The analyst also noted increased visibility in Caesars’ cash-flow generation, which he believes will drive the stock higher. Katz said, “The deleveraging process that pivots toward equity expansion continues and is evident from the results and commentary, with land-based performance gradually accelerating and digital gaming turning profitable.” Management assured investors that digital business will be an “EBITDA contributor” this year, with both sports betting and iGaming expected to be EBITDA positive.įollowing the Q4 print, Jefferies analyst David Katz increased his price target for CZR stock to $63 from $55 and reiterated a “buy” rating. Moreover, digital revenue jumped over 100% to $237 million and helped in significantly bringing down the adjusted EBITDA loss of the division. The company highlighted that the occupancy rate came in at 95.5% during the quarter, bouncing back to pre-Covid levels for the first time since the pandemic. Robust performance of the company’s Las Vegas business helped offset the slight weakness in the regional business due to weather-related disruption in December. Revenue grew nearly 9% YOY to $2.8 billion in the fourth quarter of 2022. Source: Jason Patrick Ross/Ĭaesars Entertainment (NASDAQ: CZR) has recovered well from Covid-19-led weakness, as reflected in its recently reported fourth-quarter results.
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