Imperial Capital Begins Coverage on Caesars Entertainment (CZR)
Analysts at Imperial Capital initiated coverage on shares of Caesars Entertainment (NYSE: CZR) in a research report issued to clients and investors on Tuesday. They set an “outperform” rating on the stock.
Caesars Entertainment Corporation, formerly Harrah’s Entertainment, Inc. is a casino entertainment provider in the world. Its business is conducted through a wholly owned subsidiary, Caesars Entertainment Operating Company, Inc. (CEOC). As of December 31, 2010, it owned, operated or managed 52 casinos in seven countries, but primarily in the United States and England. Its casino entertainment facilities operate under the Harrah’s, Caesars and Horseshoe brand names in the United States. Its casino entertainment facilities include 33 land-based casinos, 12 riverboat or dockside casinos, three managed casinos on Indian lands in the United States, one operated casino in Canada, one combination greyhound racetrack and casino, one combination thoroughbred racetrack and casino and one harness racetrack and casino. On February 19, 2010, it acquired Planet Hollywood Resort and Casino in Las Vegas, Nevada.
Caesars Entertainment traded down 6.69% on Tuesday, hitting $12.28. Caesars Entertainment has a 52-week low of $9.00 and a 52-week high of $17.90. The stock has a 50-day moving average of $14. and a 200-day moving average of $14.. The company’s market cap is $1.535 billion.