Caesars Entertainment Launches Mobile Sports Betting App in New Jersey

LAS VEGAS, Sept. 6, 2018 /PRNewswire/ -- Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars") announced that it's taking mobile sports bets today, September 6th, in New Jersey via The Caesars Casino & Sports app which is available through the App Store and on CaesarsCasino.com for Android users. This move allows anyone in NJ who downloads the app to place bets on their favorite sporting events, including professional football whose season kicks off today. They can also play over 400 casino games including slots, table games, and video poker.

"Since New Jersey decided to allow mobile sports betting, we have been working diligently to create the most engaging and fun mobile platform which provides users with the ability to place bets on their favorite sporting events," said Mark Frissora, CEO and President of Caesars Entertainment. "Players have the opportunity to earn and redeem rewards points through our Total Rewards loyalty program, which they can redeem for memorable experiences inside our world-class resorts. This launch further solidifies our investment into this exciting space."  

Caesars is the leader in legalized gaming in the U.S. and a part of that success has come through our partnership with technology innovator, Scientific Games. Scientific Games, a leading partner to the world's most powerful iGaming, iLottery and Sports Betting brands will power the Caesars Casinos & Sports mobile app. Its OpenBet technology provides Caesars' players with intuitive and sleek solutions, enhancing the sports betting experience through the mobile app and at Bally's, Wild Wild West and Harrah's Atlantic City.

Partnerships like this allow Caesars Entertainment to generate a seamless and fun experience for the end-user while also preserving shareholder value.  

The Caesars Casino & Sports app is available through the App Store and on Caesars website for Android users.  Caesars' mobile sports betting offering is integrated with Total Rewards.  More information on Total Rewards, including how to become a member, can be found at www.TotalRewards.com. Tri-state area gaming customers can access the mobile application in the state of New Jersey.  Wagers can be placed in the app via VISA, MasterCard, Paypal and select other forms of payment.

Following the Supreme Court's PASPA ruling and receipt of regulatory approvals, Caesars began taking sports bets at two of its New Jersey properties as well as its two Mississippi properties. As part of its sports betting growth strategy, Caesars plans to introduce retail locations and expand its mobile offerings in additional states when and if it becomes legal and economically attractive for Caesars to do so.

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.

Forward-Looking Statements

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" 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 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.

SOURCE Caesars Entertainment Corporation

Related Links

https://www.caesars.com