\u201cpermanent solution\u201d<\/a> for the company’s iGaming and sports wagering businesses could be revealed by the end of this year.<\/p>\nLast year, Reeg mentioned the units could be spun off to generate value for investors because the old Caesars equity didn’t adequately reflect the growth opportunity offered by those businesses. He was careful to note the company won’t react in knee-jerk fashion simply because markets are assigning lofty multiples to online gaming firms.<\/p>\n
The CEO said internet casinos and sports wagering could generate $600 million to $700 million in revenue for the company in 2021, with New Jersey iGaming alone contributing $125 million.<\/p>\n
JPMorgan has a $50 price target on Caesars, implying roughly 25 percent upside from current levels. But that’s also slightly below the Wall Street average of $52.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"In one of the best days in its new form, Caesars Entertainment (NASDAQ:CZR) is higher by nine percent in midday trading. That’s after JPMorgan restarted coverage of the gaming company with an \u201coutperform\u201d rating. It’s been less than a month since the company formerly known as Eldorado Resorts completed its $17.3 billion takeover of Caesars, […]<\/p>\n","protected":false},"author":46,"featured_media":144806,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Caesars Stock Gets Big Lift With JPMorgan Reinstating Coverage<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n