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Caesars (CZR) Revises Deal to Sell William Hill Non-US Assets
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Caesars Entertainment, Inc. (CZR - Free Report) announced a revised agreement to sell the non-U.S. assets of William Hill to 888 Holdings Plc. The revised enterprise value is now between £1.95 billion and £2.05 billion. The deal is subject to regulatory and shareholders of 888 Holdings Plc approval.
Last year, Caesars completed the acquisition of sportsbook operator William Hill for $4 billion and agreed to sell the non-U.S. assets of William Hill to 888 Holdings for nearly £2.2 billion. 888 Holdings will have to pay a cash consideration of nearly £585 million, which is 30% below the earlier agreed £834.9 million. The company expects the transaction to be closed in June 2022.
In the past year, shares of Caesars have declined 26.6% compared with the Zacks Leisure and Recreation Services industry’s growth of 19.5%.
Image Source: Zacks Investment Research
Sports Betting & Partnerships to Drive Growth
Caesars Entertainment continues to emphasize sports-betting expansion to drive growth. To this end, the company formed a new Caesars Digital segment comprising sports betting, iGaming and poker. As of Apr 6, 2022, the company operates sports betting in 23 jurisdictions, of which 17 are mobile. The company expects to complete the migration of its legacy up to Washington, D.C., Nevada, Pennsylvania and Illinois to the Liberty platform in 2022. The company stated that improvements in in-app merging technologies would support its expanded gaming portfolio.
Caesars Entertainment continues to focus on partnerships to drive growth. The company is committed to expanding relationships with leagues and professional sports teams. To this end, the company formed partnerships with NFL, NBA, NHL, MLB and several individual teams.
Zacks Rank & Key Picks
Caesars Entertainment currently carries a Zacks Rank #4 (Sell).
The Zacks Consensus Estimate for Funko’s current financial year sales and EPS (earnings per share) suggests growth of 22.6% and 26.8%, respectively, from the year-ago period’s reported levels.
RCI Hospitality carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 63.2%, on average. Shares of the company have declined 12.2% in the past year.
The Zacks Consensus Estimate for RCI Hospitality’s 2022 sales and EPS suggests growth of 33.9% and 19.6%, respectively, from the year-ago period’s levels.
Bluegreen Vacations presently carries a Zacks Rank #2. BVH has a trailing four-quarter earnings surprise of 425.1%, on average. The stock has increased 23.5% in the past year.
The Zacks Consensus Estimate for BVH’s current financial year sales and EPS indicates growth of 8.3% and 20.8%, respectively, from the year-ago period’s reported levels.
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Caesars (CZR) Revises Deal to Sell William Hill Non-US Assets
Caesars Entertainment, Inc. (CZR - Free Report) announced a revised agreement to sell the non-U.S. assets of William Hill to 888 Holdings Plc. The revised enterprise value is now between £1.95 billion and £2.05 billion. The deal is subject to regulatory and shareholders of 888 Holdings Plc approval.
Last year, Caesars completed the acquisition of sportsbook operator William Hill for $4 billion and agreed to sell the non-U.S. assets of William Hill to 888 Holdings for nearly £2.2 billion. 888 Holdings will have to pay a cash consideration of nearly £585 million, which is 30% below the earlier agreed £834.9 million. The company expects the transaction to be closed in June 2022.
In the past year, shares of Caesars have declined 26.6% compared with the Zacks Leisure and Recreation Services industry’s growth of 19.5%.
Image Source: Zacks Investment Research
Sports Betting & Partnerships to Drive Growth
Caesars Entertainment continues to emphasize sports-betting expansion to drive growth. To this end, the company formed a new Caesars Digital segment comprising sports betting, iGaming and poker. As of Apr 6, 2022, the company operates sports betting in 23 jurisdictions, of which 17 are mobile. The company expects to complete the migration of its legacy up to Washington, D.C., Nevada, Pennsylvania and Illinois to the Liberty platform in 2022. The company stated that improvements in in-app merging technologies would support its expanded gaming portfolio.
Caesars Entertainment continues to focus on partnerships to drive growth. The company is committed to expanding relationships with leagues and professional sports teams. To this end, the company formed partnerships with NFL, NBA, NHL, MLB and several individual teams.
Zacks Rank & Key Picks
Caesars Entertainment currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Consumer Discretionary sector are Funko, Inc. (FNKO - Free Report) , RCI Hospitality Holdings, Inc. (RICK - Free Report) and Bluegreen Vacations Holding Corporation .
Funko sports a Zacks Rank #1 (Strong Buy) at present. FNKO has a trailing four-quarter earnings surprise of 96.2%, on average. Shares of the company have declined 25.7% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Funko’s current financial year sales and EPS (earnings per share) suggests growth of 22.6% and 26.8%, respectively, from the year-ago period’s reported levels.
RCI Hospitality carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 63.2%, on average. Shares of the company have declined 12.2% in the past year.
The Zacks Consensus Estimate for RCI Hospitality’s 2022 sales and EPS suggests growth of 33.9% and 19.6%, respectively, from the year-ago period’s levels.
Bluegreen Vacations presently carries a Zacks Rank #2. BVH has a trailing four-quarter earnings surprise of 425.1%, on average. The stock has increased 23.5% in the past year.
The Zacks Consensus Estimate for BVH’s current financial year sales and EPS indicates growth of 8.3% and 20.8%, respectively, from the year-ago period’s reported levels.