Caesars’ stock has been a winner since launching new NBA slot game

The casino entertainment group is cashing in on its digital gambling and sports betting divisions as Vegas revenues slump.

Millie Giles

4/28/25 10:04AM

In the online gambling business, sometimes it pays to shoot your shot. Caesars Entertainment, Inc., which claims to be the largest casino entertainment company in the US, launched a new NBA-themed slot game last Wednesday — helping its stock gain almost 14% over the last week.

With the NBA playoffs now playing out on court (and our screens), the online game, which features NBA branding and visuals, was created in collaboration with Games Global as part of Caesars Entertainment’s multiyear partnership with the basketball behemoth.

The news comes as Caesars’ online gambling arm continues its yearslong winning streak. Since Caesars Entertainment Corporation was acquired by Eldorado Resorts in 2020 as part of its bankruptcy reorganization, annual revenue for the group’s gaming and sports betting operations segment, Caesars Digital, has ballooned, topping more than $1.1 billion last year. In fact, digital was the only one of the company’s divisions that grew in FY24.

Sides of the coin

The group’s digital gaming efforts, which include Caesars Sportsbook, Caesars Racebook, and other online casino apps, have been a bright spot for some time, burgeoning alongside a national boom in online gambling. Indeed, reports emerged in February that the entertainment giant is considering spinning off its digital business into its own publicly traded entity due to its exceptional growth.

But with digital gambling soaring, what happens in Vegas? While the Caesars brand is famed for its presence in the Nevada city — in particular, world-renowned hotel and casino Caesars Palace, though Caesars now leases this property from its new owner — net annual revenue from its Las Vegas segment declined last year.

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Netflix’s charm offensive appears to be working.

Netflix is reportedly emerging as the leader in the bidding war for Warner Bros. Discovery after second-round bids this week, edging out entertainment juggernaut rivals Comcast and Paramount Skydance.

Investors don’t appear psyched by the streaming leader’s turn of fortune: the stock is down on Thursday morning, a day after closing down nearly 5% following reports that scooping up HBO Max wouldn’t necessarily result in a big market share boost.

Paramount, which has reportedly made five bids for Warner Bros. Discovery, doesn’t love the current state of play, either. The company sent WBD a letter questioning the “fairness and adequacy” of the process, highlighting reports that WBD’s board favors Netflix and is resisting Paramount.

Any offer would be subject to regulatory approval — a fact that may have weighed against Netflix’s offer given that cofounder Reed Hastings’ politics are vocally to the left, very much at odds with the current regulatory regime. Paramount seems confident in its ability to get approval, reportedly boosting its breakup fee to $5 billion should its potential acquisition fall apart in the regulatory process.

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Delta says the government shutdown will cost it $200 million in Q4

The 43-day government shutdown that ended last month will result in a $200 million ding for Delta Air Lines, the airline said in a filing on Wednesday.

That’s about $100,000 per shutdown-related canceled flight. (Delta previously said it canceled more than 2,000 flights due to FAA flight reductions.) When the company reports its fourth-quarter earnings, the shutdown will lop off about $0.25 per share.

Delta initially stayed calm about the shutdown, with CEO Ed Bastian stating in early October that the company was running smoothly and hadn’t seen any impacts at all. One historically long shutdown later, Delta wasn’t able to remain untouched.

The skies have since cleared, though, and Delta’s filing states that booking growth has “returned to initial expectations following a temporary softening in November.”

Delta’s shares were up over 2% as of Wednesday’s market open.

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The skies have since cleared, though, and Delta’s filing states that booking growth has “returned to initial expectations following a temporary softening in November.”

Delta’s shares were up over 2% as of Wednesday’s market open.

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