CZR Company Overview & Thoughts

Company has been growing through expansion, but has taken on a significant debt load in the process. Much of the assets they claim to own are intangible/goodwill, meaning they are ~30 billion dollars in debt while claiming to be net asset positive via +15 billion from Goodwill/intangible. However, half of the debt is actual capital debt which needs to be repaid and the other half are lease payments.

Vice stock, revenues are shrinking year over year. High debt load. They are very profitable, but their operating income is all going toward keeping up with interest expenses.

Price is heavily depressed from ATH. Market does not seem particularly confident in CZRs ability to turn things around/continue with its growth.

Meet the CEO Tom Reeg
https://www.youtube.com/watch?v=AK75ah1nDJg&t=3s

Doesn't seem to be extraordinarily competent. This video was basically a filmed ad by CNBC and it didn't leave me particularly impressed with either the CEO or the company.

Definitely in the Too Hard pile for me personally. Market seems to be punishing them fairly harshly for flat/declining revenues, so it may be undervalued or fairly valued at $28.41/share on 3/20/2025.

Company appears to be flat/on a decline over the past few years, since a huge spike in 2021 which has since been harshly eroded.

I would neither love or hate to own this stock at its current pricing.