Casino

Caesars Entertainment Inc Up 1.04% To $49.78 After Earnings Miss

Thursday 04 de August 2022 / 12:22

⏱ 1 min read

(United States).- Caesars Entertainment Inc (CZR) said after close Tuesday that it earned $0.16 per share in quarter two 2022.

Caesars Entertainment Inc Up 1.04% To $49.78 After Earnings Miss

On the revenue line, the company reported $2.8 billion, beating estimates by $51 million.

In the same quarter a year ago, the company earned $0.59 per share on revenue of $2.5 billion.

The stock is up 1.04% to $49.78 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Caesars Entertainment Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 38. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Caesars Entertainment includes around 50 domestic gaming properties across Las Vegas (50% of 2021 EBITDAR before corporate and digital expenses) and regional (63%) markets. Additionally, the company hosts managed properties and digital assets, the later of which produced material EBITDA losses in 2021. Caesars' U.S. 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 U.S. portion of William Hill (it plans to sell the international operation in 2022), a digital sports betting platform.