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Tag: Caesars

  • Las Vegas F1 Extends Caesars Partnership to 2030 • This Week in Gambling

    Las Vegas F1 has secured a long-term commitment from one of its most prominent Strip partners, as the Grand Prix and Caesars Entertainment announced an extension of their partnership agreement through 2030. The renewal ensures that Caesars will remain a core hospitality and event partner for the race as it continues to establish itself as a major fixture on the global Formula 1 calendar.

    Organizers described the extension as a continuation of the collaboration that helped launch the modern Las Vegas F1 event in 2023. Caesars Entertainment was one of the inaugural partners supporting the race’s return to the Strip, offering grandstand seating, premium hospitality, and large-scale viewing areas across several of its properties. The renewed agreement reinforces that relationship well into the next decade.

    The Las Vegas Grand Prix has quickly become one of the most anticipated stops on the Formula 1 schedule, drawing international attention for its night race format and circuit that winds through key landmarks. The partnership extension is expected to keep Caesars Entertainment deeply involved in the race’s growing portfolio of premium experiences. This includes trackside clubs, curated food and beverage events, and high-end packages tied to Caesars’ resorts.

    The company is also in the middle of a multiyear redesign of Caesars Palace, which is projected to play an even larger role in race-week offerings. Renovations include upgrades throughout its hotel towers, new luxury villas, enhanced VIP check-in spaces, and expanded hospitality areas. These improvements are expected to align with the demands of Las Vegas F1 guests, who have shown strong interest in high-tier accommodations and exclusive event access.

    Race officials said the extended partnership supports long-term stability for the event as it continues to grow attendance, media coverage, and sponsor interest. Caesars Entertainment executives added that the company intends to use its properties and entertainment network to enhance the overall race atmosphere and strengthen Las Vegas F1 as a signature attraction for the city.

    The agreement signals continued confidence in the future of Formula 1 in Las Vegas, solidifying a partnership that played a major role in the event’s recent success. With both sides committed through 2030, the Las Vegas F1 weekend is positioned to remain one of the premier racing and tourism draws on the Strip for years to come.

    This Week in Gambling

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  • Louisiana Sports Bettor Turns $50 Into $574,925 on Six-Leg Parlay

    Posted on: October 18, 2025, 01:53h. 

    Last updated on: October 18, 2025, 01:53h.

    • A bettor in Louisiana won $574,925 on a $50 bet
    • The six-leg parlay was made with Caesars Sportsbook

    A sports bettor in Louisiana had himself a Thursday when his six-leg “Super Parlay” hit for almost $575K.

    Caesars Sportsbook Louisiana sports betting
    Caesars New Orleans is pictured. A sports bettor in Louisiana using the Caesars Sportsbook hit a $50 six-leg parlay that won $574,925. Parlays are typically very profitable for sportsbooks, with this win being one major exception. (Image: Shutterstock)

    Caesars Sportsbook shared the news on Friday morning that a bettor in Louisiana turned $50 into $574,925 on a six-leg parlay.

    Caesars Sportsbook Louisiana sports betting
    (Image: X)

    The ticket slip had four players competing in the MLB American and National League Championship Series’ going yard — Max Muncy (+500), Teoscar Hernandez (+475), Randy Arozarena (+525), and Vladimir Guerrero Jr. (+390).

    When all hit homers, the bettor still needed touchdowns from Jonnu Smith (+340) and Tee Higgins (+215) during Thursday Night Football. Smith and Higgins came through, each scoring TDs before the first half concluded.

    Caesars Sportsbook says the six-leg parlay’s odds were around 11,498 to 1, meaning the bettor turned every $1 bet on the ticket into nearly $11,498.

    “Pretty remarkable win,” said a Caesars Sportsbook spokesperson.

    Remote Bet Had Remote Odds

    In relaying the news to Casino.org, a Caesars Sportsbook rep said the bettor made the wager remotely via the online sportsbook’s mobile app. A “Super Parlay,” as Caesars Sportsbook billed the bet, is when the ticket combines multiple same-game parlays, same-game parlays to a traditional parlay, or same-game parlays to a straight wager selection.

    Caesars Entertainment manages three casinos in Louisiana — Caesars New Orleans, Horseshoe Lake Charles, and Horseshoe Bossier City. Each Caesars property in the Bayou State has a Caesars Sportsbook.

    Sportsbooks typically enjoy it when customers build parlays, as the combining of bets compounds the book’s edge over the bettor. The lengthier odds come with larger payouts, which attract bettors to keep trying them despite rarely winning.

    Small wagers with the possibility of a big payout are seen as a form of fun entertainment. Some say it’s akin to playing the lottery — a low probability of winning but the slim chance of winning big keeps players coming back.

    A parlay elevates the sportsbook’s “vig,” or commission/fee implemented into the odds, that ensures the book will make a profit regardless of the outcome of the game. Vig, which stands for “vigorish,” or the book’s “juice,” is compounded as a bettor assembles a parlay. 

    Louisiana Sports Betting

    Oddsmakers in Louisiana continue to see growth in both handle and revenue. Mobile sportsbooks have grown their net win from $209.2 million in the 2023 fiscal year to more than $443.4 million in the 2025 fiscal campaign.  

    Online bets have grown from $2.2 billion in 2023 to over $3.7 billion last year.

    Basketball — not football — is the most bet sport in Louisiana. Oddsmakers won $41.6 million last year on hoops, and $27.2 million on football. Revenue from parlays totaled $296.7 million, accounting for a staggering 67% of the Louisiana sports betting revenue in the 2025 fiscal year.

    Devin O’Connor

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  • Atlantic City Casinos Unite to Support Breast Cancer Awareness

    Posted on: October 3, 2025, 03:14h. 

    Last updated on: October 2, 2025, 01:15h.

    • October is Breast Cancer Awareness Month
    • Atlantic City casinos are recognizing the initiative in various ways

    October is Breast Cancer Awareness Month, and the nine casinos in Atlantic City are uniting in support of the annual initiative that supports research and the early detection of the disease.

    Atlantic City Breast Cancer Awareness Month
    Resorts Casino Hotel in Atlantic City is lit pink to recognize October being Breast Cancer Awareness Month. Most casinos in town are also recognizing the month that raises awareness and support for breast cancer. (Image: Casino Reinvestment Development Authority)

    Since its founding in 1985 through a partnership between the American Cancer Society and the pharmaceutical division of Imperial Chemical Industries, today AstraZeneca, October has served as the national month to raise awareness regarding breast cancer. Atlantic City casinos are once again recognizing the month through a series of initiatives.

    Breast cancer impacts families in every community, but thanks to advances in detection and treatment, survival rates continue to rise. Each October during Breast Cancer Awareness Month, Atlantic City casinos stand united with our employees, guests, and the greater community to raise awareness and shine a light on this important cause,” said Mark Giannantonio, president of the Casino Association of New Jersey (CANJ) and Resorts Casino Hotel.

    “Atlantic City casinos remain committed to supporting groundbreaking research, promoting early detection, and ensuring care for all those impacted by this disease,” Giannantonio added.

    Pink Lights

    Throughout the month, Atlantic City casinos will display pink lights atop their hotel towers and on their facades.

    The color pink is associated with breast cancer awareness. In 1991, the Susan G. Komen Race for the Cure began distributing pink ribbons to participants. Pink is also seen as a feminine and compassionate color.

    Borgata, Caesars Entertainment’s three properties (Caesars, Harrah’s, and Tropicana), Ocean, Hard Rock, and Resorts all plan to light up their properties pink. At Golden Nugget, male staffers will wear pink and compete with one another to raise the most money for breast cancer research.

    Hard Rock is selling a pink-colored cocktail all month long, with a portion of the drink’s proceeds supporting breast cancer. Caesars is running a similar pink cocktail special and has committed $1 of every drink sold to the American Cancer Society’s Men Wear Pink campaign. Resorts is also offering a pink cosmopolitan, with proceeds benefitting the American Cancer Society.

    Golden Nugget says donated gaming vouchers will be given to Making Strides Against Breast Cancer. Resorts is donating its voucher buckets to the Men Wear Pink initiative of Greater Philadelphia.

    Borgata and Caesars properties are additionally offering free on-site mammogram screenings for team members.

    For a complete list of all Atlantic City casino breast cancer awareness activities, click here.

    Breast Cancer Statistics

    Among the most funded cancers, breast cancer is the most common cancer in women in the United States, except for skin cancers. Breast cancer accounts for about 30% of all new female cancers each year, the American Cancer Society says.

    The organization says there are more than four million breast cancer survivors in the US, inclusive of current patients and those who have completed treatment.

    The five-year survival rate for localized breast cancer, the lowest grade on the SEER (Surveillance, Epidemiology, and End Results) scale, is better than 99%. However, the five-year survival rate for a Distant SEER diagnosis, meaning the cancer has spread to distant parts of the body such as the lungs, liver, or bones, is just 32%.

    Devin O’Connor

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  • Weaknesses in Las Vegas Tourism Forces Strategic Re-Think

    Posted on: August 23, 2025, 02:12h. 

    Last updated on: August 23, 2025, 02:12h.

    • Downturn in Las Vegas tourism prompts strategic re-assessment on how to attract customers
    • Canadians travelling to Las Vegas less
    • Pro sports boosting casino traffic

    With Las Vegas casino operators reporting Q2 earnings in late July, a new report by Octus Research shone a spotlight on how both MGM and Caesars were experiencing a downturn in the number of customers, prompting a strategic reassessment on how they are attracting and retaining customers, and Canada is a big part of that.

    Octus Research released several reports analyzing the softening visitor numbers at Las Vegas casinos, and how a decline in Canadian tourism has had an impact on those numbers. Image/Mark Keast.

    Tourism Numbers Have Been Softening

    Both resorts have been experiencing midweek softness, reduced visitation from international travellers, especially from Canada, and a weakening in their value-tier offerings, the report said, with one of the the key findings from the earnings report being that MGM and the industry in general will have to be more thoughtful about how to attract value-oriented customers.

    There are those in Las Vegas now who scoff at the narratives that Vegas is in trouble, that the town is over-priced, and that younger people are less interested in going to there to gamble.

    However Casino.org’s Devin O’Connor has written several pieces on the state of Las Vegas tourism, with July being the second-worst month of 2025 in terms of foot traffic.

    Mixed Bag of Opinions on Sin City Tourism

    According to the Octus report, summarizing the MGM and Caesars earnings, June 2025 visitor volumes fell 11.3%. Las Vegas visitor volumes have declined each month so far in 2025. MGM CEO William Hornbuckle suggested during MGM’s call that “value-oriented properties” that are more sensitive to economic swings are experiencing relatively greater ADR pressure.

    Caesars reported 97% occupancy compared with 99% in the same period a year earlier. The company started with a “strong April,” then May and June began to decline. Caesars Entertainment CEO Tom Reeg said during the earnings call that “the forward booking numbers have stabilized, but that it was not ‘some huge bullish turn.’ Rather, more ‘as if your tire had a leak and you patched it.’”

    Canada Part of the Challenge

    There are a lot of factors impacting the decline of travel by Canadians to Las Vegas. Canadian airlines like Air Canada and WestJet have reported drops in the number of passengers flying to Las Vegas this year.

    According to the Octus report: “Reeg said the company’s international business is softer, especially Canada. Caesars was down 27,000 room nights during the second quarter, and Canadians were a “significant piece of that,” even though they are only “3% or 4% of the total pie.” He added that when he looks at the business as a whole, the company’s consolidated performance does not suggest that there is anything particularly concerning about the U.S. consumer.

    Steve Hill, President and CEO of LVCVA, said that Canadian visitation is down roughly 15% to date.

    Kyle Owusu, CFA, Director of Credit Research at Octus, points to two determining factors regarding a continued Canadian visitation decline: The state of the Canadian economy and the extent to which Canadians remain upset with U.S. President Donald Trump, who has made public comments this year about how Canada would be better off as the U.S.’s 51st state, plus ramping up a tariff war with Canada.

    Restoring Las Vegas as a value destination will go a long way in reversing downward visitation trends, according to an industry expert. Image/Mark Keast

    Trump Anger Factor

    Canadians are angry, and there has been more of a focus on travelling domestically, or to places like Europe, then travelling into the U.S., on top of a nation-wide movement to “buy Canadian” in grocery stores.

    “My base case is continued year over year declines through the first half of 2026 before the year over year trends begin to stabilize in the second half of 2026, but it’s hard to forecast destination travel trends from Canada to the U.S. with any degree of confidence given the high degree of human emotion involved,” said Owusu.

    “I think the shift in booking behavior will change how Las Vegas properties market to and price for Canadian visitors, but it depends on the asset,” he said. ““Canadian volumes represent a low-single-digit % of overall Las Vegas visitation so if certain assets are performing well enough with U.S. consumers, or U.S. consumers and other international travels ex-Canada, and operators think they can get away with holding firm with regard to price then they probably will.”

    Restoring Las Vegas as a value destination as opposed to its reputation as a expensive luxury destination, factoring in criticism over high resort fees and high food and beverage prices, matters a lot, and will entice getting more Canadians to come back, Owusu added.

    Restoring Las Vegas as a Value Destination

    “That’s hard to quantify percentage-wise, but restoring the value destination appeal matters a lot. Vegas has benefitted from price increases for the past four years, especially within the hotel, food and beverage business line,”  said Owusu. “Eventually you start to hit a ceiling regarding how much value you can deliver in relation to how much you’re asking people to pay.

    “If we are heading into a more uncertain global trade environment, restoring value destination appeal probably matters with regard to most (if not all) destination assets that aren’t catering to high end or luxury consumers, and we appear to be heading into an increasingly uncertain environment, so I think restoring Las Vegas’ value destination appeal is going to be front of mind for operators in 2026.”

    On a broader note, regarding travel to the Vegas Strip, Owusu mentioned that: “The key takeaway is for now, casinos catering to luxury customers have been spared from the pressure affecting destination travel.”

    T-Mobile Arena, home of the NHL’s Vegas Golden Knights. Image/Mark Keast

    Pro Sports Teams Having a Positive Impact

    Pro sports teams in Las Vegas is another important factor in luring Canadians to the city, according to a Toronto-based marketer, with the NFL’s Las Vegas Raiders about to start a new season, and the NHL’s Vegas Golden Knights ramping up in October.

    The new MLB baseball team is set to land in an exciting new stadium, designed 33,000-seat, fixed-roof ballpark on the Las Vegas Strip where the old Tropicana Casino used to be, designed by Bjarke Ingels Group (BIG) and HNTB, an architectural firm, in 2028.

    “The key for us is to bring players into the casinos,” said Lora Green, one of the managing partners at Casino Marketing Group in Toronto, an exclusive service, where her company puts together white glove, exclusive trips for her network of high-roller gamblers to luxury casinos like Caesars Palace.

    “So having NFL, NHL, and MLB in Las Vegas is a great draw for clients. They can enjoy a live sporting event and go back to the casino and gamble, hoping their teams win and they win in the casino as well.”

    Mark Keast

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  • World Series of Poker Sold • This Week in Gambling

    World Series of Poker Sold • This Week in Gambling







    Caesars Entertainment has agreed to sell the World Series of Poker brand and all of its intellectual property to the operator of GGPoker, the NSUS Group, for $500 million. The deal should be finalized before the end of this year and includes $250 million in cash and a $250 million promissory note payable five years after the deal closes.

    Despite the sale, Caesars will retain the rights to host the annual World Series of Poker live tournament in Las Vegas for the next 20 years. Caesars Digital will also receive a license from NSUS to continue operating its WSOP Online real-money poker platforms in Nevada, New Jersey, Michigan, and Pennsylvania for the foreseeable future.

    However, Caesars will be restricted from running online poker in other jurisdictions for a specified period of time, subject to certain exceptions. Additionally, Caesars’s physical poker rooms will maintain WSOP branding and will have preferential rights to host WSOP Circuit events.

    Acquired by Caesars from the Binion family in 2004, the World Series of Poker has grown from a single Las Vegas event into a global series of tournaments and an online platform. The most recent WSOP series at Horseshoe Las Vegas featured 99 events with a total prize pool exceeding $437 million.