Caesars Entertainment has announced its first branded live dealer studio in Pennsylvania.
The studio, developed in partnership with Evolution Gaming, serves players at the Caesars Palace Online Casino, Horseshoe Online Casino, and Caesars Sportsbook & Casino.
This Philadelphia-based studio offers a suite of live dealer games. The players can choose from multiple blackjack tables, one reserved for VIPs and one each of roulette and baccarat.
The tables are custom branded with Caesars Palace imagery and online casino designs. Some tables also feature co-branding with professional sports leagues.
In addition, a blackjack table exclusively available to VIPs offers a high-limit, one-on-one gaming experience.
Caesars Eyes Growth in Pennsylvania
Last October, Caesars introduced the Horseshoe Online Casino brand to Pennsylvania. It became the state's 23rd online casino, complementing the company's existing Tropicana and Horseshoe brands in the region.
Horseshoe Online Casino launched with a portfolio of nearly 700 slot games. Among the featured titles are Buffalo Thunder, Capital Gains, Pork Knox, Divine Fortune, and Ted. The online casino platform also offers 14 live dealer rooms, which provide access to blackjack, roulette, and other games. Interactive game shows like Lightning Roulette, Crazy Time, and Super Sic Bo are also available.
Online sports betting paying off
Besides focusing on its iGaming operations, Caesars has also reported growth in its online sports betting segment and is one of the main Pennsylvania betting sites.
During the third quarter of 2024, net sports betting revenues increased 36% compared to the same period the prior year. This was due to a higher hold rate, which rose to 8.6%, up 210 basis points year-over-year. Additionally, Caesars increased its sports betting handle by 14% year-on-year in Q3.
President of Caesars Digital, Eric Hession, said, “Keep in mind we didn’t have our app basically, with the exception of one month as we were putting it in for two months of the new quarter. Most of the upside from the new app is going to accrue in the fourth quarter and into next year.”
Caesars also highlighted expansion into new states and further states legalizing sports betting, new product launches, and better customer adoption. As of September 30, 2024, Caesars had sports betting operational in 32 jurisdictions across North America, of which 26 are mobile sports betting markets.
Enhancements to its mobile app, including advanced parlay options and cash-out features, contributed to higher customer retention and structural hold improvements.
In a recent release to shareholders, Caesars said it expects to clear a 10% structural hold threshold over the coming years. In fact, Caesars forecasts a steady ramp-up that will be led by continued development inside the app alongside new, interactive features for users.
Retention Drives Better Results
The company has also noted improvements in customer retention in both the online casino and sports betting segments. Caesars said the gains resulted from targeted marketing campaigns launched in April 2024.
By the end of the third quarter, Caesars was running 40 active campaigns across engagement and retention. These efforts will be refined further for added benefits in 2025.
Caesars added it would continue to focus on product innovations for further growth. Developments earmarked for investment include cash-out speed, customer service, and parlay and alternative line options.
