#6 - Caesar’s Entertainment (NASDAQ:CZR)
Last but certainly not least among sports betting/casino stocks is Caesar’s Entertainment (NASDAQ:CZR). On the plus side is the company’s enormous footprint. It is the nation’s largest casino operator. One of the strengths of Caesar’s business model is that many of its properties are reachable by car. This meant that once casinos opened, the company didn’t have to rely on gamblers getting on an airplane. But when they do, Caesar’s is the second largest operator in Las Vegas.
And it has been incredibly adept at finding ways to manage costs and drive revenue, a skill set that helped the company weather the Covid-19 pandemic.
And with the company’s recent acquisition of William Hill (OTCMKTS:WIMHY), it has a large customer base to monetize. It remains to be seen if Caesar’s will follow through on its intention to sell the international arm of the William Hill business. That would help lower the $3.69 billion purchase price.
The addition of sports betting will only enhance the prospect for CZR stock which is already up 32% in 2021.
About Caesars Entertainment
Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.
Read More - Current Price
- $32.82
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 12 Buy Ratings, 1 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $53.71 (63.7% Upside)
