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The casino operator has additionally promised million to help construct the Slidell ring levee. Caesars Entertainment (NASDAQ:CZR) stock is higher by six percent in early trading Wednesday, a day after the gaming company delivered a blistering first-quarter earnings report — one including commentary that Las Vegas is roaring back to life. The lobby of Caesars Palace Las Vegas. Caesars stock is soaring thanks to a strong profit outlook. (Image: Business Insider)The Paris operator notched earnings before interest, taxes, depreciation and amortization (EBITDA) of 5 million in the January through March period. Cool Cats Casino Game Davl That’s while noting its Las Vegas properties are sold out on weekends for the “foreseeable future,” according to CEO Tom Reeg. On a call with analysts, executives also highlighted debt reduction and cash flow gemohegan sun casino tripadvisorneration targets, much to Wall Street’s delight. With Caesars targeting debt cuts of billion over the next year and free cash flow (FCF) estimates ahead of Wall Street expectations, at least three analysts lifted price targets on the name today.

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That group includes Stifel’s Steven Wieczynski who boosts his 12-month price forecast on the Harrah’s operator to 5 from 0. Seems like just yesterday we had investors questioning CZR’s ‘guidance’ of 40 percent margins and /share in FCF. At this point we believe both of those targets will not only be met over the long-term, but we believe there is considerable upside to both,” he said in a note to clients. valley forge casino event center On Tuesday’s post-earnings conference call, Reeg said it’s likely the company generates billion in EBITDA in at least one quarter this year while revealing an impressive 2022 earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) expectation. “CZR indicated they would be disappointed if they didn’t do at least B in EBITDAR in 2022. Are you kidding me? morongo casino concerts online casino w2 We were previously forecasting . 7B in EBITDA in 2023! ruby slots 200 free chip 2021 silver oak casino no rules bonus codes poker casino variant

! ? ? ,” said Wieczynski. casino near me slots Caesars Stock Becoming Debt Reduction Story, TooIt’s been less than a year since Eldorado Resorts purchased “old Caesars,” creating the largest domestic casino operator in the process. While analysts fawned for the scale born out of the merger, cost-cutting opportunities, and sports betting potentmohegan sun casino tripadvisorial, there were concerns that “new Caesars” could be hindered by a heavy debt burden. casino 3d model table games at casino rama The operator had billion in liabilities at the end of last year. borgata casino website But due to improving margins and the Las Vegas rebound, its leverage targets are moving lower. winstar world casino hr department

Leverage targets continue to get moved down, as well with the company expecting to be below 5x net leverage next year, with the possibility of getting down closer to 4x,” said Wieczynski. Does Draftkings Ibue 1099 Tobm Denmark The analyst adds that the forecast doesn’t include asset sales, and as 5x leverage is eclipsed to the downside, Caesars stock could become appealing to a broader swath of investors. On the conference call, CEO Reeg said the company isn’t planning to sell a Las Vegas casino until next year. Momentum Taking ShapeOver the course of the gaming industry earnings season, it’s been a common refrain from operators that March was a strong month. But analysts and investors want Viejas Casino Food Kzaa Austria