Prior to the official launch of sports betting in Arizona on Sep 9, many industry players are trying to cash-in the event and attract bettors with pre-launch promotions. Caesars Entertainment, Inc. (CZR – Free Report) isn’t far behind the game.
The company announced the launch of its new Caesars Sportsbook app in Arizona, for download and deposit purposes. Also, it is providing a range of bonuses for signing up ahead of time. This includes risk-free bets (upto $5,000), early register and deposit to avail $100 free bet as well as early bets to avail $1 free bets when the home teams score.
Moreover, the company integrated its digital offerings with Caesars Rewards, at both online and physical casinos. This facilitates bettors with credits and tier status that can be used to unlock unbeatable experiences within the Caesars portfolio of properties and partnerships.
With respect to the launch, Eric Hession, co-president of Caesars Digital, stated, “Arizona is the first state where our brand-new Caesars Sportsbook app will be live right as sports betting becomes legalized. We believe our app is the best in the industry, and we are thrilled to launch with a series of exciting offers that Arizonans can trust.”
Other Developments in Arizona
Caesars has been boosting presence in Arizona with various other partnerships. Earlier, the company had partnered with Arizona Diamondbacks (on May 6, 2021) to launch mobile sports betting in Arizona as well as build a sportsbook and bar concept on the plaza adjacent to Chase Field. The company anticipates the opening of the property in early 2022.
Moreover, it partnered with the Fiesta Bowl Organization for the first-ever sports betting and gaming partnership for a college football Bowl game. Per the agreement, Caesars Entertainment will organize new fan lounges within the stadiums for the PlayStation Fiesta Bowl and Guaranteed Rate Bowl.
Going forward, the company is optimistic regarding its partnerships as the state makes this shift into legal sports betting.
Image Source: Zacks Investment Research
So far this year, shares of Caesars Entertainment have gained 40.3% compared with the industry’s 11.9% growth.
Zacks Rank & Key Picks
Caesars Entertainment currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the same space include Bluegreen Vacations Holding Corporation (BVH – Free Report) , SeaWorld Entertainment, Inc. (SEAS – Free Report) and RCI Hospitality Holdings, Inc. (RICK – Free Report) . Bluegreen Vacations and SeaWorld Entertainment sport a Zacks Rank #1, while RCI Hospitality carries a Zacks Rank #2 (Buy).
Bluegreen Vacations and SeaWorld Entertainment’s earnings for 2021 are expected to surge 172% and 176.4%, respectively.
RCI Hospitality has a three-five-year earnings per share growth rate of 12%.