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Caesars Sportsbook Enhances Mobile Wagering Experience in Nevada with the Launch of Universal Digital Wallet

1. Caesars launched a universal digital wallet in Nevada for sports betting. 2. Wallet integrates funds and rewards, enhancing user experience across 19 jurisdictions. 3. Existing users can access their account seamlessly across different states. 4. Caesars Sportsbook continues enhancing features since its 2021 launch. 5. Company emphasizes Responsible Gaming practices across all platforms.

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FAQ

Why Bullish?

The universal wallet upgrade enhances user experience and operational efficiency, likely increasing customer engagement and betting volume, akin to past successful tech upgrades in similar businesses like DraftKings.

How important is it?

This article highlights a significant technological advancement that could enhance user retention and attract new clients, influencing CZR’s market position positively.

Why Short Term?

Initial effects from the wallet launch can elevate immediate engagement, but substantial long-term impacts depend on further market expansion.

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LAS VEGAS--(BUSINESS WIRE)--Caesars Entertainment, Inc. (NASDAQ: CZR) today announced a major upgrade to its mobile sports betting platform with the launch of a universal digital wallet on the Caesars Sportsbook app in Nevada. This enhancement streamlines the wagering experience for sports bettors who visit Nevada, enabling them to manage funds and Caesars Rewards® credits in one place, with seamless access across 19 jurisdictions where Caesars Sportsbook offers mobile sports wagering. With this update, users in Nevada can experience added convenience, with all funds and rewards immediately visible and available after logging in. Caesars plans to add universal wallet functionality to more North American jurisdictions where it offers mobile sports wagering in the future. “We’re always looking for ways to make things easier and more seamless for our players,” said Eric Hession, President of Caesars Digital. “The launch of our universal wallet in Nevada is a significant step forward and a long-anticipated enhancement that brings greater convenience and connectivity to our mobile app. With this update, sports bettors who visit Nevada and our world-class destinations on the Las Vegas Strip or beyond can enjoy a consistent experience wherever they go, with their account, funds, and rewards all in one place, just as it should be.” Customers 21 and older who sign up and are verified for a Caesars Sportsbook mobile account in Nevada can use the app when they return home or travel to any jurisdiction where the Caesars Sportsbook mobile app is live and sign in with their universal set of login credentials. Similarly, customers who already have an existing Caesars Sportsbook mobile account from another state can use their universal wallet in Nevada, once it’s validated at any in-person Caesars Sportsbook location in Las Vegas, Reno, Lake Tahoe, and many more. Universal wallet functionality is currently available through Caesars Sportsbook in 19 jurisdictions, including Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Nevada, New York, North Carolina, Ohio, Tennessee, Virginia, Washington D.C., West Virginia, and Wyoming. Since its launch in 2021, the Caesars Sportsbook mobile app has continued to enhance its user experience through regular updates and feature expansions. The app currently features a comprehensive sports wagering menu that includes same-game parlays, player props, futures, and live in-play betting markets. Sports fans can enjoy livestreaming of thousands of events, including NFL games, within the Caesars Sportsbook app. Available to users aged 21 and older, the platform reflects Caesars Entertainment’s ongoing commitment to delivering world-class hospitality and a high-quality, regulated sports betting experience. Caesars Entertainment is an industry leader in Responsible Gaming, known for pioneering Responsible Gaming awareness and education. In 1989, Caesars became the first commercial casino company to address problem gambling by launching the industry’s first Responsible Gaming program, Project 21. Today, the Company’s commitment to ensuring all players are aware of Responsible Gaming resources remains steadfast and spans all of Caesars’ digital platforms and world-class destinations in which it operates. Caesars Entertainment proudly enforces an enhanced 21+ gaming policy that prevents individuals under the age of 21 from using Caesars Rewards and restricts access to its gaming products for individuals under the age of 21. In March 2024, Caesars Sportsbook received the prestigious RG Check accreditation from the Responsible Gambling Council in Ontario, Canada, which recognizes companies that achieve the highest standards for their Responsible Gaming practices. Just a few months later, the Company was awarded the National Council on Problem Gambling’s award for Corporate Social Responsibility. For more information about Caesars Entertainment's Responsible Gaming program, please visit https://www.caesars.com/corporate. About Caesars Entertainment, Inc. Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment Company in the U.S. and one of the world’s most diversified casino-entertainment providers. Since its beginning in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.’s resorts operate primarily under the Caesars®, Harrah’s®, Horseshoe®, and Eldorado® brand names. Caesars Entertainment, Inc. offers diversified gaming, entertainment and hospitality amenities, one-of-a-kind destinations, and a full suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the Company focuses on building value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. Know When To Stop Before You Start.® Gambling Problem? Call or text 1-800-GAMBLER. For more information, please visit www.caesars.com/corporate. Responsible Gaming Nevada Must be 21 or older to gamble. Know When To Stop Before You Start®. Gambling Problem? Call 1-800-GAMBLER, text 800426, or visit 1800gamblerchat.org. More News From Caesars Entertainment, Inc.

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