5 Best Casino Stocks to Buy for 2023

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1. Caesars Entertainment Inc. (NASDAQ:CZR)

Number of Hedge Fund Holders: 56

Caesars Entertainment Inc. (NASDAQ:CZR) is a gaming and hospitality company based in the US. It operates casinos comprising poker, keno, and race and online sportsbooks, among more.

Morgan Stanley’s Stephen Grambling initiated coverage of Caesars Entertainment Inc. (NASDAQ:CZR) on November 21 as well, with an Equal Weight rating and a $51 price target.

In 2020, Caesars Entertainment Inc. (NASDAQ:CZR) merged with Eldorado Resorts and became one of the largest casino and entertainment operators in the world. The company’s combined revenues shot up over the past few years to come to stand at about $10.4 billion by this October. It also raised an additional $1.3 billion in liquidity in 2020 by selling 23 acres of land on the Las Vegas strip, bringing it into a decent financial position.

Our hedge fund data shows 56 funds long Caesars Entertainment Inc. (NASDAQ:CZR) in the third quarter. Their total stake value was $730 million.

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