CZR Expands Digital Gaming With Branded Live Dealer Studio Launch

Caesars Entertainment, Inc. CZR recently unveiled its first branded online casino live dealer studio in Pennsylvania. The studio, developed in collaboration with Evolution Gaming, serves players at Caesars Palace Online Casino, Horseshoe Online Casino and Caesars Sportsbook & Casino.The launch of the live dealer studio underscores CZR’s commitment to innovation and enhancing its digital gaming presence. This initiative is expected to drive player engagement and revenue growth, reinforcing its leadership in physical and digital casino markets.The Philadelphia-based studio offers a variety of options, including five blackjack tables (one VIP exclusive), one roulette table and one baccarat table. Each table features custom branding with imagery from Caesars Palace and its online platforms. Some tables are co-branded with professional sports leagues, while the VIP-exclusive blackjack table provides a high-limit, 1-to-1 live gaming experience previously available only in physical casinos.In addition, the platform integrates with Caesars Rewards, allowing players to earn credits redeemable for exclusive experiences across more than 50 Caesars destinations in North America.The company is optimistic and anticipates the initiative to drive growth in the coming periods.Focus on Sports Betting & TechnologyIncreased focus on sports betting enhancements bodes well. During the third quarter of 2024, net sports betting revenues increased 36% year over year. The upside was driven by a hold rate of 8.6%, which increased approximately 210 basis points year over year. The company stated benefits from increased state or jurisdictional legalization, new product launches and improved customer adoption.As of Sept. 30, 2024, the company operated sports betting in 32 jurisdictions in North America, out of which 26 offer mobile sports betting. The company’s app enhancements led to a higher mix of parlay and cash-out options, driving structural hold improvements this quarter. Based on the positive response to these enhanced parlay features, the company now anticipates that reaching a structural hold above the 10% threshold is feasible within the next few years. This progression is expected to show steady increases as it builds from a relatively low starting point.In both iCasino and Sports, the company has observed better retention, supported by targeted marketing campaigns. Since April 2024, the company has been developing and testing these campaigns with 40 active (as of third-quarter 2024). Further refinements to these campaigns are anticipated to drive additional gains in retention as it approaches 2025.The company intends to focus on product enhancements, including cash-out speed, customer service, parlay and alternative line offerings to drive growth.Image Source: Zacks Investment ResearchIn the past six months, shares of Caesars Entertainment have declined 12.6% against the industry’s rise of 16.9%.CZR’s Zacks Rank & Key PicksCaesars Entertainment currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the Zacks Consumer Discretionary sector are:Norwegian Cruise Line Holdings Ltd. NCLH currently sports a Zacks Rank #1 (Strong Buy). NCLH delivered a trailing four-quarter earnings surprise of 4.2%, on average. The stock has surged 47.4% in the past year. You can see the complete list of today’s Zacks Rank #1 stocks here.The Zacks Consensus Estimate for NCLH’s 2025 sales and earnings per share (EPS) indicates growth of 8.4% and 25.2%, respectively, from the year-ago levels.Carnival Corporation & plc CCL currently carries a Zacks Rank #2 (Buy). CCL has a trailing four-quarter earnings surprise of 326.4%, on average. The stock has surged 36% in the past year.The Zacks Consensus Estimate for CCL’s 2025 sales and EPS indicates growth of 4.3% and 23.2%, respectively, from the year-ago levels.Royal Caribbean Cruises Ltd. RCL currently carries a Zacks Rank #2. RCL delivered a trailing four-quarter earnings surprise of 16.2%, on average. The stock has surged 83.9% in the past year.The Zacks Consensus Estimate for RCL’s 2025 sales and EPS indicates growth of 9.5% and 23.8%, respectively, from the year-ago levels.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carnival Corporation (CCL): Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL): Free Stock Analysis Report Caesars Entertainment, Inc. (CZR): Free Stock Analysis Report Norwegian Cruise Line Holdings Ltd. (NCLH): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks