Should You Buy Caesars Before There's a Coronavirus Vaccine?

Despite rolling "snake eyes" when the coronavirus pandemic caused lockdowns throughout the U.S. earlier this year, gambling companies are showing signs of life as many states begin to allow limited reopening of casinos. Caesars Entertainment (NASDAQ: CZR) saw a 22% rebound in September, likely related both to its ESPN partnership and its announced acquisition plans for English sportsbook company William Hill (LSE: WMH).

While Caesars isn't faring badly in its recovery, its stock still hasn't regained the full value it had before the coronavirus struck. Additionally, the rise of COVID-19 hospitalizations could be threatening another wave of lockdowns and an abrupt drop in the modest gains made by in-casino gambling during the summer months. With the earliest possible release of COVID-19 vaccines in the U.S. still roughly two months away, according to a recent estimate from Dr. Anthony Fauci, Fools investing in consumer discretionary stocks might want to weigh several factors before buying shares of Caesars.

Image source: Caesars Entertainment.

Source Fool.com