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Caesars (CZR) Boosts Partnership With Nobu, Expands Footprint

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Caesars Entertainment, Inc. (CZR - Free Report) recently announced the expansion of its collaboration with Nobu Hospitality, with two new Nobu Hotels and restaurants at Harrah's New Orleans and Caesars Atlantic City, a Nobu restaurant at Paris Las Vegas and a refresh of the first Nobu Hotel at Caesars Palace, Las Vegas.

Nobu hotels feature a mixture of modern luxury with a touch of Japanese tradition in their products and services. Hotels of each location will have a blend of local features, along with Nobu's signature style. A Nobu restaurant and lounge at Paris Las Vegas is expected to open in early 2022 and Nobu Hotel Atlantic City is anticipated to open in the summer of 2022. Furthermore, Nobu Hotel and restaurant at New Orleans  are expected to open in 2024.

With respect to the collaboration, Gary Selesner, president of Caesars Development, said, “We couldn't be happier to have the opportunity to raise that bar with Chef Nobu, Robert and Meir. Together, we will create incredible new experiences steeped in Nobu's signature style and sophistication to Las Vegas, Atlantic City and New Orleans.”

This association between Caesars and Nobu Hospitality has brought the concept of the world's first celebrity-branded hotel raising the bar of the overall hotel industry.

Continuous Partnerships Boosting Expansion

Caesars Entertainment continues to focus on partnerships to drive growth. Earlier, the company expanded its partnership with the Arizona Diamondbacks and Caesars Superdome. It is committed toward expanding its relationships with leagues and professional sports teams.

On Aug 12, 2021, the company announced a collaboration with an American football team — Houston Texans — which has made Caesars Entertainment its official casino partner. Fiesta Bowl Organization is the most recent addition to Caesars Entertainment’s list of growing sports relationships. The company emphasizes on sports betting expansion. To this end, the company formed a new Caesars Digital segment comprising of sports betting, iGaming and poker. It also integrated its digital offerings with Caesars Rewards, at both online and physical casinos. As of Jun 30, 2021, the company operates sports betting in 17 states (plus Washington, D.C.), out of which 13 offer mobile sports betting.

Currently, Caesars has a Zacks Rank #3 (Hold). So far this year, shares of Caesars have gained 41.4% compared with the Zacks Leisure and Recreation Services industry’s 10.2% growth.

 

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3 Leisure Stocks Worth Buying

A few better-ranked stocks in the same industry include Bluegreen Vacations Holding Corporation (BVH - Free Report) , SeaWorld Entertainment, Inc. (SEAS - Free Report) and RCI Hospitality Holdings, Inc. (RICK - Free Report) . Bluegreen Vacations and SeaWorld Entertainment sport a Zacks Rank #1 (Strong Buy), while RCI Hospitality has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Bluegreen Vacations and SeaWorld Entertainment’s earnings for2021 are expected to surge 172% and 176.4%, respectively.

RCI Hospitality’s earnings for fiscal 2021 are expected to rise 523.5%.