The company announced its buying Caesars Entertainment (CZR) - Get Caesars Entertainment Corporation Report for $17.3 billion, in a cash-and-stock deal that the companies say will create the largest gambling company in the U.S.
Action Alerts PLUS senior analyst Jeff Marks breaks down the deal and what it may mean for competitors in the space.
"It's an interesting time right now for like the whole Vegas and gambling community because you have the legalization of sports gambling slowly spreading across the country and you have gambling in other areas, kind of moving state by state," Marks said.
"If you want to play that sort of multi-state gambling exposure, I think this would kind of be it. If you'd rather look at some of the more focused names who are centered around Vegas and Macao, that's going to be your win. That's going to be your Las Vegas Sands. So I think if you're trying to size up the two different sets of companies, it's really, you got to know what you own and what you're investing in."
With all of this news, no surprise that Caesars is TheStreet's Stock of the Day.
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