Caesars Entertainment, Inc. (NASDAQ: CZR) operates as a gaming and hospitality company in the United States. The company owns, leases, or manages domestic properties in 16 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts sports wagering across 28 jurisdictions in North America, including mobile for sports betting and regulated online real money gaming in six jurisdictions in North America; retail and online gaming and sports betting; and other games, such as keno. In addition, the company operates dining venues, bars, nightclubs, lounges, hotels, and entertainment venues; and provides staffing and management services. Caesars Entertainment, Inc. was founded in 1937 and is based in Reno, Nevada.
In 2020, Caesars Entertainment Inc. merged with Eldorado Resorts and became one of the largest casino and entertainment operators in the world. The company’s combined revenues shot up over the past few years to come to stand at about $10.4 billion by this October. It also raised an additional $1.3 billion in liquidity in 2020 by selling 23 acres of land on the Las Vegas strip, bringing it into a decent financial position. 56 hedge funds own Caesars Entertainment Inc. in the third quarter. Their total stake value was $730 million. Besides the success of Sports betting, Caesars Entertainment continues to focus on partnerships to drive growth. The company expanded its partnership with NYRA Bets to boost the presence of its horse racing account wagering app Caesars Racebook. The company is optimistic in this regard and anticipates the initiative to drive growth. Therefore, Caesars Entertainment Inc is a top casino stock to own for long-term investors.