (NYNY +1.1%), and Pinnacle Entertainment (PNK +0.3%).
    • Full Nevada Gaming Control Board report (.pdf)
    • Previously: A warning on casino REITs (Mar. 28 2015)
    | Comment!
  • Sat, Mar. 28, 8:52 AM
    • The rush by the casino industry into REIT conversions could have a damaging long-term impact, warn casino industry analysts.
    • The "quick-buck" mentality to eliminate debt through the REIT play sets aside the difficulty down the road to get separate companies with different objectives to agree on needed capital expenditures on properties.
    • Buy-and-hold investors could get burned if REIT-touched casino properties lag peers due to the dueling C-suites.
    • A REIT cloud hangs over Pinnacle Entertainment (NYSE:PNK), Boyd Gaming (NYSE:BYD), MGM Resorts (NYSE:MGM), and Caesars Entertainment (NASDAQ:CZR) - while Gaming and Leisure Properties (NASDAQ:GLPI) already pulled the trigger.
  • Fri, Mar. 27, 7:43 AM
    • Nevada Gaming Commission Chairman Tony Alamo called the bankruptcy of Caesars Entertainment (NASDAQ:CZR) an "embarrassment" to the state in a meeting yesterday with execs from the company.
    • Though the regulators can't get directly involved in the bankruptcy case, Alamo noted the commission gets a "second bite" of the apple down the road as restructuring takes form.
    • Shares of CZR are -39% YTD amid the legal battling. Caesars Acquisition Company (NASDAQ:CACQ) is -37% over the same period.
    | 1 Comment
  • Thu, Mar. 26, 10:03 AM
    • Nevada and Delaware launched a multi-state online poker network this week in an effort to grow traffic.
    • The platform was built by 888 Holdings (OTCPK:EIHDF).
    • Caesars Entertainment (NASDAQ:CZR) has a hand in online poker through Caesars Interactive Entertainment and its WSOP property.
    • Online poker revenue in New Jersey, Nevada, and Delaware has disappointed over the last year.
    | Comment!
  • Tue, Mar. 17, 1:11 PM
    • The operating arm of Caesars Entertainment (CZR -4.6%) can void a number of deals as part of its bankruptcy.
    • The ruling from the judge in the case doesn't allow Caesars to escape some advertising and sponsorship contracts because the parties weren't give enough notice.
    • The bankruptcy proceedings have also weighed on Caesars Acquisition Company (CACQ -6.3%) which is a JV involving the parent company.
    • Most of the concerns focus on how far a court-appointed examiner can go in looking at transactions Caesars has made prior to the filing.
    | 1 Comment
  • Tue, Mar. 10, 2:49 PM
    • The push to legalize sports betting has a "tidal wave" of momentum behind it, according to some legal and gaming experts.
    • NBA commissioner Adam Silver publicly supports bringing sports betting off the black market, and other high-level sports execs say they are open to having discussions on the topic.
    • If legalized sports betting were to take off, companies with an edge on the technology front could carve up market share.
    • U.K. firm William Hill (OTC:WIMHF, OTCPK:WIMHY) now brings in 40% of its handle via mobile apps.
    • Though major casino operators such as Wynn Resorts (NASDAQ:WYNN), Caesars Entertainment (NASDAQ:CZR), and MGM Resorts (NYSE:MGM) face some risk of reduced Las Vegas traffic, they also have a branding advantage with potential bettors which can be leveraged.
    • Scientific Games (NASDAQ:SGMS) and Zynga (NASDAQ:ZNGA) appear poised to jump on the sports gambling scene as soon as legalities clear.
    • Even Comcast (NASDAQ:CMCSA) is on the periphery of sports betting through Comcast Ventures' property
  • Tue, Mar. 10, 8:00 AM
    • The casino industry is starting to make some noise about an IRS proposal to drop the reporting level of casino winnings to $600.
    • The IRS wants to lower the threshold on slots and bingo to $600 from $1,200.
    • Keno would be taken down to the $600 level from $1,500.
    • The new levels would create more work for gaming companies and could cut into hold rates as winners are slowed down.
    • Casino lobbyists plan to argue that the thresholds should be raised to adjust for inflation instead of dropped.
    • Previously: The IRS eyes casino winnings (Mar. 06 2015)
  • Fri, Mar. 6, 7:03 AM
    • The IRS is considering lowering the industry reporting level for casino winnings to $600 from $1,200.
    • Casino companies have 90 days to respond to the proposal from the tax agency.
    • A lowering of the reporting threshold would pile on extra costs for casinos, according to gaming officials.
  • Tue, Mar. 3, 10:09 AM
    | Comment!
  • 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.
    | 1 Comment
  • Mon, Mar. 2, 4:04 PM
    • Caesars Entertainment (NASDAQ:CZR): Q4 EPS of -$6.90 may not be comparable to consensus of -$1.65.
    • Revenue of $2.1B (+5.0% Y/Y) misses by $120M.
    • Shares -1.2%.
    • Press Release
    | Comment!
  • 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.
    | Comment!
  • 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.
    | Comment!
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Company Description
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.
Sector: Services
Country: United States