Caesars Remains Committed to Reducing Debt

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 Debt
Caesars Palace on the Las Vegas Strip. The operator continued reducing debt, but analysts are tepid on the stock. (Image: Getty Images)

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

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