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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Caesars Entertainment Corp    CZR

CAESARS ENTERTAINMENT CORP

(CZR)
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Caesars, Disney's ESPN Forge Partnership on Sports-Betting Content

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05/14/2019 | 12:08pm EDT

By Allison Prang

Caesars Entertainment Corp. and Walt Disney Co.'s ESPN are making a joint effort to promote sports-betting content.

An ESPN studio for creating sports-betting news and entertainment content, as well as hosting an ESPNews show, "Daily Wager," will be built at The Linq Hotel & Casino, one of Caesars' Las Vegas properties, the companies said Tuesday. The studio will begin operating next year.

ESPN programming will also start to include branding and data from Caesars in the coming weeks, the companies said. Caesars will also provide odds data for ESPN.

ESPN's efforts come as broadcasters look for ways to capitalize on growth in sports betting after the U.S. Supreme Court last year invalidated federal restrictions on such wagers. Fox Corp., the parent of the Fox television network and FS1, last week said it would take a minority stake in a betting company and launch a platform allowing customers in states where sports betting is legal to wager on events.

Fox and The Wall Street Journal parent News Corp share common ownership.

Caesars also reached a deal with AT&T Inc.'s Turner Sports earlier this year to develop new sports gambling-focused content. The casino operator has also been working to land partnerships with sports teams as well as entities like mobile sports-betting platform DraftKings Inc.

Write to Allison Prang at allison.prang@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CAESARS ENTERTAINMENT CORP 14.51% 11.44 Delayed Quote.47.13%
FOX CORP 0.00%End-of-day quote.0.00%
WALT DISNEY COMPANY (THE) -0.72% 139.22 Delayed Quote.26.97%
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Financials ($)
Sales 2019 8 696 M
EBIT 2019 1 187 M
Net income 2019 -295 M
Debt 2019 13 646 M
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020
EV / Sales 2019 2,34x
EV / Sales 2020 2,23x
Capitalization 6 720 M
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Technical analysis trends CAESARS ENTERTAINMENT CORP
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 11,1 $
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
Mark P. Frissora President, Chief Executive Officer & Director
James S. Hunt Chairman
Eric Alan Hession Chief Financial Officer & Executive Vice President
Leslie Ottolenghi Chief Information Officer & Executive VP
Christopher Judson Williams Independent Director
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