Caesars Entertainment (NASDAQ:CZR) stock rose 6.6% as the company expressed optimism for a strong comeback in Las Vegas despite missing earnings estimates. CEO Tom Reeg acknowledged a summer slump but expects a record-breaking year ahead. Shares closed at $20.12, up 7.9%.

The market views Caesars Entertainment’s latest news as significant but not a game-changer, given the stock’s volatility with 20 moves over 5% in the past year. Recent positive comments by company executives about Las Vegas business helped counter negative sentiment. The stock is down 38.9% year-to-date, trading 51.6% below its 52-week high.

Investors who bought $1,000 worth of Caesars Entertainment shares 5 years ago would now have an investment worth $426.80.

Read more at Barchart: Why Are Caesars Entertainment (CZR) Shares Soaring Today