Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Caesars Entertainment, Inc.    CZR

CAESARS ENTERTAINMENT, INC.

(CZR)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Exclusive: Eldorado Resorts, Caesars explore merger - sources

03/17/2019 | 06:07pm EST
The marquee sign at Caesars Palace in Las Vegas

(Reuters) - U.S. casino operators Eldorado Resorts Inc and Caesars Entertainment Corp are in the early stages of exploring a merger, people familiar with the matter said on Sunday.

The deal talks come after Caesars agreed this month to give billionaire investor Carl Icahn, who has been pushing the company to sell itself, three board seats to his representatives and a say on the selection of its next chief executive officer.

Caesars is providing some limited confidential financial information to Eldorado, which is carrying out due diligence on the potential combination of the two companies, the sources said.

Eldorado has yet to make a binding offer for Caesars, and there is no certainty any bid will materialize or that a deal will be successfully negotiated, the sources added, asking not to be identified because the matter is confidential.

Caesars and Eldorado have market capitalizations of $5.4 billion and $3.6 billion, respectively. They also had debt piles of $9.1 billion and $3.3 billion, respectively, as of the end of December.

Caesars declined to comment, while Eldorado did not immediately respond to a request for comment.

The combination of Caesars and Eldorado would create a more formidable competitor to larger casino industry players, such as Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International.

"The universe of buyers (for Caesars) is limited, and Eldorado is best suited to extract full value from Caesars' assets in our view," Roch Capital Partners analysts wrote in a March 6 research note.

Caesars, whose casinos include the Harrah's and Horseshoe brands, emerged from bankruptcy protection in 2017, after failing to cope with some $25 billion in debt. It had 53 properties in 14 U.S. states and five countries outside the United States, including the UK, as of the end of December.

Eldorado owns and operates 26 properties in 12 U.S. states.

Last year, Caesars rejected a merger approach by Tilman Fertitta, the billionaire owner of Golden Nugget casinos. That deal would essentially have been structured as an acquisition by Caesars given its larger size. Fertitta has not submitted any new offer for Caesars this year, according to the sources.

Caesars has also said it is exploring strategic alternatives that could lead to some kind of transaction.

Icahn has been steadily raising his stake in Caesars in anticipation of a deal. Last week, he disclosed his stake had reached 17.8 percent, up from 9.8 percent when he clinched his deal over board seats with the company on March 1.

(Reporting by Greg Roumeliotis in New York; Editing by Peter Cooney)

By Greg Roumeliotis


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED 0.00% 1.555 End-of-day quote.-0.32%
BEST INC. 5.37% 2.16 Delayed Quote.0.49%
CAESARS ENTERTAINMENT, INC. -0.77% 80.05 Delayed Quote.7.78%
LINE CORPORATION 0.00% 5350 End-of-day quote.0.00%
THE LEAD CO., INC. -3.62% 825 End-of-day quote.-1.79%
WYNN RESORTS 2.71% 110.07 Delayed Quote.-2.45%
All news about CAESARS ENTERTAINMENT, INC.
09:42aCAESARS ENTERTAINMENT : Morgan Stanley Adjusts Price Target on Caesars Entertain..
MT
09:05aCAESARS ENTERTAINMENT : to Report 2020 Fourth Quarter and Full-Year Results on F..
AQ
01/19MGM Resorts drops takeover plan for Ladbrokes-owner Entain
RE
01/15CAESARS ENTERTAINMENT : To report 2020 fourth quarter and full-year results on f..
AQ
01/14CAESARS ENTERTAINMENT, INC. : to Report 2020 Fourth Quarter and Full-Year Result..
PR
01/14CAESARS ENTERTAINMENT : KeyBanc Starts Caesars Entertainment at Overweight With ..
MT
01/13CAESARS ENTERTAINMENT : Operated Silver Legacy Resort Casino Undergoing $47 Mill..
MT
01/13CAESARS ENTERTAINMENT : Silver Legacy Resort Casino at THE ROW Reno Unveils Plan..
PR
01/13William Hill annual revenue down on sports cancellations, COVID-19 curbs
RE
01/07CAESARS ENTERTAINMENT, INC. : Other Events (form 8-K)
AQ
More news
Financials (USD)
Sales 2020 4 166 M - -
Net income 2020 -1 657 M - -
Net Debt 2020 15 228 M - -
P/E ratio 2020 -8,17x
Yield 2020 -
Capitalization 16 673 M 16 673 M -
EV / Sales 2020 7,66x
EV / Sales 2021 3,84x
Nbr of Employees 15 500
Free-Float 95,2%
Chart CAESARS ENTERTAINMENT, INC.
Duration : Period :
Caesars Entertainment, Inc. Technical Analysis Chart | CZR | US12769G1004 | MarketScreener
Technical analysis trends CAESARS ENTERTAINMENT, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Average target price 84,00 $
Last Close Price 80,05 $
Spread / Highest target 24,9%
Spread / Average Target 4,93%
Spread / Lowest Target -30,0%
EPS Revisions
Managers and Directors
NameTitle
Thomas R. Reeg Chief Executive Officer & Director
Anthony L. Carano President & Chief Operating Officer
Gary L. Carano Executive Chairman
Bret Yunker Chief Financial Officer & Treasurer
Bonnie S. Biumi Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CAESARS ENTERTAINMENT, INC.7.78%16 802
FLUTTER ENTERTAINMENT PLC-3.27%34 247
GALAXY ENTERTAINMENT GROUP LIMITED0.41%33 143
SANDS CHINA LTD.-7.05%32 248
EVOLUTION GAMING GROUP AB0.60%21 348
PENN NATIONAL GAMING, INC.22.67%15 528