Better Buy: Caesars Entertainment or Las Vegas Sands Stock?
With the casino industry thriving in Las Vegas, and Macao resuming operations after COVID restrictions were lifted, casino stocks appear to be in store for some much-needed recovery. Today, we'll take a look at two players in the space and determine which makes a better buy based on recent performance.
Net revenue reached $2.8 billion for Caesars Entertainment (NASDAQ: CZR) last quarter, 9% higher than fourth-quarter 2021. Most impressively, same-store sales soared 65% higher as visitation on the Las Vegas Strip approaches pre-pandemic levels.
Still unprofitable, Caesars finished Q4 with a net loss of $148 million. But that was much improved from its prior-year loss of $434 million, indicating that a recovery is on the horizon. Furthermore, Las Vegas occupancy for Caesars last quarter reached 95.5% for the first time since the start of the pandemic.
Source Fool.com
