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Benzinga
Benzinga
Business
Adam Eckert

Caesars Raises The White Flag: Why Jim Cramer Prefers DraftKings Stock

Caesars Entertainment Inc (NASDAQ:CZR) announced weak earnings results after the market closed Tuesday, but the stock is rallying Wednesday after the company announced plans to cut ad spending on the sports betting market.

What Happened: Caesars reported fourth-quarter revenue of $2.59 billion, which was in line with estimates. The company reported an earnings loss of $2.03 per share, which came in below estimates.

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