Sports betting operator Caesars Sportsbook announced an expansion into the Summerlin area of western Las Vegas thanks to a partnership with Rampart Casino.
If regulatory approval is given, the sportsbook will open in 2026, replacing Rampart’s current sportsbook, according to KSNV News 3.
Key Takeaways
- Caesars Sportsbook plans to launch a retail sportsbook at Rampart Casino in Summerlin.
- It would be Caesars’ first physical sportsbook location in the community.
- The expansion comes as Caesars' Q3 revenue remains flat year-on-year.
The launch would be Caesars Sportsbook’s first retail presence in the Summerlin master-planned community. Eric Hession, president of Caesars Digital, explained the rationale behind the launch, citing high demand in the area.
“We know there is pent-up demand in the Summerlin community for the quality and depth of our sports betting product, and Rampart is the perfect partner to reach the sports fans in this area,” Hession said in a statement.
Rampart Casino officials announced the change would entail upgrades to the existing sportsbook area, including a video wall, LED displays, and 20 self-service betting terminals. Vice president and general manager at Rampart Casino, Michelle McHugh, said Caesars was chosen after an extensive search for a new sportsbook partner.
“As part of the exciting investments and upgrades we’ve made across the property, we underwent an extensive process to select the right sports betting partner to bring a best-in-class product and technology, brand, and service to the property,” McHugh said.
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Caesars earnings flat as Las Vegas struggles
The Summerlin expansion comes at the same time as Caesars Entertainment faces flat earnings, with third-quarter net revenue reaching $2.9 billion, showing little change from the same period the previous year.
Caesars’ stock had also dropped after the latest earnings release, and shares have fallen by more than 40% year-to-date. Las Vegas operations appeared to be a key drag on results. Net revenue fell 10% to $952 million, and net profit was down 40% to $132 million.
Speaking about the results, chief executive officer of Caesars Entertainment, Tom Reeg, told investors the overall poor performance of the Vegas leisure sector was still affecting profits.
“We’re now four months into this step-down in leisure demand for Vegas, and while we’re better than we were in July, we’re still not back to where we were on a year-over-year basis,” he said.
Tourism decline and broader economic pressures have also contributed to poor performances across the Vegas entertainment sector. Reeg also highlighted the unusually poor table-game hold results, which impacted the quarterly figures by around $30 million.
Regionally, Caesars was able to show a 6% increase in revenue to $1.5 billion, although profits fell by 55% to $56 million. The company’s online operation, Caesars Digital, showed a small growth in revenue, but while it remained profitable year-to-year, it recorded a $21-million profit loss for the quarter.
