Jamul Casino Closing ster district of the capital city this past week. Caesars Entertainment (NASDAQ:CZR) delivered its first earnings update as the largest US gaming company Thursday after the close of US markets. nugget casino resort reno buffet As expected, the June quarter numbers were dreadful because of the coronavirus shutdown, prompting analysts to focus more on management commentary. Caesars Palace Las Vegas, seen here, may be slow for a while, but analysts like the opportunity with the new Caesars stock. Is Joe Pool Lake Open During Covid 19 Wggp (Image: Richard Brian/AP)Some members of the sell-side community liked what Caesars CEO Tom Reeg and other executives had to say on yesterday’s conference call.

The post-earnings chatter on the name is broadly positive, with price forecasts well in excess of current levels. On the call, Reeg created some buzz in discussing the new Caesars broad online casino and sports wagering business, noting that a decision on that segment could be revealed before the end of 2020, while saying it could generate 0 million to 0 million in revenue next year. We believe investors misunderstand CZR’s value regarding iGaming and sports betting,” said Macquarie analyst Chad Beynon in a note to clients today. seneca niagara casino commercial “With a strong economic partnership with William Hill and 100% economics for iGaming, we believe CZR’s 60 million loyalty members could be worth ~ per share. ”Due to a long-standing relationship with the old Eldorado Resorts — the company that acquired Caesars — William Hill will run the new Caesars’is the seneca niagara casino closing sportsbooks. slot casino bola

Key Insights and Expert Analysis

Caesars is entitled to 50 percent of earnings before interest, taxes, depreciation and amortization (EBITDA) under that agreement, according to Beynon. 7 card poker games free online cashman casino email Meeting Las Vegas ChallengesThe new Caesars has an extensive portfolio of regional casinos, providing some buffer against the current headwinds operators are facing in Las Vegas. mohegan sun casino nj In Sin City, the company runs six integrated resorts, a trait some investors view as a drag at a time when many would-be visitors are skittish about traveling because of the COVID-19 pandemic. Sunset Station Casino Bowling Qvxs Some analysts see things differently. The LV assets’ performance is exceeding our expectations, with every reopened property generating positive EBITDA and solid hotel occupancy,” said Stifel analyst Steven Wieczynski, long a noted Caesars bull.

Wieczynski, who believes the new Caesars can eventually become a 0 stock, notes investor sentiment on Las Vegas is “incredibly negative,” and that’s weighing on the stock. However, he said Reeg and team delivered a compelling case for the strength of the Strip portfolio. On yesterday’s conference call, Reeg said it’s still in the plans to sell a Strip asset, though that timeline could be extended to 18 months from the original forecast of a year after closing the takeover. santa ana star casino logo Focusing on CashSomething investors will be clamoring for going forward is Caesars rejuvenating free cash flow (FCF) while reducing a debt burden that stood at . 7 billion at the end of June.

Beynon, the Macis the seneca niagara casino closingquarie analyst, said he’s confident management can drive 0 million in cost savings, and that there are deleveraging opportunities in the form of selling a Strip venue, as well as three gaming properties in Indiana. is gold coast casino open today doubledown casino ipo gold coast casino reviews Wieczynski, the Stifel analyst, said its possible management exceeds the 0 million cost-cut target and that it’s encouraging or more in per share FCF is in play. doubledown casino official website He reiterated a “buy” rating on Caesars stock, with a price target, while Beynon reissued an “outperform” call with a forecast. The shares closed around today. chumba casino vs In its first earnings report in new form, Caesars Entertainment (NASDAQ:CZR) reported a loss of 0 million on revenue of 6. Black Hawk Casino Colorado Bixc

5 million, down from net income of . is chumba casino legal in california 9 million a year earlier. who owns the wynn casino in las vegas But the stock rose modestly in Thursday’s after-hours session, extending a 6. Zeus Slot Casino Gybj 22 percent gain accrued during normal trading. four winds casino table games The lobby at Caesars quiero ir a viejas casino