Caesars Entertainment Launches Sports Wagering in New Jersey and Mississippi
Sports Betting to Begin July 30 at Bally's, Wild Wild West, August 1 at Harrah's Atlantic City and Mid-August at Harrah's Gulf Coast, Horseshoe Tunica Following Supreme Court Decision Allowing Expansion
Caesars Casino & Sports App to Launch in New Jersey Prior to Start of Football Season; Available for Download Now
Caesars Sports Betting to be Powered by Scientific Games' OpenBet™ Technology
LAS VEGAS, July 30, 2018 /PRNewswire/ -- Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars") today announced that it will introduce sports betting into its Atlantic City, Gulf Coast and Tunica properties in July and August. The introduction of sports betting in these jurisdictions is the first step in Caesars Entertainment's plan to expand its sports betting offering following the Supreme Court's landmark PASPA ruling and the subsequent legalization of sports betting in New Jersey and Mississippi.
Caesars Entertainment is moving quickly to introduce initial facilities at its properties in New Jersey and Mississippi in July and August that enable customers to place bets. Over the course of the next nine months, Caesars Entertainment will be building out the facilities to create the same world-class sports betting experiences currently available at its properties in Nevada. Caesars Entertainment plans to quickly introduce mobile sports betting throughout New Jersey and on property in Mississippi on the Caesars Casino & Sports mobile app HERE. This will expand Caesars' existing online poker and online casino offerings in New Jersey. Caesars plans to introduce the mobile application in additional states when and if it becomes legal and economically attractive for Caesars to do so.
"The recent Supreme Court ruling allows us to expand our sports betting digital and mobile offerings into new markets," said Mark Frissora, President and Chief Executive Officer of Caesars Entertainment. "We recognize that our customers expect exciting new experiences, which is why we will continue to offer new products through our mobile and digital platforms and inside our properties."
Caesars is bringing industry-leading technology and dynamic on-property experiences to all of its guests through its collaboration with Scientific Games, a leading partner to the world's most powerful iGaming, iLottery and Sports Betting brands. Scientific Games' Digital division will power the Caesars properties with its OpenBet sportsbook technology. OpenBet will provide Caesars' players with intuitive and sleek solutions, enhancing the sports betting experience at the two venues and through digital platforms.
Barry Cottle, President and Chief Executive Officer at Scientific Games, said, "We're thrilled to partner with Caesars to help them bring best-in-class sports wagering experiences to their players. With OpenBet, our powerful and robust sportsbook platform, Caesars will have a truly open platform and end-to-end product suite that delivers the very best and flexible solutions and has proven success managing the largest share of the world's online bets, more than 2 billion online bets annually. Our SG Digital team is excited to help Caesars stay ahead of the game, as they work to expand their sports betting, digital and mobile offerings into newly regulated markets."
The sports betting offering will begin with facilities at Bally's, Wild Wild West on July 30 and Harrah's Atlantic City and August 1. Caesars plans to follow the retail openings with the introduction of mobile sports betting throughout New Jersey on the Caesars Casino & Sports mobile app. In Mississippi, sports betting locations are targeted to be available at Horseshoe Tunica and Harrah's Gulf Coast in mid-August, just in time for football season. Caesars has quickly mobilized to provide guests a new exciting gaming experience that sports fans can trust.
Caesars' sports betting offering is fully integrated with Total Rewards, allowing guests to earn and redeem rewards in the industry's leading loyalty program. Total Rewards allows players more ways to earn and redeem than any other program. More information on Total Rewards, including how to become a member, can be found at www.TotalRewards.com.
About Caesars Entertainment Corporation
Caesars Entertainment is the world's most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment's resorts operate primarily under the Caesars®, Harrah's® and Horseshoe® brand names. Caesars Entertainment's portfolio also includes the Caesars Entertainment UK family of casinos. Caesars Entertainment is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. Caesars Entertainment is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment. For more information, please visit www.caesars.com.
About Scientific Games
Scientific Games Corporation (NASDAQ: SGMS) is the global leader in technology-based gaming systems, table games, table products and instant games and a leader in products, services and content for gaming, lottery and interactive gaming markets. Scientific Games delivers what customers and players value most: trusted security, creative content, operating efficiencies and innovative technology. Today, we offer customers a fully integrated portfolio of technology platforms, robust systems, engaging content and unrivalled professional services. For more information, please visit www.scientificgames.com.
This release includes "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These forward-looking statements are based on current expectations about future events. Further, these statements contain words such as "will," "plan," "targeted," "continue" and "expect," or the negative or other variations thereof or comparable terminology. In particular, they include statements relating to Caesars' introduction of sports betting in New Jersey and Mississippi and Caesars' plans and strategy with respect to the sports betting opportunity in the United States.
Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified, and, consequently, the actual performance of Caesars Entertainment may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors, and other factors described from time to time in Caesars Entertainment's reports filed with the Securities and Exchange Commission (including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein):
Caesars' ability to respond to changes in the industry, particularly digital transformation, and to take advantage of the opportunity for legalized sports betting in multiple jurisdictions in the United States (which may require third party arrangements and/or regulatory approvals);
the effects of local and national economic, credit, and capital market conditions on the economy, in general, and on the gaming industry, in particular;
the effect of reductions in consumer discretionary spending due to economic downturns or other factors and changes in consumer demands;
the ability to take advantage of opportunities to grow Caesars' revenue;
the ability to effectively compete against Caesars' competitors;
the impact of Caesars' substantial indebtedness, including its impact on Caesars' ability to raise additional capital in the future and react to changes in the economy, and lease obligations and the restrictions in Caesars' debt and lease agreements;
the ability to access available and reasonable financing or additional capital on a timely basis, and on acceptable terms or at all, including Caesars' ability to refinance Caesars' indebtedness on acceptable terms;
the ability of Caesars' customer tracking, customer loyalty, and yield management programs to continue to increase customer loyalty and same-store or hotel sales;
changes in the extensive governmental regulations to which Caesars is subject, and (1) changes in laws, including increased tax rates, smoking bans, regulations or accounting standards, (2) third-party relations and (3) approvals, decisions, disciplines and fines of courts, regulators and governmental bodies;
compliance with the extensive laws and regulations to which Caesars is subject, including applicable gaming laws, the Foreign Corrupt Practices Act and other anti-corruption laws, and the Bank Secrecy Act and other anti-money laundering laws;
abnormal gaming holds ("gaming hold" is the amount of money that is retained by the casino from wagers by customers);
the effects of competition, including locations of competitors, growth of online gaming, competition for new licenses, and operating and market competition;
Caesars' ability to protect Caesars' intellectual property rights and damages caused to Caesars' brands due to the unauthorized use of Caesars' brand names by third parties in ways outside of Caesars' control;
acts of war or terrorist incidents (including the impact of the recent mass shooting in Las Vegas on tourism), severe weather conditions, uprisings, or natural disasters, including losses therefrom, losses in revenues and damage to property, and the impact of severe weather conditions on Caesars' ability to attract customers to certain of Caesars' facilities;
a disruption, failure, or breach of Caesars' network, information systems, or other technology, or those of Caesars' vendors, on which Caesars is dependent;
risks and costs associated with protecting the integrity and security of internal, employee and customer data.
Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. Caesars Entertainment disclaims any obligation to update the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated or, if no date is stated, as of the date of this release.