Yahoo Finance Caesars' (CZR) Tropicana Online Casino Returns to New Jersey
Caesars Entertainment, Inc. CZR announced the relaunch of the new upgraded iCasino app, Tropicana Online Casino in New Jersey. The upgraded version offers customers improved functionality with a catalog of industry-leading casino games and an improved integration with the industry-leading loyalty program, Caesars Rewards.
The enhanced application offers Tier Credits that are earned against every casino bet placed contributing to Reward Credits. These credits are redeemable for exclusive Caesars Rewards experiences and discounted getaways at various Caesars Entertainment locations across the United States. The application is available at digital platforms like iOS and Android along with a desktop version.
Pertaining to the relaunch, senior vice president of iGaming at Caesars Digital, Matthew Sunderland said, “The relaunch of Tropicana Online Casino is an important step in our progression toward providing valued customers with the best iGaming products in the industry. We’re confident this new offering delivers an elevated online casino experience with rewards that can’t be matched, similar to the industry-best experiences customers enjoy at Tropicana Atlantic City.”
Price Performance
Shares of CZR have gained 22.9% over the past six months, compared with the Zacks Leisure and Recreation Services industry’s growth of 16.8%.
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Caesars Entertainment focuses on sports betting expansion to drive growth. To this end, the company formed a new Caesars Digital segment comprising sports betting, iGaming and poker. The company integrated its digital offerings with Caesars Rewards at online and physical casinos. As of Dec 31, 2022, the company operated sports betting in 28 jurisdictions in North America, 20 of which are mobile. Also, it stated the availability of iGaming offerings in six jurisdictions.
The casino operations of CZR contributed to approximately 55% of its total net revenues in 2022. The iGaming segment holds 3%-4% of revenues and in 2022 its hold was 3.2%. The revenues of iGaming increased 43.6% to $8,073 million in 2022 from 2021. Caesar’s Digital generated an additional $1,223 million of sports betting handle in 2022, up 73.2% from 2021.
The company anticipates converting all Caesars branded apps and sportsbooks to its Liberty tech stack in the upcoming years. The initiative is likely to boost customer experience in the upcoming periods.
Zacks Rank & Other Key Picks
CZR currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Here are some other top-ranked stocks that investors may consider in the Zacks Consumer Discretionary sector.
Wynn Resorts, Limited WYNN currently has a Zacks Rank #1. WYNN has a trailing four-quarter earnings surprise of 0.6% on average. Shares of the company have gained 48.5% in the past six months.
The Zacks Consensus Estimate for WYNN’s 2023 sales and EPS suggests growth of 43.3% and 118.8%, respectively, from the year-ago levels.
Ralph Lauren Corporation RL currently sports a Zacks Rank #1. RL delivered a trailing four-quarter earnings surprise of 23.6% on average. Its shares have rallied 25.5% in the past six months.
The Zacks Consensus Estimate for RL’s fiscal 2024 sales and EPS suggests growth of 5.5% and 14%, respectively, from the year-ago levels.
InterContinental Hotels Group PLC IHG currently carries a Zacks Rank #2. Shares of IHG have gained 33.5% in the past six months. The long-term earnings growth rate of the company is 13.6%.
The Zacks Consensus Estimate for IHG’s 2023 sales and EPS suggests growth of 9.8% and 18.4%, respectively, from the year-ago period’s reported levels.
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Intercontinental Hotels Group (IHG) : Free Stock Analysis Report
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Caesars Entertainment, Inc. (CZR) : Free Stock Analysis Report
