Key Developments: Caesars Entertainment Corp (CZR.O)
13.63USD
18 Jun 2013
$-0.12 (-0.87%)
$13.75
$13.83
$13.99
$13.53
329,494
752,976
$18.37
$4.52
Latest Key Developments (Source: Significant Developments)
Caesars Entertainment Corp And Alliance Data Systems Corp's Retail Services Business Sign New Multi-Year Co-Brand Credit Card Agreement
Caesars Entertainment Corp announced that it is partnering with Alliance Data Systems Corp's Retail Services Business, provider of loyalty and marketing solutions, to launch a new Total Rewards credit card, providing another way for the loyalty program's members to earn credit in the loyalty program. In partnership with Caesars, Alliance Data will launch the Total Rewards Visa co-brand credit card, enabling cardholders to accelerate their earnings through Total Rewards program for purchases made at Caesars' resorts as well as on all other purchases made with the card outside of Caesars locations. Full Article
Caesars Entertainment Corp Appoints Donald Colvin as Chief Financial Officer
Caesars Entertainment Corp announced that Donald Colvin will join the Company as Executive Vice President and Chief Financial Officer. In this role, Colvin will be responsible for Caesars' finance functions and report to Gary Loveman, Chairman, President and Chief Executive Officer. Full Article
Enjoy SA To Buy Caesars Entertainment Corp's Uruguay Unit-Reuters
Reuters reported that Caesars Entertainment Corp has agreed to sell a controlling operating stake in Uruguay's hotel and casino Conrad to Chile's Enjoy SA for around $140 million. Enjoy which runs hotels and casinos in Chile and Argentina will buy a 45% stake in Caesars Entertainment's Baluma unit and will pay for the acquisition with a planned capital increase. Full Article
Republic Airways Holdings Inc And Caesars Entertainment Corporation Sign Three Year Flight Agreement
Republic Airways Holdings Inc and Caesars Entertainment Corporation announced that it has signed a three-year contract under which Republic’s Republic Airlines subsidiary will operate five Embraer E190 aircraft to provide more than 1,500 flights annually for Caesars’ customers throughout the United States. Full Article
Caesars Entertainment Corp's Subsidiary Announces Proposed $750 Million Debt Offering
Caesars Entertainment Corp announced that Caesars Operating Escrow LLC and Caesars Escrow Corporation (the "Escrow Issuers"), wholly owned unrestricted subsidiaries of Caesars Entertainment Operating Company, Inc. ("CEOC"), are proposing to issue $750.0 million aggregate principal amount of 8 ½% senior secured notes due 2020 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The offering is subject to market conditions and other factors. Caesars intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under CEOC's senior secured credit facilities, to pay related fees and expenses and for general corporate purposes. Full Article
Harrah's Entertainment, Inc. Announces Management Changes
Harrah's Entertainment, Inc announced that Executive Vice President and Chief Financial Officer (CFO) Jonathan Halkyard will leave the Company to pursue an opportunity outside of the gaming industry. Caesars has begun a search for a permanent replacement. On an interim basis, Halkyard's responsibilities will be assumed by other members of the Company's senior management team, including Chairman, CEO and President Gary Loveman. Full Article
Caesars Entertainment Corp Sells 1.81 Million Shares At $9, Middle Of Indicated Range- Reuters
Reuters reported that Caesars Entertainment Corp raised $16.3 million in an IPO on February 7, 2012 a fraction of what it was hoping to muster two years ago. The Company said it sold 1.81 million shares on Nasdaq at $9 per share valuing its equity at $1.13 billion. At this level, the middle of the advertised range, Caesars had said it expected net proceeds of $13.1 million. Caesars had filed for an IPO in 2010 under its former name, Harrah's Entertainment, hoping to raise some $500 million, but had to ditch the plans as the Company's debt became too much for investors to handle. The shares offered in the IPO make up just 1.4% of the Company's total float. But the move will offer minority investors the liquidity to exit as it allows them to sell 34.7 million shares following the offering out of the Company's total 125 million shares. Hedge fund Paulson & Co may sell its 9.9% stake while a group of investors that include funds of Goldman Sachs Group Inc and Blackstone Group LP may sell their stakes that total 17.9% , half straight away and the other half after six months. Credit Suisse and Citi led a total of seven underwriters on the offering. Full Article
Caesars Entertainment Corp Sees IPO Priced At $8-$10 Per Share- Reuters
Reuters reported that Caesars Entertainment Corp, one of casino operators in the United States, said it expects to sell 1.8 million shares in its initial public offering, priced between $8 and $10 apiece. The owner of the famed Caesars Palace had revived its IPO plans last November and filed with the U.S. Securities and Exchange Commission to raise up to $50 million. Based on the midpoint of the indicative price range, it expects to receive net proceeds of about $13.1 million from the offering, which it will use to develop projects. The Las Vegas-based company, which also operates casinos under the Harrah's and Horseshoe brands, aims to list its shares on the Nasdaq under the symbol 'CZR.' Credit Suisse Securities, Citigroup Global, BofA Merrill Lynch and Deutsche Bank Securities are among the underwriters for the offering. Full Article
Caesars plans to launch online poker this summer in Nevada
LOS ANGELES - Caesars Entertainment Group said it plans to go live this summer with an online poker site in Nevada, the only U.S. state so far to offer legal Internet gambling, and will promote the nascent service to thousands of poker players at its World Series of Poker (WSOP) tournament in Las Vegas starting May 29.
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