Caesars CEO Sees Robust Casino Rebound in the Offing. Shares Are Surging

Shares of casino operator Caesars Entertainment were up 10% Friday, a day after the company’s top executives painted an encouraging picture of improving business conditions. Caesars (ticker: CZR) reported that its adjusted fourth-quarter earnings before interest, taxes, depreciation and amortization, or Ebitda, totaled $346 million, versus $722 million a year earlier. Like other casino operators and leisure companies, the company has taken a hit from Covid lockdowns and various travel restrictions and capacity limits. A few of the company’s regional properties were closed during the fourth quarter. Another thing to keep in mind is that Caesars is the product of a big merger that was finalized last July in which Caesars Entertainment combined with the Caesars assets. Continue Reading: