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Why Caesars Entertainment Stock Is Sinking This Week

TheMotleyFool

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Why Caesars Entertainment Stock Is Sinking This Week: https://g.foolcdn.com/editorial/images/840665/las-vegas.jpg

Shares of Caesars Entertainment Inc (NASDAQ: CZR) fell this week, down 11.4% as of 1:49 p.m. ET on Friday. The move came as the S 500 jumped 0.5% and the Nasdaq-100 gained 1.7%.

The casino operator saw its stock plummet this week after releasing quarterly earnings that disappointed across the board after a particularly slow season in Las Vegas.

Caesars Entertainment badly missed Wall Street expectations earlier this week, reporting a third-quarter loss of $0.27 per share--three times worse than the projected $0.09 loss. Revenue also fell short at $2.87 billion versus estimates of $2.89 billion.

Source Fool.com

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