caesars entertainment

/Tag: caesars entertainment

caesars entertainment

Caesars Entertainment to Sell Rio All-Suite Hotel & Casino to Company Controlled by a Principal of Imperial Companies for $516.3M

Caesars Entertainment | September 23, 2019

LAS VEGAS, Sept. 23, 2019 -- Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars" or "Caesars Entertainment"), one of the world's most diversified casino-entertainment providers, today announced it has signed an agreement to sell the Rio All-Suite Hotel & Casino (the "Rio") to a company controlled by a principal of Imperial Companies (the "Buyer") for $516.3 million, which implies a strong sales price to EBITDA multiple. Under the terms of the agreement, Caesars will continue to operate the property pursuant to a lease for a minimum of two years and pay annualized rent of $45 million. The Buyer has the option to pay Caesars $7 m...

Runtriz Pay Brings Caesars’ Guests Fast, Secure and Simple Payment So They Can Stay in the Game

Caesars Entertainment | March 14, 2019

Los Angeles, CA (March 14, 2019) – Continuing to distance themselves from the competition, Caesars Entertainment (NASDAQ: CZR) properties in Las Vegas have expanded their partnership with Runtriz™ to launch Runtriz Pay, an innovative new payment service for guests. The use of credit card payment via Runtriz Pay is designed to optimize F&B revenue, efficiency, and guest experience. Runtriz, the hospitality industry's leading developer of mobile solutions, powers the hotel experience in the Caesars Rewards App, which offers an array of services both pre-arrival and during the guest's stay in Las Vegas. With Runtriz Pay, gu...

Caesars Entertainment CEO Mark Frissora to Leave Company

Caesars Entertainment | November 5, 2018

LAS VEGAS, Nov. 5, 2018 -- Caesars Entertainment Corporation (NASDAQ: CZR) today announced that President and Chief Executive Officer Mark P. Frissora is leaving the Company, having led a successful operational and financial transformation and established a platform for future growth. To support a seamless transition, Mr. Frissora will remain in his current role until February 8, 2019. The four members of the Compensation and Management Development Committee as well as the Chairman of the Board will work with a nationally recognized search firm to identify Mr. Frissora's successor. "The Board of Directors thanks Mark for his instrumenta...

Caesars Entertainment to Embark on $90 Million Renovation of 1,270 Rooms at Flamingo Las Vegas

Caesars Entertainment Corporation | May 18, 2017

LAS VEGAS, May 18, 2017 -- Caesars Entertainment Corporation (NASDAQ:CZR) ("Caesars Entertainment") today announced that, as part of its continued commitment to providing guests with the best possible experience, the company will be launching a $90 million complete renovation of 1,270 rooms at Flamingo Las Vegas. The renovation will begin in late August 2017, with the first guest arrivals expected in November 2017, and final completion of all rooms expected in the second quarter of 2018. "Flamingo Las Vegas is an iconic resort filled with 70 years of rich history and unforgettable experiences," said Bob Morse, Presid...

Caesars Entertainment Reports Q1 2017 Net Revenues Increased 1.4% YOY to $963 Million and a Net Loss of $524 Million Compared to $274 Million Q1 2016

Caesars Entertainment | May 3, 2017

LAS VEGAS, May 2, 2017 -- Caesars Entertainment Corporation (NASDAQ: CZR) today reported first quarter of 2017 results as summarized in the discussion below, which highlights certain GAAP and non-GAAP financial measures on a consolidated basis. First Quarter 2017 Net revenues for CEC increased 1.4% year-over-year to $963 million primarily attributable to strong growth in the Las Vegas region due to improved hotel performance. Net loss for CEC, before including the effect of noncontrolling interest, was $524 million compared with a net loss of $274 million in the first quarter of 2016 mainly due to a $466 million accrual related to th...

Ruben Sigala Appointed Chief Marketing Officer of Caesars Entertainment

Caesars Entertainment Corporation | December 22, 2016

LAS VEGAS, Dec. 22, 2016 -- Caesars Entertainment Corporation (Nasdaq: CZR) ("Caesars Entertainment" or "Caesars" or "Company") today announced that Ruben Sigala has been appointed Chief Marketing Officer (CMO), effective immediately, concluding an internal and external search. Sigala had been serving as the company's interim CMO since the end of May 2016, and the CMO appointment is subject to regulatory approval. Mark Frissora, Caesars Entertainment's President and Chief Executive Officer, said: "During his 11-year career with the company, Ruben Sigala has led Analytics, Pricing, Yield and Rev...

Caesars Entertainment Reports Financial Results for the Second Quarter 2016

Caesars Entertainment | August 3, 2016

LAS VEGAS, Aug. 2, 2016 -- Caesars Entertainment Corporation (NASDAQ: CZR) today reported second quarter 2016 results as summarized in the discussion below, which highlights certain GAAP and non-GAAP financial measures on a consolidated basis. Highlights Net revenues for Continuing CEC increased 7.8% year-over-year to $1.2 billion primarily attributable to strength in Caesars Interactive Entertainment's ("CIE") social and mobile games business and growth in hospitality revenues in Las Vegas. Net loss for Continuing CEC was $2.0 billion compared to net income of $50 million in the second quarter of 2015 and was largely d...

Caesars to Enhance and Upgrade More than 5,700 Rooms in 2016 at Four Las Vegas Resorts and Three Regional Resorts

Caesars Entertainment Corporation | March 10, 2016

LAS VEGAS, March 9, 2016 -- Caesars Entertainment Corporation (NASDAQ: CZR) announced plans to upgrade more than 4,800 hotel rooms this year at four of its Las Vegas resorts, and more than 900 rooms at three regional casinos totaling more than 5,700 owned or managed rooms across the enterprise. This renovation effort represents approximately 20% of rooms in Las Vegas and 15% of total rooms throughout the company. At the end of 2016, following the completion of this series of room renovations, Caesars Entertainment will have updated more than 10,000 hotel rooms in the last three years. These resort upgrades include the transformation of ...

As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.