Caesars Entertainment
Caesars Entertainment Opens Two State-of-the-Art Caesars Sportsbook Locations and a Brand-New World Series of Poker Room in Louisiana
An exciting new era of sports betting and poker play was ushered in this week with the grand openings of spectacular spaces at two Louisiana-based casinos. Part of Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars”), Harrah’s New Orleans and Horseshoe Bossier City Hotel & Casino each made history by opening state-of-the-art Caesars Sportsbook locations at their resorts. In addition, Harrah’s debuted the largest poker room in Louisiana with its grand opening of the new World Series of Poker Room.
“This was a special week for Caesars and our longstanding commitment to Louisiana,” said Dan Real, Regional President, Caesars Entertainment. “The opening of our world-class Caesars Sportsbook locations and the new World Series of Poker® Room add to the legacy that Harrah’s New Orleans and Horseshoe Bossier City have built in the Gulf Coast region. We’re ready to welcome sports fans into our sportsbooks, and we’re proud to open the largest poker room in Louisiana, true to the WSOP brand and what it represents.”
To commemorate these openings, Caesars held two ceremonial events inside Harrah’s and Horseshoe this week, each featuring a ribbon-cutting and ceremonial first bet.
In New Orleans, Archie and Cooper Manning joined Pro Football Hall of Famer and former New Orleans Saint Rickey Jackson, local dignitaries, and Saints Superfan Leroy Mitchell Jr., better known as “Whistle Monsta,” to open the new sportsbook and poker room. Jackson placed the ceremonial first bet with his $1,000 wager on the Saints to win the Super Bowl at 40/1 odds and any possible winnings benefitting the United Negro College Fund (UNCF). In Bossier City, Caesars Sportsbook opened in grand fashion with Mayor Tommy Chandler cutting the ribbon ahead of a massive ceremonial first bet of $200,000, placed by a VIP and well-known guest.
Harrah’s New Orleans now boasts a 5,700-square-foot sportsbook with four betting windows, 12 self-service betting kiosks, a 147-foot video screen, and a state-of-the-art, high-powered audio system adjacent to the 5,000-square-foot World Series of Poker Room featuring 20 poker tables. The openings mark another phase in the ongoing $325 million transformation of Harrah’s New Orleans into Caesars New Orleans, which is expected to be completed by 2024.
Horseshoe Bossier City’s new Caesars Sportsbook further cements its status as the foremost entertainment destination in northwest Louisiana. The more than 6,900-square-foot space features three betting windows, 15 self-service betting kiosks, more than 94 TVs with a state-of-the-art, high-powered audio system, a VIP viewing section, and a massive bar.
“These incredible openings are a testament to Louisiana residents, our Team Members and the guests who visit these historic resorts,” said Eric Hession, President of Caesars Digital. “We truly feel like we’re part of the home team in Louisiana, and we take pride in serving the great customers and sports fans in the state. From our Caesars Sportsbook app to our retail sportsbooks and now our elevated World Series of Poker Room, we embrace the opportunity to provide guests with even more unforgettable experiences.”
Caesars remains committed to investing hundreds of millions of dollars to provide unequaled sports and entertainment experiences throughout Louisiana. This commitment will see Isle of Capri Lake Charles transform into Horseshoe Lake Charles, which will reopen with a new Caesars Sportsbook location in the coming months.
In addition to in-person wagering at these properties, the easy-to-navigate Caesars Sportsbook app features improved performance with a focus on speed, ease of use, and intuitive features to make getting a bet down easier than ever. Bettors can take advantage of additional ways to deposit funds, faster payouts, live scoreboards, and expanded in-play betting options, as well as same-game parlays, new cashout functionality, and more ways to wager with thousands of additional markets.
Eligible sports fans in select Louisiana parishes can download the app on iOS or Android, register, and deposit funds to take advantage of a new special sign-up offer for first-time users:
- The Full Caesar
- Sign up using promo code CZRFULL, deposit, and place your first bet of $10 or more, receive:
- An additional 1,000 Tier Credits and 1,000 Rewards Credits
- If that first bet isn’t a winner, also receive:
- One free bet equal to the amount of your first wager up to $1,250
- Sign up using promo code CZRFULL, deposit, and place your first bet of $10 or more, receive:
Both online and in-person, Caesars Sportsbook integrates the industry-leading loyalty program, Caesars Rewards. Every bet placed rewards the bettor with Tier Credits for status and Reward Credits that can be used to unlock unbeatable experiences within the Caesars portfolio of properties and partnerships.
Caesars has local partnerships with the New Orleans Saints, New Orleans Pelicans, LSU Athletics, and a historic 20-year, exclusive naming rights deal with the Saints for the Caesars Superdome, the future home of Super Bowl LIX in 2025.
Caesars is an industry leader in responsible gaming with a decades-long commitment to responsible gaming practices. As Caesars Sportsbook continues to expand into new markets, responsible gaming education remains a key emphasis, and customers in Louisiana can directly access responsible gaming resources through Caesars Sportsbook’s work with regulators and the community. In addition, the Caesars Sportsbook app has best-in-class tools in place to prevent problem gambling, including Deposit Limits, Spending Limits, Daily Time Limits, and Cool Off Time Limits.
For real-time industry updates and to join the empire of like-minded Caesars, players can engage with the Caesars Sportsbook social handle @CaesarsSports on Twitter, Instagram and Facebook.
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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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