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By: fred weiss

fred weiss — Sat, 03 Oct 2020 12:45:02 +0000

I think the main reason for the purchase is in anticipation of an increasing number of US states that will allow both live and online sports betting. Regarding the money involved, remember August 2020 had way fewer people visiting NV and considerably less sporting events to bet on. Look 2019 numbers for a more accurate idea of profitability.

By: CanadianSting

CanadianSting — Fri, 02 Oct 2020 18:44:05 +0000

The Penn National Gaming – Barstool partnership has received a lot of interest amongst investors.
The other casinos likely need to be in that space too when betting on sports opens up further.

By: Ken Houghton

Ken Houghton — Fri, 02 Oct 2020 03:13:16 +0000

So, if Caesars is able to capture all of the sports book revenue now being earned by ALL the casino’s in Nevada ($17M monthly), then it will only take 16 years to get a return on their investment. All I can figure is that the $17M monthly must be what the casino’s make AFTER William Hill gets their cut. But, as Mike points out, why did they outsource in the first place?

By: Jackson

Jackson — Thu, 01 Oct 2020 11:13:48 +0000

“Caesars has about $8.8 billion in debt already, and this seems a hefty investment in a part of the casino business that brings in relatively little revenue.”

We’re in the middle of a global pandemic. Most reasonable people are staying out of casinos. Plus, the United States is effectively closed to foreign tourists.

Any company in that much debt shouldn’t be spending an additional $3.7 billion right now.

But, it’s good to know that Caesars won’t be seeking any public money to stay afloat should the pandemic cause them further financial stress. After all, if they can raise $3.7 billion, they shouldn’t need any public money in the form of grants or loans.

By: Mike Alexakis

Mike Alexakis — Wed, 30 Sep 2020 19:48:20 +0000

Recently Caesars outsourced their sports book management and operations, to William Hill, and forced their longtime employees to apply for their own jobs with William Hill, now they bought William Hill… Smells like rotten fish to me, this is corporate chair shifting that never in history works out well for regular folks, they did this because they can. Why would industry leader Caesars outsource to begin with, the first super sports book as big as a Costco store was built in Caesars Palace decades ago, I remember well my first visit there, it blew my mind… I am only an occasional sports bettor, but a giant sports fan. Anyone risking their rent money or gambling bankroll on games where idiot referee’s have to make snap decisions on action going a thousand miles per hour are nuts if you ask me, heck an NBA ref was convicted of fixing games. I bet golf, lunch money level, not sushi. Maybe there is a future of lavish riches for Caesars in sports betting, they sure dance around like Paula Abdul trying to make it happen…