CZR - Noteworthy Insider Activity: Michael Pegram Invests $1.46M In Caesars Entertainment Stock | Benzinga
Disclosed in the latest SEC filing, a significant insider purchase on May 7, involves Michael Pegram, Director at Caesars Entertainment (NASDAQ:CZR).
What Happened: In a Form 4 filing on Tuesday with the U.S. Securities and Exchange Commission, it was disclosed that Pegram bought 40,000 shares of Caesars Entertainment, amounting to a total of $1,455,734.
In the Wednesday's morning session, Caesars Entertainment's shares are currently trading at $36.01, experiencing a down of 0.94%.
Unveiling the Story Behind Caesars Entertainment
Caesars Entertainment includes about 50 domestic gaming properties across Las Vegas (49% of 2023 EBITDAR before corporate expenses) and regional (48%) markets. Additionally, the company hosts managed properties and digital assets, the later of which produced marginal EBITDA in 2023. Caesars' US presence roughly doubled with the 2020 acquisition by Eldorado, which built its first casino in Reno, Nevada, in 1973 and expanded its presence through prior acquisitions to over 20 properties before merging with legacy Caesars. Caesars' brands include Caesars, Harrah's, Tropicana, Bally's, Isle, and Flamingo. Also, the company owns the US portion of William Hill (it sold the international operation in 2022), a digital sports betting platform.
Key Indicators: Caesars Entertainment's Financial Health
Revenue Challenges: Caesars Entertainment's revenue growth over 3 months faced difficulties. As of 31 March, ...