Morgan Stanley Maintains Equal-Weight Rating for Caesars Entertainment: Here's What You Need To Know

Morgan Stanley has decided to maintain its Equal-Weight rating of Caesars Entertainment CZR and lower its price target from $56.00 to $55.00.

Shares of Caesars Entertainment are trading down 2.59% over the last 24 hours, at $51.50 per share.

A move to $55.00 would account for a 6.8% increase from the current share price.

About Caesars Entertainment

Caesars Entertainment includes around 50 domestic gaming properties across Las Vegas (58% of 2022 EBITDAR before corporate and digital expenses) and regional (59%) markets. Additionally, the company hosts managed properties and digital assets, the later of which produced material EBITDA losses in 2022. Caesars' U.S. presence roughly doubled with the 2020 acquisition by Eldorado, which built its first casino in Reno, Nevada, in 1973 and expanded its presence through prior acquisitions to over 20 properties before merging with legacy Caesars. Caesars' brands include Caesars, Harrah's, Tropicana, Bally's, Isle, and Flamingo. Also, the company owns the U.S. portion of William Hill (it sold the international operation in 2022), a digital sports betting platform.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.