After a New Q1 Earnings Record, Caesars Entertainment Stock Is 1 to Be Bullish On
Business is looking up for Caesars Entertainment (NASDAQ: CZR). For the first quarter, the Las Vegas-based casino and hotel operator saw an all-time high in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for its Las Vegas segment. CEO Tom Reeg boasted of continued "significant strength across all of our assets" led by the operations in Vegas.
Here's why I am bullish on this casino stock from here.
Caesars' Las Vegas segment not only set a new record for adjusted EBITDA, but also for EBITDA margin in the first quarter. While Vegas revenue jumped 24%, adjusted EBITDA for the segment popped an impressive 33.3% -- finishing at $533 million. EBITDA margin hit an all-time high of 47%.
Source Fool.com
