Caesars New Orleans Could Feel Taylor Swift Effect

Caesars Entertainment’s (NASDAQ: CZR) fourth-quarter financial results could derive benefit with some help from pop star Taylor Swift.

In a recent report to clients, JPMorgan analyst Joseph Greff noted the casino operator’s eponymous New Orleans property could be boosted by three dates of Swift’s “Eras Tour.” Those concerts are scheduled for October 25 through October 27 at Caesars Superdome. The gaming company’s relationship with the Superdome is primarily naming rights, but Greff says the Swift concerts could be positive catalysts for the operator’s casino hotel in the city.

Management called out significant strength at its New Orleans property for opening weekend, with more credit out for the weekend than for Super Bowl weekend, largely driven by Taylor Swift’s slate of shows at the Caesars Superdome,” observed the analyst.

The commentary on credit implies Swift fans aren’t just coming to New Orleans to see her. Some are visiting New Orleans with the intent of wagering at the revamped Caesars gaming venue.

Caesars Could Be Reexamining UAE Opportunities

Following meetings in Las Vegas with Caesars management, Greff said the operator could be reconsidering expansion plans in the United Arab Emirates (UAE).

“Given Wynn’s investor event was focused on its Middle East opportunity, we believe Caesars, like others, is actively pursuing something in the region,” added the analyst.

When Eldorado Resorts announced plans to acquire old Caesars in 2019, CEO Tom Reeg — now at the helm of the Caesars — said that international opportunities would have to be “stupendous” for the combined company to consider expansion outside the US. “Stupendous” is subjective, but there’s no denying the UAE is widely viewed as compelling within the global gaming industry.

Parlays Helping Caesars Sportsbook

Indicating that the acquisition of ZeroFlucs, announced in July, is paying off for Caesars Sportsbook, Greff noted the operator has boosted its parlay mix to the low 20% range this football season, up from the mid-teens last year.

Greff also noted that Caesars executives don’t expect any new states to approve iGaming legislation in 2025. Currently, just seven states — Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia – permit that form of wagering.