CZR - Caesars Entertainment: Making Moves In iGaming
2025-01-27 17:21:25 ET
Summary
- Caesars Entertainment, Inc. is investing in online iGaming through the Horseshoe platform and a studio partnership with Evolution, as the company has continued to gain share of the market.
- The land-based performance is more mixed, with Q3 showing especial weakness in Caesars' regional casinos. The short-term outlook remains fragile.
- Caesars has made slow progress on the excessive debt through divestment and refinancing.
- I estimate 18% upside on CZR stock to a fair value of $40.9, representing an appropriate margin of safety.
Caesars Entertainment, Inc. ( CZR ) operates casinos in Las Vegas and regionally, and also operates online gambling sites in the US and Canada. The company has recently made additional efforts in iGaming as the company has penetrated market share in the category in the past couple of years. Caesars also continues to pay down debt slowly, while the operational outlook in land-based casinos remains quite weak over the short term....
Caesars Entertainment: Making Moves In iGaming