CAESARS ENTERTAINMENT Reports Second Quarter Earnings Results for FY2023
August 6, 2023
☀️Earnings Overview
On June 30, 2023, CAESARS ENTERTAINMENT ($NASDAQ:CZR) reported their financial results for the second quarter of FY2023. Total revenue grew by 2.1% year over year to USD 2879.0 million, and net income soared to USD 920.0 million, compared to the -123.0 million reported in the same quarter of the previous year.
Market Price
The stock opened at $57.9 and closed at $57.8, representing a 2.1% decrease from the previous closing price of $59.0. This was mainly driven by increased customer visits and higher average spends. The company is optimistic about its future prospects and plans to continue to invest in its core businesses to drive further growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Caesars Entertainment. More…
| Total Revenues | Net Income | Net Margin |
| 11.42k | 688 | 8.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Caesars Entertainment. More…
| Operations | Investing | Financing |
| 1.83k | -531 | -1.52k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Caesars Entertainment. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 33.48k | 28.81k | 21.14 |
Key Ratios Snapshot
Some of the financial key ratios for Caesars Entertainment are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 83.3% | 128.1% | 18.3% |
| FCF Margin | ROE | ROA |
| 6.6% | 32.1% | 3.9% |
Analysis
At GoodWhale, we have analyzed CAESARS ENTERTAINMENT’s financials and are delighted to share our findings. According to our Star Chart, CAESARS ENTERTAINMENT has an intermediate health score of 6/10 with regard to its cashflows and debt, suggesting that it might be able to sustain future operations in times of crisis. We classify CAESARS ENTERTAINMENT as a ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are interested in investing in such high growth companies should consider CAESARS ENTERTAINMENT. Although the company has exhibited strong growth, it is rated as medium in profitability and weak in asset and dividend. Therefore, investors should exercise caution and ensure that they have a thorough understanding of the risks and potential rewards associated with such investments. More…
Peers
By providing a wide range of services, such as casinos, resorts, and branded consumer products, Caesars has built a reputation as one of the most respected and successful companies in the marketplace. It is one of the largest players in the industry alongside its competitors Boyd Gaming Corp, MGM Resorts International, and Churchill Downs Inc. Each of these companies offer their own unique services that add to the variety of options available to customers.
– Boyd Gaming Corp ($NYSE:BYD)
Boyd Gaming Corporation is a leading US-based gaming and entertainment company. With a market cap of $5.87B as of 2023, the company operates 29 gaming entertainment properties across 10 states. Boyd Gaming has been successful in creating value for its shareholders. Their impressive return on equity of 36.77% has helped them to outperform their competitors in the gaming industry. The company also has an excellent track record of leveraging its resources to create value for its shareholders. Boyd Gaming continues to seek out new opportunities to grow their business and increase shareholder value.
– MGM Resorts International ($NYSE:MGM)
MGM Resorts International is a global entertainment and hospitality company, operating hotels and casinos around the world. The company has a market capitalization of 14.29 billion dollars and a return on equity of 20.62%. This demonstrates the success and profitability of the company and its ability to generate profits from its operations. The market cap of MGM Resorts International reflects the company’s overall market position and size, while the ROE indicates the company’s ability to generate returns from its investments. This demonstrates that MGM Resorts International is a highly successful and successful business that is able to generate good returns for its shareholders.
– Churchill Downs Inc ($NASDAQ:CHDN)
Churchill Downs Inc is a leading player in the racing, gaming and online entertainment industries. The Kentucky-based company has a market cap of 8.13 billion dollars as of 2023, making it one of the most valuable publicly traded companies in the United States. The company has also managed to maintain a strong Return on Equity of 80.19%, indicating the firm’s ability to generate a steady stream of profits from its operations. Churchill Downs Inc has operations in several states and countries, including Kentucky, Illinois, Louisiana, Florida, California, and New Jersey in the US, as well as in the UK and Australia. The company is a major force in the industry and has a long history of success.
Summary
Investors in CAESARS ENTERTAINMENT have reasons to be optimistic, as the company recently reported their second quarter of FY2023 earnings results. Total revenue increased by 2.1% year over year to USD 2879.0 million, while net income increased from a loss of -123.0 million to a profit of USD 920.0 million. This positive financial performance indicates that CAESARS ENTERTAINMENT is on the right track and is likely to continue to show strong growth in the foreseeable future.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
