Caesars Entertainment
Caesars Sportsbook and NYRA Bets Launch the Caesars Racebook App in Florida and Ohio
Horse racing fans in Florida and Ohio can now enjoy a best-in-class horse racing experience in the palm of their hands. Caesars Sportsbook, a division of Caesars Entertainment, Inc.(“Caesars”), and NYRA Bets LLC (“NYRA Bets”), the official online wagering platform of the New York Racing Association, Inc. (“NYRA”), today announced the new horse racing account wagering app, Caesars Racebook, is officially live in Florida and Ohio with plans to add additional states throughout the year.
Now available for download on iOS, Caesars Racebook utilizes the NYRA Bets platform providing bettors with pari-mutuel wagering on premier horse racing content from more than 250 tracks around the world with betting on marquee tracks in the United States and internationally. The wagering menu includes Belmont Park, Saratoga Race Course, Del Mar, Santa Anita, Keenelandas well as Caesars operated tracks Harrah’s Hoosier Park, Horseshoe Indianapolis, Harrah’s Philadelphia, and Eldorado Gaming Scioto Downs. New customers registering for Caesars Racebook will be eligible for a 100% first deposit match up to $500.
Similar to the Caesars Sportsbook app, Caesars Racebook integrates the industry-leading loyalty program Caesars Rewards to offer bettors a chance to earn exclusive experiences with every wager placed.
“The launch of Caesars Racebook is an important milestone as we continue to add wagering opportunities for our customers and livestreaming content for the first time,” said Dan Shapiro, Senior Vice President and Chief Development Officer of Caesars Digital. “Caesars Racebook is truly differentiated as the first horse racing advance deposit wagering app to include our award-winning Caesars Rewards loyalty program. We look forward to welcoming new horse racing customers and existing fans onto the platform and to working with NYRA Bets to grow horse racing as we deploy Caesars Racebook with plans to launch in about 30 states across the country.”
The partnership enables Caesars to further expand into horse racing, which generated $12.2 billion in pari-mutuel wagering handle in 2021. Caesars Racebook players can enjoy all the additional benefits of NYRA Bets, including race replays, handicapping insights, and more. NYRA Bets, the fastest-growing national advance deposit wagering platform features a secure, state-of-the-art wagering platform that allows its customers to conveniently and securely watch and wager on horse races.
“The new Caesars Racebook app, which utilizes the NYRA Bets interface and technology, will expand access to world-class horse racing now and in the future,” said Matt Feig, General Manager of NYRA Bets. “The partnership between NYRA Bets and Caesars is a win for horse racing, its stakeholders and countless racetracks around the world.”
As a longtime supporter of horse racing, Caesars is the proud host of the National Thoroughbred Racing Association’s National Handicapping Championship at Horseshoe Las Vegas and has announced plans to build and operate a Harrah’s racetrack and casino in Columbus, Nebraska.
The launch of Caesars Racebook is a momentous step in the partnership between NYRA Bets and Caesars Sportsbook. In January, Caesars Sportsbook and NYRA unveiled a partnership establishing Caesars as an official sports betting marketing partner in New York and the title sponsor of the NYRA Turf Triple Series at Belmont Park and Saratoga Race Course.
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Brownstein Hyatt Farber and Schreck LLP
Caesars Entertainment Closes Sale of the LINQ Promenade
Caesars Entertainment announced the closing of the previously announced sale of the LINQ Promenade to a joint venture formed between TPG Real Estate (TPG) and the Investment Management Platform of Acadia Realty Trust (Acadia) for $275 million. Concurrent with the closing of the transaction, Caesars made a $275 million voluntary prepayment of the Term Loan B due 2030 with the proceeds from the transaction.
Latham & Watkins LLP and Brownstein Hyatt Farber and Schreck LLP represented Caesars on the transaction. Kirkland & Ellis LLP provided transaction counsel to TPG & Acadia.
Caesars Entertainment
Caesars Entertainment Enters into Definitive Agreement to Sell the LINQ Promenade
Caesars Entertainment has announced that it has entered into an agreement to sell the LINQ Promenade to a joint venture to be formed between TPG Real Estate (TPG) and the Investment Management Platform of Acadia Realty Trust (Acadia) for $275 million. The sale is subject to customary approvals and other closing conditions and is expected to close during the fourth quarter 2024.
“The sale of the LINQ Promenade represents an accretive, non-core asset sale that will accelerate our debt reduction goals. I want to thank all the team members and the tenants of the LINQ Promenade for their partnership over the last 10 years and wish them continued success,” said Tom Reeg, CEO of Caesars Entertainment.
Latham & Watkins LLP and Brownstein Hyatt Farber and Schreck, LLP represented Caesars on the transaction. Kirkland & Ellis LLP provided transaction counsel to TPG & Acadia.
Caesars Entertainment
Caesars Entertainment Closes Sale of World Series of Poker® Brand to NSUS Group for US$500 million
Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars”) today announced the closing of the previously announced sale of its intellectual property rights for the World Series of Poker® (“WSOP”) brand to NSUS Group Inc. (“NSUS”). As previously disclosed, the transaction includes US$250 million in cash and a $250 million promissory note due five years after the transaction’s closing secured by the WSOP intellectual property assets being sold.
Caesars retains the right from NSUS to host the flagship WSOP live tournament series at its Las Vegas casinos for the next 20 years and will receive a license from NSUS to continue operating its recently upgraded WSOP Online real-money poker business in Nevada, New Jersey, Michigan, and Pennsylvania for the foreseeable future but will otherwise be restricted from operating online peer-to-peer real-money poker operations for a specified period of time and subject to certain exceptions. In addition, brick-and-mortar poker rooms currently operated by Caesars will continue to feature WSOP branding, and Caesars destinations will continue to enjoy preferential rights to host live WSOP Circuit events going forward.
Concurrent to the transaction, several long-time WSOP executives will transition to key leadership roles within the NSUS team. Ty Stewart will serve as Chief Executive Officer of the newly formed WSOP subsidiary, while Gregory Chochon has accepted the position of Chief Operating Officer. Erik Eidissen also joins as Communications Manager. With more than 30 years of combined experience managing the WSOP brand, these employees will lead the next phase of growth and integration under new ownership.
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