Caesars Entertainment Corp (CZR)

[Norton1973]

CZR, Caesars...Caesars Sportsbook launches with awesome $5,000 bonus | amNewYork
https://www.google.com/amp/s/www.amny.com/sports/caesars-sportsbook-launches-with-awesome-5000-bonus/amp/

Posted By Brad Allen on August 4, 2021

Caesars pledged to invest $1 billion in its digital business over the next two and a half years, as it seeks to climb into the top-tier of US sports betting.

The company relaunched its Caesars Sportsbook on Monday on new technology following the William Hill acquisition.

On Tuesday, CEO Tom Reeg said the entire organization was ready to “lean into the vertical.”

Caesars going big on sports betting

That effort includes major investment, a nationwide marketing campaign, and a frontline worker effort.

“We are activating the entire enterprise,” Reeg said at the company’s Q2 earnings.

“We are activating our player development teams across the organization to sign up new accounts. We’ve got 54,000 salespeople in our company that work with customers every day that can open accounts.”

Invest big to win big?

Reeg said the digital business at maturity could generate $500 million to $1 billion EBITDA a year.



Caesars Entertainment CEO on earnings, outlook and launching sportsbook

Tom Reeg, Caesars Entertainment CEO, joins CNBC’s “Squawk on the Street” to discuss the gaming company’s latest earnings results. Caesars reported earnings of 34 cents per share, beating analysts’ estimates by 52 cents, and revenue of $2.5 billion, also beating expectations. The company attributed its growth to a strengthening of the Las Vegas market as well as continued strength in regional markets.

WED, AUG 4 202111:18 AM EDT