Caesars Entertainment, Inc. CZR recently announced a collaboration with New York Mets, thereby naming Caesars Sportsbook as the latter’s official sports betting partner.
Per the agreement, Caesars Entertainment will have access to official New York Mets logos and marks, TV-visible in-game signage, broadcast and digital content. The association involves the integration of the company’s loyalty program, Caesars Rewards. This facilitates bettors to unlock unbeatable experiences within the Caesars portfolio of properties and partnerships.
The multi-year agreement includes the entitlement of a new sportsbook lounge at Citi Field, Caesars Sportsbook, comprising 13,000 square feet space, multi-tiered dining room and outdoor patio seating. The company anticipates opening the lounge during 2022 Major League Baseball season.
With respect to the collaboration, Chris Holdren, co-president of Caesars Digital, stated, "The Mets' fanbase is one of the most loyal in baseball and this partnership offers us the chance to treat those passionate fans like Caesars. We look forward to opening our space at Citi Field during an exciting time for the franchise."
More Focus on Partnerships & Expansion
Caesars Entertainment continues to focus on partnerships to drive growth. The company is committed to expanding relationships with leagues and professional sports teams. To this end, the company formed partnerships with NFL, NBA, NHL, MLB and several individual teams. It has collaborated with ESPN and CBS Sports as an exclusive odds provider. The company expanded its partnership with the Arizona Diamondbacks, Caesars Superdome, Fiesta Bowl Organization, Genius Sports Limited, NYRA Bets and Cleveland Cavaliers.
Caesars Entertainment continues to emphasize sports-betting expansion to drive growth. To this end, the company formed a new Caesars Digital segment comprising sports betting, iGaming and poker. As of Apr 6, 2022, the company operates sports betting in 23 jurisdictions, of which 17 are mobile. The company expects to complete the migration of its legacy up to Washington, D.C., Nevada, Pennsylvania and Illinois to the Liberty platform in 2022. The company stated that its expanded gaming portfolio would be supported by improvements in its in-app merging technologies.
Image Source: Zacks Investment Research
In the past year, shares of the company have declined 22.2% in the past year compared with the industry’s 18.7% fall.
Zacks Rank & Key Picks
Caesars Entertainment currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Consumer Discretionary sector are Funko, Inc. FNKO, RCI Hospitality Holdings, Inc. RICK and Bluegreen Vacations Holding Corporation BVH.
Funko sports a Zacks Rank #1 (Strong Buy) at present. FNKO has a trailing four-quarter earnings surprise of 96.2%, on average. Shares of the company have declined 22.4% in the past year.You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Funko’s current financial year sales and EPS (earnings per share) suggests growth of 22.6% and 26.8%, respectively, from the year-ago period’s reported levels.
RCI Hospitality carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 63.2%, on average. Shares of the company have declined 9.5% in the past year.
The Zacks Consensus Estimate for RCI Hospitality’s 2022 sales and EPS suggests growth of 33.9% and 19.6%, respectively, from the year-ago period’s levels.
Bluegreen Vacations presently carries a Zacks Rank #2. BVH has a trailing four-quarter earnings surprise of 425.1%, on average. The stock has increased 26.1% in the past year.
The Zacks Consensus Estimate for BVH’s current financial year sales and EPS indicates growth of 8.3% and 20.8%, respectively, from the year-ago period’s reported levels.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention.
Want 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
Caesars Entertainment, Inc. (CZR): Free Stock Analysis Report
RCI Hospitality Holdings, Inc. (RICK): Free Stock Analysis Report
Funko, Inc. (FNKO): Free Stock Analysis Report
Bluegreen Vacations Holding Corporation (BVH): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
