Better Buy: MGM Resorts vs. Caesars Entertainment
The Las Vegas Strip has gone dark because of the coronavirus pandemic, but one day it will once again be a sparkling gambling mecca in the desert. The opportunity that today's market pullbacks bring us should be welcomed. Both Caesars Entertainment (NASDAQ: CZR) and MGM Resorts International (NYSE: MGM) have stories suggesting that upside awaits for investors post-virus.
Let's take a look at which is the better choice.
Caesars Entertainment really got an unlucky roll of the dice -- the coronavirus crisis came right when it was wrapping up its merger with Eldorado Resorts. As a result, business valuations have changed. It's possible the whole $17.3 billion deal will have to be repriced, and it's definite that the deal's closure has been rescheduled. Originally, the transaction was expected to close in mid-April, but now expectations are that it will be late May or early June.
Source Fool.com
