Caesars/Harrahs Goes Public . . . again

"Caesars Entertainment Corp., the U.S. casino chain with more than $22 billion in debt, almost doubled in its trading debut after selling stock in an initial public offering a fraction of the size of its failed 2010 effort."
Ref: Bloomberg

As DonDiego types the shares, trading as CZR, are up about 80% from the initial offering price of $9.

DonDiego does not recommend an investment. In fact, unless one got in on the initial $9 price one would pr'bly be gambling now, not investing at all.
The public-offering represents only 2% of the total shares. DonDiego opines the main reason for the IPO was to establish a market to set a price so that the private-owners can sell at least some of what they own.

Caveat emptor

I don't trust casino stocks.

Facebook might be a better buy



Blade bought MGM stock for around $90 something a share 5 years ago, then the bottom fell out. Finally gave up and sold it recently for about $12 a share.

No more gambling stocks for me.

Ouch Blade, that must hurt. I too bought MGM a few years back at about $20 a share, then it tanked some more so I got out at about $10 a share losing half of my initial investment. Sh-t happens. I shall heed DD's advice and not pursue CZR.

Yeah surf87 playing the stock market is a gamble in its own way. You loose some, you win some. ie: I also bought Apple stock a couple years ago for less than $100 a share, its over $450 right now!!!!

Just spent a week in Las Vegas, and spent a lot of time at CZR hotels/casinos.

1. They keep raising the price of the buffet of buffets. There aren't long lines at the buffets any more. The price has gone up, but the quality has gone down, IMO.

2. Employee moral seems normal.

3. Gambling volume seems down somewhat. The sports book at Caesar's was busy, but not crowded.

4. Just checked my offers at Total Rewards, and my offers aren't as juicy as they were one year ago.

My conclusion is that this isn't the best of times for CZR. I would guess the initial surge in the IPO is just speculation.