5 Best Gambling Stocks To Buy Now

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

Number of Hedge Fund Holders: 59     

Caesars Entertainment, Inc. (NASDAQ:CZR) operates as a gaming and hospitality company in the United States. The firm features on the list of best casino stocks to invest in. On August 2, the firm posted earnings for the second quarter of 2022, reporting a revenue of more than $2.8 billion, up over 12% compared to the revenue over the same period last year and beating estimates by $30 million.  

On August 3, Deutsche Bank analyst Carlo Santarelli maintained a Buy recommendation on Caesars Entertainment, Inc. (NASDAQ:CZR) but lowered the price target on the shares to $64 from $90 after the Q2 results. The analyst slashed estimates but said that Las Vegas strip trends have remained resilient.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm HG Vora Capital Management is a leading shareholder Caesars Entertainment, Inc. (NASDAQ:CZR) with 5 million shares worth more than $191.5 million. 

In its Q4 2021 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Caesars Entertainment, Inc. (NASDAQ:CZR) was one of them. Here is what the fund said:

“Caesars Entertainment, Inc. (NASDAQ:CZR), a diversified casino-entertainment and resort company, underperformed in the period as its quarterly earnings update was viewed as disappointing by investors. The firm highlighted a number of one-time headwinds that ultimately weighed on margins, as well as some negative impacts brought on by the surge in COVID cases. Despite this, we believe that the sizable overall margin improvements Caesars has realized coming out of the pandemic will ultimately prove sustainable in the long run.” 

You can also take a peek at 11 Best Consumer Stocks To Buy Now and 10 Most Shorted Stocks in the World.

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