Caesars Entertainment
Caesars Entertainment Partners with Raynham Park to Open Caesars Sportsbook Retail Location in Massachusetts
Sports betting is on the way for sports fans in Massachusetts and Caesars Entertainment, Inc. announced plans to offer in-person sports betting through a partnership with Raynham Park, just south of Boston, pending approval by the Massachusetts Gaming Commission. The partnership marks Caesars’ first in-person foray into the Bay State and includes the eventual opening of a 30,000-square-foot Caesars Sportsbook retail location, which will become one of the largest free-standing race and sports wagering facilities in the US.
“Raynham Park is in an excellent location in southeast Massachusetts and will be one of just a few retail sports betting locations in the Commonwealth. It’s great to partner with the Carney family, which has a long history in the community and an exciting vision for a tremendous sports entertainment and pari-mutuel simulcasting facility. We look forward to showcasing the Caesars commitment to world-class experiences through this partnership,” Eric Hession, President of Caesars Digital, said.
Caesars Sportsbook at Raynham Park plans to open as a temporary sportsbook inside the current simulcasting facility before later moving nearby into one of the biggest standalone sports betting and pari-mutuel simulcasting establishments in the US, following regulatory approvals. The state-of-the-art sportsbook will feature an elevated atmosphere fit for a Caesar as part of a new building expected to be complete by the middle of this year.
“Caesars Sportsbook is the strongest retail sports gaming brand in the industry and we are extremely proud to announce our partnership. Our sportsbook will be one of the largest sports gaming destinations not only in Massachusetts, but in the United States. With Caesars’ legendary commitment to quality and integrity, Raynham Park will be a world-class venue that will set a new standard for gaming in Massachusetts,” said Raynham Park owner Chris Carney.
In addition to in-person sports wagering and horse racing simulcast wagering at Raynham Park, Caesars Sportsbook plans to launch on desktop and be available for download on iOS and Android devices. Caesars Sportsbook will be available to eligible Massachusetts sports fans when mobile sports betting goes live later this year since Caesars Sportsbook was found to have met the eligibility requirements for a temporary mobile sports betting license by the Massachusetts Gaming Commission. Once mobile sports wagering launches in Massachusetts, Caesars Sportsbook at Raynham Park will also offer Caesars Sportsbook mobile customers the added convenience of accepting Caesars Sportsbook mobile account cash deposits at the facility.
The Caesars Racebook app also recently launched for Massachusetts customers, offering a full horse racing wagering menu and livestreaming from racetracks around the world. Customers who wager with Caesars Sportsbook and Caesars Racebook can enjoy unparalleled access to unforgettable experiences available only through the industry-leading customer loyalty program Caesars Rewards.
This partnership brings together Raynham Park – with more than 80 years of gaming experience in Massachusetts – with an industry leader in responsible gaming and responsible gaming education in Caesars. Upon launching in the Commonwealth, Caesars Sportsbook will continue to emphasize responsible gaming education and the importance of customers staying in control of their play through tools available on the Caesars Sportsbook app, including Deposit Limits, Spending Limits, Daily Time Limits, and Cool Off Time Limits.
Brownstein Hyatt Farber and Schreck LLP
Caesars Entertainment Closes Sale of the LINQ Promenade
Caesars Entertainment announced the closing of the previously announced sale of the LINQ Promenade to a joint venture formed between TPG Real Estate (TPG) and the Investment Management Platform of Acadia Realty Trust (Acadia) for $275 million. Concurrent with the closing of the transaction, Caesars made a $275 million voluntary prepayment of the Term Loan B due 2030 with the proceeds from the transaction.
Latham & Watkins LLP and Brownstein Hyatt Farber and Schreck LLP represented Caesars on the transaction. Kirkland & Ellis LLP provided transaction counsel to TPG & Acadia.
Caesars Entertainment
Caesars Entertainment Enters into Definitive Agreement to Sell the LINQ Promenade
Caesars Entertainment has announced that it has entered into an agreement to sell the LINQ Promenade to a joint venture to be formed between TPG Real Estate (TPG) and the Investment Management Platform of Acadia Realty Trust (Acadia) for $275 million. The sale is subject to customary approvals and other closing conditions and is expected to close during the fourth quarter 2024.
“The sale of the LINQ Promenade represents an accretive, non-core asset sale that will accelerate our debt reduction goals. I want to thank all the team members and the tenants of the LINQ Promenade for their partnership over the last 10 years and wish them continued success,” said Tom Reeg, CEO of Caesars Entertainment.
Latham & Watkins LLP and Brownstein Hyatt Farber and Schreck, LLP represented Caesars on the transaction. Kirkland & Ellis LLP provided transaction counsel to TPG & Acadia.
Caesars Digital
Gaming Realms Launches Exclusive Blackjack Game on Caesars Entertainment’s iGaming Platforms
Gaming Realms, a leading provider of mobile-focused gaming content, has expanded its partnership with Caesars Entertainment with the launch of a new exclusive title, Caesars Blackjack X-Change.
Now live on Caesars Palace Online Casino and Caesars Sportsbook & Casino in New Jersey, Michigan, and Ontario. Caesars Blackjack X-Change is a reimagining of Gaming Realms’ popular Blackjack X-Change title, featuring a revamped aesthetic anchored by the Caesars brand and the excitement of the Las Vegas strip’s most iconic casino.
The game combines the thrill of traditional blackjack with an innovative X-change feature, allowing players to swap their cards between hands, adding a layer of depth and decision-making to classic blackjack gameplay. This title marks Gaming Realms’ second custom launch on Caesars’ digital platforms following the successful launch of Caesars Palace Slingo last year.
This latest collaboration emphasises Gaming Realms’ ability to provide localised content and branded games that align with operator and player needs. It follows other exclusive games made for leading operators worldwide such as MrQ, Superbet and Sky Betting & Gaming.
Gareth Scott, Chief Commercial Officer at Gaming Realms, said: “Our partnership with Caesars continues to be a resounding success, with players demonstrating a natural affinity for the strategic depth and variety offered by our portfolio. Building on the success of last year’s exclusive game, Caesars Blackjack X-Change is a natural progression in our ongoing collaboration and underscores the popularity of our titles with the operator.”
Matt Sunderland, Senior Vice President and Chief iGaming Officer at Caesars Digital, said: “The launch of Caesars Blackjack X-Change on our platforms is another example of the exciting custom game content we aim to bring to our players on a regular basis. Our partnership with Gaming Realms has continued to deliver innovative concepts and new titles for our players. This exclusive title is a fun spin on the classic live casino game beloved by many players that offers a fresh and engaging experience.”
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