CZR stock is working through a complex double bottomThe double bottom chart pattern is a reversal pattern that indicates the exhaustion of a downward trend and the potential for an upward trend. pattern as of January 15, 2022. The company’s Caesar Sportsbook betting product is gaining traction across sports teams which makes the stock a compelling risk vs reward setup.
BUFFALO BILLS WELCOME CAESARS SPORTSBOOK AS AN OFFICIAL MOBILE SPORTS BETTING PARTNER
On January 15, 2022, The Buffalo Bills and Caesars Entertainment, Inc. (NASDAQ: CZR) announced a multi-year partnership to make Caesars Sportsbook an Official Mobile Sports Betting Partner of the Buffalo Bills. The partnership combines custom fan experiences ‘fit for a Caesar’, significant sponsorship assets, and provides Caesars Sportsbook naming rights to a new sportsbook-style premium club lounge at Highmark Stadium.
Details on the brand-new club in the northwest corner tower of the existing Business Class Club will be available prior to the start of the 2022 Buffalo Bills season. In addition to the new space, Caesars Sportsbook gains access to the use of official Buffalo Bills logos and marks, as well as access to a wide range of VIP experiences and hospitality assets to make available for Caesars Sportsbook bettors through the Caesars Sportsbook app’s integration with the industry-leading loyalty program, Caesars Rewards.
“This partnership gives us the opportunity to connect with one of the most passionate fan bases in all of sports,” said Chris Holdren, Co-President of Caesars Digital. “We’re ready to welcome Bills fans into the Caesars Empire and offer them access to best-in-class hospitality experiences through our Caesars Sportsbook app as we continue to expand our footprint across the state of New York and beyond.”
Broadcast and digital content across Bills’ properties, TV-visible in-game signage, and access to unique fan activations at Highmark Stadium, are all included in this partnership as Caesars Sportsbook will extend its outreach beyond Western New York to Bills fans in Southern Ontario. Bills fans attending the Wild Card playoff game against the New England Patriots can also enjoy a co-branded beanie giveaway.
“The Caesars Sportsbook app is a premier sports betting app that connects sports fans and delivers best-in-class experiences,” said Dan Misko, Pegula Sports & Entertainment Sr. Vice President of Business Development. “We’re very excited to work together with Caesars to engage Bills fans throughout Western New York and Southern Ontario, bringing these unique experiences right to their fingertips. We look forward to the new attraction Caesars will bring to Highmark Stadium next season, and to working with Caesars Sportsbook for many years to come.”
Caesars Sportsbook was among the first sports betting operators to launch in the state of New York on the day mobile sports wagering went live. Bills fans and eligible sports fans across the Empire State can download the Caesars Sportsbook app on iOS or Android and place sports wagers on their favorite teams. Caesars Sportsbook is the only app in the state to reward sports bettors with every bet they place through Tier Credits and Reward Credits that can be used to unlock unbeatable experiences within the Caesars portfolio of properties and partnerships.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment Company in the U.S. and one of the world’s most diversified casino-entertainment providers. Since its beginning in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.’s resorts operate primarily under the Caesars®, Harrah’s®, Horseshoe®, and Eldorado® brand names. Caesars Entertainment, Inc. offers diversified gaming, entertainment and hospitality amenities, one-of-a-kind destinations, and a full suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the Company focuses on building value with its guests through a unique combination of impeccable service, operational excellence and technology leadership.
CAESARS SPORTSBOOK NAMED OFFICIAL SPORTS BETTING & iGAMING PARTNER OF MICHIGAN STATE ATHLETICS
On January 13, 2022, Michigan State University (MSU) Athletics, MSU Sports Properties and Caesars Entertainment Inc. (NASDAQ: CZR) today announced a multi-year partnership to make Caesars Sportsbook the Official and Exclusive Sports Betting Partner and iGaming Partner of MSU Athletics. The partnership combines fan engagement opportunities, a new premium seating area at Spartan Stadium, and an expansion of responsible sports gaming education.
Caesars Sportsbook will gain significant exposure through MSU’s sports properties and access to a wide range of hospitality assets and VIP experiences, which will be available to Caesars Sportsbook players, as part of the wide range of benefits offered through the industry-leading loyalty program, Caesars Rewards.
Assets include broadcast and digital content across MSU athletics, TV-visible signage across basketball, football and hockey, naming entitlement for a new premium seating area inside Spartan Stadium set to debut during the 2022 football season along with an outdoor tailgating area, and access to unique alumni and fan engagement opportunities surrounding varsity sports seasons currently underway. Spartan fans can also soon enjoy special emperor-worthy promotional offers on mobile sports betting, iGaming, and The World Series of Poker (WSOP®) product offerings.
“Michigan State has a proud tradition of excellence and partnering with an internationally recognized brand in college athletics is a great opportunity for us,” said Eric Hession, Co-President of Caesars Digital. “The Spartan fan base and alumni network is passionate and well-established across the country. We look forward to building upon our connection with them while strengthening the legacy we hold in the state of Michigan and advancing scholarship opportunities through this partnership.”
In addition to providing a significant financial commitment to MSU, Caesars Sportsbook will provide annual funds to support student-athlete responsible gaming education, student scholarships, as well as internship and professional development opportunities for MSU students pursuing a career in the sports industry.
“The opportunity to partner with Caesars, a leading force in the sports and entertainment industry, will help enhance gameday experiences for Spartan fans and provide significant resources to support the growing needs of each of our varsity programs,” said Alan Haller, Michigan State Vice President and Director of Athletics. “We are excited to be on the cutting edge of this innovative opportunity while recognizing the importance of Caesars’ commitment to responsible sports gaming education both for the student-athletes and the University community as a whole.”
This agreement also places an emphasis on the expansion of responsible sports gaming and education for the MSU community. Caesars Sportsbook is committed to working with the Michigan Association on Problem Gambling (MAPG), regulators and the community to provide responsible gaming resources to all eligible sports bettors in the state and driving awareness of the responsible gaming tools available on the Caesars Sportsbook app.
This partnership was facilitated by MSU’s third-party multi-media rights holder, Playfly Sports.
“The rapidly expanding interest around gaming in the college space has pushed us to create strategic opportunities for our college properties that not only provide impactful gaming education resources but also significant opportunities to drive new sources of revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th...,” said Christy Hedgpeth, President of Playfly Sports Properties. “Connecting Caesars’ iconic brand to MSU’s passionate community of students, fans and alumni is a perfect fit and another example of how partnerships like this are creating tremendous benefits for all parties involved.”
Caesars Sportsbook is currently live in 21 states and jurisdictions—15 of which are mobile—and operates the largest number of retail sportsbooks across the country. Eligible sports fans in Michigan can download the app on iOS or Android to take advantage of expansive wagering options, including live in-game betting, daily promotions, special odds boosts, as well as safe and easy ways to deposit and withdraw funds. Caesars Sportsbook integrates Caesars Rewards, where every bet placed rewards the bettor with Tier Credits and Reward Credits that can be used to unlock unbeatable experiences within the Caesars portfolio of properties and partnerships.
Caesars price target lowered to $110 from $140 at Truist
On January 13, 2022, Truist analyst Barry Jonas lowered the firm’s price target on Caesars to $110 from $140 but keeps a Buy rating on the shares as part of a broader research note previewing the 2022 U.S. Gaming sector. Gaming “lived and thrived” through COVID, and while these stocks re-rated lower recently, it’s hard to not like the relative stability and safety of this battle-tested sector, the analyst tells investors in a research note, adding that shares have been “hit too hard at current valuation levels.” Jonas further notes however that his reduced price target reflects lower value for the Digital segments re-rating online with lower market multiples.
2021 NFL season averaged 17.1M viewers
On January 12, 2022, the National Football League said that the 2021 NFL regular season averaged 17.1M viewers (TV+Digital) – the highest regular season average since 2015 and up +10% vs. 2020. During the 2021 NFL regular season, NFL games ranked as the top 16, 48 of the top 50 and 91 of the top 100 telecasts on TV. Throughout the season, there were 370B total minutes consumed which is up +18% vs. 2020 and the second-highest total on record behind only 2015. For the first time, each NFL team played 17 regular season games, providing fans with an extra week of regular season NFL action. Companies that broadcast NFL games include ViacomCBS (VIACA), Fox (FOXA), Disney (DIS), and Comcast (CMCSA). Companies in the sports betting space include Accel Entertainment (ACEL), Bally’s (BALY), Boyd Gaming (BYD), Caesars (CZR), Churchill Downs (CHDN), DraftKings (DKNG), Flutter Entertainment (PDYPY), Gan Limited (GAN), Genius Sports (GENI), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN), Rush Street Interactive (RSI), Scientific Games (SGMS), Score Media (SCR) and Wynn Resorts (WYNN).
Caesars Sportsbook Debuts Mobile Sports Betting in New York
On January 8, 2022, after being named one of the first operators to receive a license for mobile sports wagering operations in the state, Caesars Entertainment, Inc. (NASDAQ: CZR) made history with its online and mobile sports betting app, Caesars Sportsbook, accepting its first sports wagers in the Empire State.
Sports fans from the Bronx to Buffalo, Rochester to Ronkonkoma and all across the state can now get closer to the sports they love and get rewarded like royalty when they place their bets.
“Today is a historic day for not only Caesars Sportsbook, but for the entire state of New York,” said Chris Holdren, Co-President of Caesars Digital. “We’re ready to treat sports fans across the state of New York like royalty through our Caesars Sportsbook app as we welcome them into the Caesars Empire, extend our already established roots and continue to build partnerships that benefit our bettors.”
Caesars Sportsbook brings its legendary customer loyalty program, Caesars Rewards, to New York as the only app in the state to reward sports bettors with every bet they place. New Yorkers who wager with Caesars Sportsbook can earn Tier Credits and Reward Credits with every wager, that can be used to unlock emperor-worthy experiences within the Caesars portfolio of properties and partnerships.
Caesars Rewards members, a network of more than 60 million people, exclusively benefit from unbeatable hotel, food & beverage, entertainment, and gaming opportunities at Caesars destinations across the country – including resorts in the heart of the Las Vegas Strip – as well as bonus cash in the app and unique sports experiences. In New York specifically, sports bettors can enjoy VIP experiences with the New York Knicks and New York Rangers on behalf of the newly established partnership with Madison Square Garden and MSG Networks and soon, much more.
With mobile sports betting officially live, eligible New Yorkers can download the Caesars Sportsbook app, register, deposit funds and jump right into the action with launch offers to commemorate this historic moment. Starting today, eligible sports fans in New York can combine offers for an unrivaled first bet experience:
Register and get $300 in bonus cash:
- Download the app and register to receive $300 in bonus cash
- Deposit and receive an unbeatable deposit match:
- Caesars Sportsbook will match all initial deposits up to $3,000
As part of launch weekend, the Caesars Sportsbook app will also provide New Yorkers additional special odds boosts and offers on their favorite local teams in action.
NYS Gaming Commission approves four mobile sports betting operators to take bets
On January 6, 2022, the NYS Gaming Commission announced that four licensed mobile sports wagering operators – Caesars Sportsbook (CZR), DraftKings (DKNG), FanDuel (PDYPY), and Rush Street Interactive (RSI) – have satisfied all statutory and regulatory requirements necessary to accept and process mobile sports wagering activity and have been approved to commence operations with launch effective no earlier than Saturday, January 8 at 9 a.m. Eastern Standard Time. After that effective date, each licensee will determine when to accept wagers, based upon its business capabilities and readiness. The remaining five conditionally licensed mobile sports wagering operators continue to work towards satisfying statutory and regulatory requirements necessary to launch and will be approved on a rolling basis when requirements are met.
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📈 CZR Stock Technical Analysis
The short-term trend is negative, as is the long-term trend. It is usually not a good idea to go long stocks in short-term and long-term downtrends. CZR is currently trading in the middle of its 52-week range. The S&P500 Index however is trading in the upper part of its 52-week range, so CZR is lagging the market slightly. CZR is part of the Hotels, Restaurants & Leisure industry. There are 137 other stocks in this industry, of which 61% are performing better than CZR.
There is a support zone ranging from 82.47 to 82.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
There is a resistance zone ranging from 87.77 to 88.36. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame. There is a resistance zone ranging from 92.81 to 94.76. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.