Caesars Entertainment, Inc. Co – GuruFocus.com
LA VEGAS and RENO, Nev., July 1, 2022 /PRNewswire/ — Caesars Entertainment, Inc.. (NASDAQ: CZR) (“Caesars”) today announced the closing of the sale of the non-U.S. assets of William Hill to 888 Holdings Plc. After debt repayment and other working capital adjustments, Caesars received net proceeds of $730 million. Caesars intends to use the net proceeds to reduce outstanding debt.
Deutsche Bank and Linklaters LLP represented Caesars in the transaction.
About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino entertainment company in the United States and one of the most diverse casino entertainment providers in the world. Since its beginnings in Reno, Nevada, in 1937, Caesars Entertainment, Inc. grew through the development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.’s resorts primarily operate under the Caesars®, Harrah’s®, Horseshoe® and Eldorado® brands. Caesars Entertainment, Inc. offers diverse gaming, entertainment and hospitality amenities, unique destinations and a full range of mobile and online gaming and sports betting experiences. All linked to its industry-leading Caesars Rewards loyalty program, the company is focused on creating value with its customers through a unique combination of impeccable service, operational excellence and technology leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. Know when to quit before you start.® Trouble gambling? Dial 1-800-522-4700. For more information, please visit. www.caesars.com/company.
This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “plans”, “assumes”, “believes”, “estimates”, “expects”, “guidance”, “intends”, “plans”, ” projects” and similar expressions that have nothing to do with the story. Forward-looking statements include all statements other than statements of historical fact, including statements regarding required regulatory approvals and the expected timing of completion of the proposed transaction. You should exercise caution when interpreting and relying on forward-looking statements, as they involve known and unknown risks, uncertainties and other factors which are, in some instances, beyond Caesars’ control and which could material to actual results, performance or achievements. Although Caesars believes that in making such forward-looking statements, its expectations are based on reasonable assumptions, there can be no assurance that the proposed transaction will be completed, and such forward-looking statements may be influenced by factors that could cause results and actual results may differ materially from those projected. Caesars cannot assure you that the assumptions on which these statements are based will prove to be correct. Risks and uncertainties regarding the forward-looking statements contained herein include, but are not limited to, the possibility that the proposed sale of the non-U.S. assets of William Hill to 888 Holdings Plc will not close on the terms or within the time disclosed in this press release or not at all, including because regulatory or required 888 Holdings Plc shareholder approvals are not received or other conditions are not satisfied in a timely manner or at all, and other risks which are detailed from time to time in Caesars’ filings with the Securities and Exchange Commission. Caesars undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Source: Caesars Entertainment, Inc.
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