5 Best Gambling Stocks to Buy Now

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1. Caesars Entertainment Inc (NASDAQ:CZR)

Number of Hedge Fund Investors: 65

Gambling giant Caesars Entertainment, Inc. (NASDAQ:CZR) is the most popular gambling stock among the 933 elite money managers tracked by Insider Monkey. Of the 65 funds having stakes in the company, Parag Vora’s HG Vora Capital Management had the biggest stake in the company, valued at $239 million.

Baron Real Estate Fund stated the following regarding Caesars Entertainment, Inc. (NASDAQ:CZR) in its first quarter 2024 investor letter:

“The shares of Caesars Entertainment, Inc. (NASDAQ:CZR), the largest casino-entertainment company in the U.S. and one of the world’s most diversified casino-entertainment providers, declined 7.0% in the first quarter in part due to expectations that first quarter results may be negatively impacted by bad weather. The move higher in interest rates also negatively impacted certain highly leveraged companies such as Caesars.

We are big fans of CEO Tom Reeg and remain optimistic about the long-term prospects for the company for the following reasons: 1. We are optimistic about the long-term prospects for Las Vegas, which represents approximately 50% of Caesars’ cash flow (with 50% of its cash flow generated from regional destination markets). We believe that Las Vegas has structurally changed and has a year-round business and event calendar that has effectively eliminated off-peak months or lulls in business activity…” (Click here to read the full text)

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