Why Caesars Entertainment Shares Popped 10.9% on Friday

Shares of casino giant Caesars Entertainment (NASDAQ: CZR) jumped as much as 10.9% in trading on Friday after the company announced fourth-quarter 2020 financial results. Shares closed trading up 9.8% for the day. 

Financial results were only a small part of the story today. Revenue of $1.5 billion was up 152.9% from a year ago after the Eldorado Resorts merger was completed. On a same-store basis, revenue dropped 37.5%. Net loss for the quarter was $555 million, or $2.67 per share. 

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Source Fool.com