|Bid||9.56 x 28000|
|Ask||9.60 x 34100|
|Day's range||9.37 - 9.65|
|52-week range||5.84 - 13.54|
|Beta (3Y monthly)||2.23|
|PE ratio (TTM)||23.32|
|Earnings date||30 Apr 2019 - 6 May 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||11.10|
U.S. casino operator Caesars Entertainment Corp, which has been under pressure from activist investor Carl Icahn to sell itself, on Tuesday named Anthony Rodio as its chief executive officer. Reuters reported in February that Icahn had proposed Rodio, CEO of privately held casino gaming company Affinity Gaming, as successor to Mark Frissora, who was due to step down as Caesars CEO. Rodio was previously CEO of Tropicana Entertainment Inc, another casino and resort operator that Icahn sold last year to peer Eldorado Resorts Inc for $1.85 billion.
Caesars Entertainment has appointed gaming veteran Anthony Rodio as its new chief executive and said it set up a committee to evaluate takeover interest it has received amid continued pressure from activist investor Carl Icahn to sell itself. Mr Rodio was previously the head of Tropicana Entertainment, a casino operator owned by Mr Icahn that was sold last year for $1.85bn. The 60-year old will be replacing Mark Frissora, who announced last November he would step down in February but later said he would stay on until a new CEO is found.
Investors need to pay close attention to Caesars Entertainment (CZR) stock based on the movements in the options market lately.
The nation's largest casino workers union is asking gambling regulators to protect employees from neglect by hedge funds or private equity firms seeking short-term returns from casino ownership. Bob McDevitt, president of the union's Local 54 in Atlantic City, said private equity ownership has been disastrous for his city's casino industry, with shutdowns and job losses attributable to the firms' pursuit of short-term profits.
Caesars’ sustainability chief says corporate social responsibility played a key role in landing the NFL's first casino partnership.
Performances of gambling stocks over the last five trading disappoint, thanks to concerns over Macau gaming revenues, slowdown in China and the trade war between Beijing and Washington.
Analysts have speculated on a merger between the two in the past, as Eldorado owns 26 properties across the U.S. and Caesars is one of the dominant casino companies in Las Vegas.
The deal talks come after Caesars agreed this month to give billionaire investor Carl Icahn, who has been pushing the company to sell itself, three board seats to his representatives and a say on the selection of its next chief executive officer. Caesars is providing some limited confidential financial information to Eldorado, which is carrying out due diligence on the potential combination of the two companies, the sources said. Caesars and Eldorado have market capitalizations of $5.4 billion and $3.6 billion, respectively.
Activist investor Carl Icahn has upped his stake in casino giant Caesars Entertainment. The billionaire, who is seeking fundamental changes in the Las Vegas-based company, on Monday disclosed in a securities filing that recent stock purchases now put his stake at 17.75 percent. The filing with the Securities and Exchange Commission shows Icahn-controlled hedge funds purchased 15 million shares for $126.75 million.
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains discusses reports that Amazon (AMZN) is looking to buy the YES Network from Disney (DIS) as it tries to expand its streaming sports business. The episode then dives into Chinese e-commerce giant Alibaba's (BABA) new NBA partnership, before checking out the latest sports betting news.