When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
ERI - Why Caesars Entertainment Shares Plunged 10.8% in the First Six Months of 2020
Caesars Entertainment Inc (New) Com
Shares of Caesars Entertainment(NASDAQ: CZR) fell 10.8% in the first half of 2020, according to data provided by S&P Global Market Intelligence, as the casino industry was thrown into turmoil. But it fared much better than most rivals for one big reason.
What saved Caesars' stock was the company's agreement to be bought out by Eldorado Resorts(NASDAQ: ERI). Caesars shareholders are to get $8.40 per share in cash and 0.0899 shares of Eldorado stock. Given where shares trade today, Caesars is actually overvalued slightly in relation to Eldorado.