CZR - 1 Main Capital - Caesars Entertainment: Digital Profitability Should Drive Stock Higher

2024-05-03 04:00:00 ET

Summary

• Caesars Entertainment has experienced significant growth in EBITDAR, with nearly $1 billion coming from cost synergies and improved revenue optimization.
• The company's EBITDAR is expected to reach nearly $4 billion in 2023, translating into over $2.6 billion of EBITDA and $1 billion of maintenance free cash flow.
• Caesars Entertainment has made substantial investments in new and existing growth projects, both in physical properties and digital marketing, with expectations of future earnings potential.

The following segment was excerpted from this fund letter.

Caesars Entertainment ( CZR )

Caesars Entertainment is one of the largest and most iconic gaming and hospitality companies in the US, with 52 properties across 18 states. The company's hotels, restaurants, bars, entertainment, racing, retail shops and other services attract gaming customers. The physical properties and associated loyalty program also help the company acquire customers for its online sports betting (OSB) and online gaming (iGaming) platform....

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