Caesars (CZR) Ties Up With Baltimore Ravens for Sports Betting
Caesars (CZR) announces a multi-year partnership with Horseshoe Baltimore and Baltimore Ravens for the expansion of sports betting across the country.
Caesars Entertainment, Inc. CZR recently announced that it has entered a multi-faceted agreement with the Baltimore Ravens and Caesars Sportsbook for five years. This partnership will enable world-class sports book offerings, Caesars Sportsbook – naming rights throughout the club level of M&T Bank Stadium.
Per the agreement, Caesars Sportsbook will offer Ravens supporters and other sports fans an exclusive sports betting experience with its mobile app and retail sportsbook, which is currently under development at Horseshoe Casino Baltimore. Caesars Sportsbook’s convenient app combines mobile sports betting with best-in-class loyalty program, Caesars Rewards. This program rewards the bettor with Tier Credits as well as Reward Credits that can be enjoyed anywhere across Caesars’ portfolio of properties and partnerships.
With respect to the collaboration, Chris Holdren, Co-President of Caesars Digital, said, “We're excited to grow our strategic partnership with the Baltimore Ravens by serving as the two-time Super Bowl champions' official sports betting partner and expanding our role as the team's only casino partner.”
Moreover, this association will strengthen Caesars, Ravens and Horseshoe Baltimore’s ability to provide its guest with more legendary experiences. This will not only increase the fan activation but will also expand diversified entertainment networks in districts unavailable to sports fans in other NFL markets.
Partnerships Driving Growth
Caesars continues to focus on partnerships to drive growth. Most recently, the company announced a strategic partnership with Genius Sports Limited to boost its NFL-backed sportsbook offerings. Fiesta Bowl Organization is another addition to Caesars’ list of growing sports relationship.
Additionally, the company expanded its partnership with the Arizona Diamondbacks, Caesars Superdome and the National Football League. Furthermore, William Hill, which is part of Caesars, has opened its first sportsbook inside the U.S. sports complex at the world-famous Capital One Arena in 2020. On Aug 12, 2021, the company announced a collaboration with an American football team — Houston Texans — making it its official casino partner.
So far this year, shares of Caesars have gained 42.5% compared with the Zacks Leisure and Recreation Services industry’s 14.1% growth. The company is benefitting from improving occupancy and booking trends backed by solid operational executions. The company has a robust earnings surprise history, having surpassed the Zacks Consensus Estimate in five of the trailing seven quarters.
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Zacks Rank & Key Picks
Caesars has a Zacks Rank #3 (Hold). Some better-ranked stocks in the Zacks Leisure and Recreation Services industry include Bluegreen Vacations Holding Corporation BVH, SeaWorld Entertainment, Inc. SEAS and RCI Hospitality Holdings, Inc. RICK. Bluegreen Vacations and SeaWorld Entertainment sport a Zacks Rank #1 (Strong Buy), while RCI Hospitality has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bluegreen Vacations and SeaWorld Entertainment’s earnings for 2021 are expected to surge 172% and 176.4%, respectively.
RCI Hospitality’s earnings for fiscal 2021 are expected to rise 523.5%.
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