10 Most Volatile Stocks To Buy Right Now

7. Caesars Entertainment (NASDAQ:CZR)  

Number of Hedge Fund Investors: 54  

Beta: 2.96  

Caesars Entertainment (NASDAQ:CZR) is a gaming and hospitality company that operates a portfolio of casinos and resorts across the United States and internationally.

Caesars Entertainment (NASDAQ:CZR) is focusing on high-margin products, such as parlays, which have been on the rise. Parlays are a hit because they boost profits and help sportsbooks cover other costs. However, the company faces challenges in the digital sports betting space, with volumes flat and a new progressive tax on sports betting revenues in Illinois, which could cost the company around $5 million a year.

Caesars Entertainment’s (NASDAQ:CZR) Nobu Hotel Caesars in New Orleans is expected to open in the coming months, and gaming revenue is projected to rise by $80 million. A new property in Virginia is also expected to open in late 2024. Las Vegas faced headwinds, including higher union contract costs and delays in bringing some restaurants up to speed.

Caesars Entertainment (NASDAQ:CZR) is making progress in reducing its debt burden, with over $100 million paid off in Q2. The debt load of around $12.162 billion is still a significant challenge, but the company is working to reduce it further.