Posted on: November 1, 2023, 03:24h.
Last updated on: November 1, 2023, 03:24h.
Caesars Entertainment (NASDAQ: CZR) impresses with strong Q3 financials
Caesars Digital reports $2 million EBITDA profit, reducing debt to $12.45 billion
Morningstar analyst optimistic about Caesars’ debt reduction efforts and investments in digital sports and iGaming markets
Caesars not expected to engage in stock buybacks or pay dividends until 2026
Analysts cautious but supportive of Caesars’ future prospects
Caesars stock has declined by 5% this year
Several analysts cut price targets on Caesars after Q3 earnings release, but CFRA Research analyst upgrades stock to “hold”
Analysts highlight potential boost in property-level margins and upcoming events in Las Vegas as catalysts for Caesars’ recovery
Positive developments on the horizon for Caesars
Construction of new permanent casinos in Columbus, Nebraska and Danville, Virginia, as well as an overhaul of Caesars Palace New Orleans, expected in 2024