10 Best Casino Stocks to Buy According to Billionaires

6. Caesars Entertainment, Inc. (NASDAQ:CZR)

Number of Billionaires: 11

Billionaire Holdings: 338,586,430 

Eldorado Resorts acquired Caesars Entertainment, Inc. (NASDAQ:CZR) in 2020, and the Caesars name was retained. Following the merger, it became the largest casino operator in the United States, with 54 facilities globally, including eight on the Las Vegas Strip. Caesars operates casinos in sixteen states.

The company’s Las Vegas and regional casinos continue to account for the majority of its business, despite its advancements in online gaming. Like other casino operators, it wants to capitalize on its national network by offering a reward program that encourages visits to numerous facilities.

The Q4 and full-year 2024 results of Caesars Entertainment Inc. (NASDAQ:CZR) were recently released, revealing a range of performances across all segments. In Q4, GAAP net revenues were $2.80 billion, a modest drop from $2.83 billion in the same period last year. However, net profits were $11 million, as opposed to a loss of $72 million in the same period last year. The company reported $11.2 billion in net revenues for the entire fiscal year 2024, down from $11.5 billion in 2023, and a $278 million net loss as opposed to $786 million in net profitability. However, the company repurchased $50 million worth of shares and paid off $500 million in debt with the proceeds from the Promenade and WSOP sales.

David Katz, a Jefferies analyst, gave the Caesars Entertainment Inc. (NASDAQ:CZR) stock a Buy rating on February 19 based on multiple variables influencing its potential future performance. Katz is optimistic that these areas will rebound by 2025, despite short-term problems, particularly in the online business segment and regional gaming portfolio, which have been harmed by recent poor sporting events. While the regional portfolio may profit from a more competitive environment and fresh initiatives in specific areas, the digital segment is projected to grow due to improved iGaming performance and reduced promotional expenses. Furthermore, it is anticipated that its activities in Las Vegas will remain steady, supported by an active presence on The Strip and a recovering convention market.