Yahoo Finance Caesars (CZR) Expands Mobile Wagering in North Carolina
Caesars Entertainment CZR launched its Caesars Sportsbook app statewide in North Carolina, following its successful introduction on tribal lands. This expansion underscores the company's commitment to tapping into the Tar Heel State's vibrant sports betting market. With thousands of game markets, prop bets and live betting options, the app provides an immersive sports wagering experience to users across North Carolina.
The integration with Caesars Rewards further enhances the appeal of the platform, offering users unparalleled rewards linked to their wagering activity. This loyalty program strengthens customer engagement and loyalty, driving long-term value for CZR.
Moreover, the convenient cash deposits and withdrawals at Harrah’s Cherokee Casino Resort and Harrah’s Cherokee Valley River Casino & Hotel provide users with seamless access to their funds, enhancing the overall user experience.
The expansion into North Carolina positions Caesars as a dominant player in the state's sports betting landscape, allowing it to capitalize on this region's passionate sports fanbase. With its user-friendly features and extensive betting options, the Caesars Sportsbook app is well-positioned to attract a significant user base, driving revenue growth for the company.
Overall, the statewide launch of Caesars Sportsbook in North Carolina represents a strategic move by Caesars to expand its market reach and solidify its position as a leader in the sports betting industry. Investors can expect this expansion to contribute positively to CZR's revenue growth and shareholder value in the coming quarters.
In the past year, the company’s shares have gained 75.6% compared with the industry’s growth of 14.3%.
CZR currently carries a Zacks Rank #3 (Hold).
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