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LAS VEGAS - Caesars Entertainment, Inc. (NASDAQ:CZR), currently trading at $29.92 and showing strong returns over the past three months according to InvestingPro data, announced Monday the launch of its third branded online casino live dealer studio, now available to players in Michigan across its digital platforms including Caesars Palace Online Casino and Horseshoe Online Casino.
The new studio, developed in partnership with Evolution, follows Caesars’ earlier 2025 studio launches in Pennsylvania in January and at Tropicana Atlantic City in New Jersey in April. With annual revenue of $11.3 billion and an EBITDA of $3.6 billion in the last twelve months, Caesars continues to expand its digital footprint despite operating with a significant debt burden.
The Michigan facility features five blackjack tables, including a VIP-exclusive table, one roulette table, and one baccarat table. The tables display custom-branded felts showcasing Caesars’ destinations and online casino platforms.
"Our third live dealer studio expands our fully customized live dealer experience that is already extremely popular in Pennsylvania and New Jersey into another key jurisdiction where our online casino platforms are live," said Matthew Sunderland, Senior Vice President and Chief iGaming Officer at Caesars Digital.
The studio design draws inspiration from Caesars Palace in Las Vegas, according to the company’s press release statement. Select tables feature custom felts co-branded through partnerships with professional sports teams.
Marcus Huber, Chief Commercial Officer of Evolution North America, said the studio "brings the unmistakable character of Caesars’ iconic destinations to the online space."
Caesars’ online casino platforms are available in New Jersey, Pennsylvania, Michigan, Ontario, and West Virginia for users 21 and older. The platforms integrate with the company’s Caesars Rewards loyalty program, allowing players to earn credits redeemable at Caesars’ physical locations.
The company maintains responsible gaming policies across its platforms, including a 21+ gaming policy and various player protection measures. In March 2024, Caesars Sportsbook received RG Check accreditation from the Responsible Gambling Council in Ontario.
In other recent news, Caesars Entertainment has seen a series of notable developments. CFRA raised its price target for Caesars Entertainment to $50.00, maintaining a Hold rating, based on expectations of stable financial performance and a steady growth environment. Meanwhile, JMP Securities upheld its Market Outperform rating for Caesars, citing potential revenue boosts from new tax legislation benefiting tipped employees, which could positively impact the company’s earnings in the upcoming quarters. Goldman Sachs initiated coverage with a Buy rating and a $36.00 price target, highlighting favorable conditions in Las Vegas and expected significant free cash flow generation over the next three years. Additionally, JPMorgan started coverage with an overweight rating and a $47.00 price target, emphasizing Caesars’ potential to generate substantial free cash flow through 2027 and identifying the company’s digital operations as a strength. In a move to enhance user experience, Caesars launched a universal digital wallet for its Nevada sportsbook app, allowing seamless fund management across 19 jurisdictions. These developments indicate a period of strategic growth and adaptation for Caesars Entertainment as it navigates the evolving market landscape.
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