Caesars Entertainment (CZR, Financial) experienced significant stock volatility, with a 5.00% drop in share price. The stock is currently priced at $37.04 per share, with a trading volume of approximately 2.54 million shares and a turnover rate of 1.20%. The stock's amplitude was recorded at 4.87%.
The latest financial reports reveal that Caesars Entertainment generated $2.874 billion in revenue, with a net loss of $9.00 million, translating to an earnings per share of -$0.04. The company's gross profit was $1.193 billion, and it holds a price-to-earnings ratio of -22.06. Among the 19 institutions that rated the stock, 74% recommended a buy, 16% suggested holding, and 10% advised selling.
In the broader casino and gaming industry, the sector saw an average decline of 1.32%. Within the industry, stocks like Red Rock Resorts, Inc., Golden Entertainment, and Bally's Corporation showed notable gains. Meanwhile, stocks including Wynn Resorts, Caesars Entertainment, and Penn National Gaming demonstrated high activity levels, with turnover rates at 1.79%, 1.20%, and 0.69%, respectively. Stocks with significant amplitude included Melco Resorts & Entertainment, Caesars Entertainment, and Wynn Resorts, with amplitudes of 5.62%, 4.87%, and 4.24% respectively.
Caesars Entertainment, a major player in the casino industry, operates around 50 domestic casinos primarily in Las Vegas and other regional markets. In 2023, Las Vegas operations contributed to 49% of the company's EBITDAR before corporate expenses, while regional markets accounted for 48%. The company also manages hospitality properties and digital assets. Initially founded as Eldorado in Reno, Nevada, in 1973, it expanded through acquisitions and merged with the traditional Caesars business. Its well-known brands include Caesars, Harrah’s, Tropicana, Bally’s, Isle, and Flamingo. Additionally, Caesars owns the U.S. operations of the digital sports betting platform William Hill, following the sale of William Hill's international business in 2022.
