Quote of the Day

“It is hard to value Caesars [Entertainment] based on traditional financial measures because it has consistently lost money since its 2008 leveraged buyout by a group led by Apollo Global Management and TPG Capital. It carries $22.5 billion of debt and burns cash.” — Barron’s Associate Editor Andrew Baryis pans the recent IPO. As though to rub salt in the wounds, he recommends Ameristar Casinos and Pinnacle Entertainment as superior investment plays. Even should Internet poker be legalized in the U.S., “Caesars needs a lot to break right for its stock to score,” Baryis concludes.