CZR Expands Digital Gaming With Branded Live Dealer Studio Launch

Core Insights - Caesars Entertainment, Inc. (CZR) has launched its first branded online casino live dealer studio in Pennsylvania, developed in collaboration with Evolution Gaming [1][2] - The initiative aims to enhance digital gaming presence and drive player engagement and revenue growth, reinforcing CZR's leadership in both physical and digital casino markets [2][4] Online Casino Developments - The Philadelphia-based studio features five blackjack tables (including one VIP exclusive), one roulette table, and one baccarat table, all with custom branding [3] - The platform integrates with Caesars Rewards, allowing players to earn credits for exclusive experiences across over 50 Caesars destinations in North America [4] Sports Betting Performance - In Q3 2024, net sports betting revenues increased by 36% year over year, driven by a hold rate of 8.6%, which rose approximately 210 basis points year over year [5] - As of September 30, 2024, CZR operated sports betting in 32 jurisdictions, with 26 offering mobile sports betting, and enhancements to the app have improved customer engagement [6] Marketing and Retention Strategies - The company has observed better retention rates in both iCasino and Sports, supported by targeted marketing campaigns, with 40 active campaigns as of Q3 2024 [7] - Further refinements to these campaigns are expected to drive additional gains in retention as the company approaches 2025 [7] Stock Performance - Over the past six months, shares of Caesars Entertainment have declined by 12.6%, contrasting with the industry's rise of 16.9% [9]