• Loading stock data...
Monday, August 25, 2025
Front Office Sports Honors winners are here! View the 2025 winners

Caesars Looks to Sports Betting to Bolster Business

  • Caesars is looking at sports betting to bolster its casino business.
  • Its casino business generated $1.5 billion in revenue in Q3 2021.
Caesars/Design: Alex Brooks

Traditional casinos are at the heart of Caesars Entertainment’s business, but the company continues to make strides in sports betting.

Hampered by Caesars casino closings during the quarter caused by Hurricane Ida and California wildfires, the potential of online sports betting has become increasingly apparent. 

  • The company completed its acquisition of sportsbook William Hill in April for $4 billion.
  • It launched its sportsbook app in 11 states with Arizona and Maryland pending review.
  • It expects to be profitable in sports betting by the 2023 football season.

Caesars pocketed $2.69 billion in total revenue in Q3 2021, up from $1.44 billion for the same period a year prior. 

Last year, Caesars merged with Eldorado Resorts in a deal valued at $17 billion, creating the largest casino and entertainment company in the U.S. 

The combined company operates more than 55 casino properties worldwide, including eight hotel properties in Las Vegas, one of which it plans to sell early next year to help alleviate debt.

Caesars isn’t far behind its rival MGM Resorts, which reported $2.7 billion in revenue in Q3 2021, a 140% increase year-over-year, in its latest earnings report on Wednesday.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Chris ‘The Bear’ Fallica on Fox Changes, New Studio, Working With Portnoy

Fallica is in his third year as Fox’s sports betting expert.
Dec 18, 2024; Inglewood, CA, USA; UNLV Rebels defensive back Rashod Tanner (41) celebrates after defeating the California Golden Bears in the LA Bowl at SoFi Stadium.

Robinhood Reactivates Sports Contracts in NJ and NV, Sues State Regulators

The suits were filed the same day Robinhood announced new football offerings.
Jan 20, 2025; Atlanta, GA, USA; Ohio State Buckeyes running back Quinshon Judkins (1) and quarterback Will Howard (18) celebrate after a touchdown against the Notre Dame Fighting Irish during the second half the CFP National Championship college football game at Mercedes-Benz Stadium.

Robinhood to Roll Out Football Prediction Markets

The new event contracts come on the heels of Kalshi’s expanded football offerings.
Oklahoma's John Mateer warms up during football practice for the University of Oklahoma Sooners in Norman, Okla., Wednesday, Aug., 6, 2025.

Cybersecurity Experts Warn Athletes Against Public Venmo Accounts

Venmo “can expose patterns of spending, locations, and relationships.”

Featured Today

The Honey Deuce Effect: How Tennis Perfected the Signature Cocktail

Sold every 1.5 seconds, they total more than $12 million in sales.
Dec 21, 2024; Austin, Texas, USA; Texas Longhorns quarterback Arch Manning (16) warms up as the Texas Longhorns prepare to play the Clemson Tigers in the first round of the College Football Playoffs at Darrell K Royal Texas Memorial Stadium.
August 23, 2025

Schools Are Hesitant to Allow PE Into Their Athletic Departments

Regardless of budget, schools don’t believe the risk is worth the reward.
Oct 2, 2024; Rosemont, IL, USA; Big Ten commissioner Tony Petitti speaks with the media during the 2024 Big Ten Women’s Basketball media day at Donald E. Stephens Convention Center.
August 22, 2025

‘Not Ready to Jump In’: Power 4 Commissioners Aren’t Sold on PE

Top leaders in college sports have yet to see a satisfactory proposal.
Nov 23, 2024; Minneapolis, Minnesota, USA; Penn State Nittany Lions head coach James Franklin looks at quarterback Drew Allar (15) during the first quarter against the Minnesota Golden Gophers at Huntington Bank Stadium.
August 22, 2025

Private Equity Enters College Sports—Without the Equity

As college football starts, lending agreements have become PE’s best way in.
Malik Beasley

Malik Beasley Could Still Be Charged in Gambling Probe Despite Feds Dropping..

Beasley’s lawyer is hoping his client can return to the NBA.
August 18, 2025

Limitations on Prop Bets Supported by NBA, Players’ Union

The union is trying to combat online and in-person harassment.
A view of the FanDuel Sportsbook betting area at Belterra Park Cincinnati.
August 20, 2025

FanDuel Enters Prediction Markets, but With No Sports

The company is partnering with derivatives exchange CME Group.
Sponsored

Building A Pro League From Scratch

Front Office Sports and Gainbridge® spotlight what it takes to build a professional women’s soccer league.
Feb 9, 2025; New Orleans, LA, USA; Philadelphia Eagles quarterback Jalen Hurts (1) against the Kansas City Chiefs during Super Bowl LIX at Ceasars Superdome.
exclusive
August 18, 2025

Kalshi Adds Touchdown Props, Over/Unders Amid Legal Uncertainty

The company is not cowed by its legal challenges.
Feb 5, 2025; New Orleans, LA, USA; The ESPN logo at the Super Bowl LIX media center at the Ernest N. Morial Convention Center.
August 15, 2025

New ESPN App to Feature Heavy Betting Integration

The new app launches Aug. 21.
Mar 21, 2025; Milwaukee, WI, USA; Illinois center Tomislav Ivisic (13) attempts to block Xavier guard Dailyn Swain (3) during the second half of their first round NCAA men’ s basketball tournament game at Fiserv Forum.
August 12, 2025

Kalshi, Polymarket Competitor Novig Lands $18M in Funding

Joe Montana is among Novig’s investors.
Emmanuel Clase
August 12, 2025

Ohio Moving to Ban Prop Bets Amid Guardians Gambling Investigation

Ohio’s governor said prop betting has “failed badly” in the U.S.