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CZR · NASDAQ · Gambling, Resorts & Casinos

Caesars Entertainment

Runs casino resorts, hotels, and digital betting operations across North America.

$29.74

After-hours close+0.01 (+0.02%)

At close$29.74(+0.32%)

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Profile

Caesars Entertainment, Inc.CZRConsumer Discretionary

Operates casino resorts and hotels alongside retail and online wagering. Its portfolio was assembled through Eldorado-led acquisitions, including former Caesars and William Hill.

Casino resorts and hotels form the core of a North American hospitality portfolio, complemented by retail and online wagering. Guest loyalty, service, operational execution, and digital offerings are elements of its stated operating approach.

The acquisition-led Eldorado platform acquired former Caesars, adopted the Caesars name, and took over the CZR ticker. The transaction combined a regional operator with a larger casino estate. William Hill's acquisition expanded the post-merger business into betting. Operations depend on gaming licenses and approvals, while the pending Fertitta transaction also needs shareholder, HSR, and gaming regulatory approvals to close.

Company facts

CEOThomas R. Reeg

ListedJul 21, 2020

ExchangeNASDAQ

HeadquartersReno, NV

CountryUnited States

Employees50,000

CIK0001590895

ISINUS12769G1004

Key statistics

Market cap$6.06B

EPS (ttm)−$2.28

P/E (ttm)−13.04

ROE-12.6%

P/B1.80

P/S0.5200

Dividend yield—

Beta0.70vs XLY 0.79

Year to date +26.2% · Average volume (30d) 3.6M

Analysts

Price target, next 12 months$31.00+4.3%Median of 31 analysts · vs the Aug 28 close

ConsensusHold10 of 31 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $29.73

High$34.00+14.4%

Median$31.00+4.3%

Low$26.00−12.5%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Jul 29, 2026	Cowen & Co.	Downgrade	Buy	Hold
Jul 29, 2026	TD Cowen	Downgrade	Buy	Hold
Jul 23, 2026	Capital One Financial	Target				$31
Jul 9, 2026	Barclays	Downgrade	Overweight	Equal Weight	$35	$31
Jul 2, 2026	UBS	Target				$31

Earnings

EPS

Estimate−$0.07

ReportedDue Oct 27, 2026

Revenue

Estimate$2.98B

ReportedDue Oct 27, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Jul 28, 2026Q2 FY26	$0.05	−$0.30	−765.0%	$2.98B	$2.99B	+0.5%	−0.60%
Apr 28, 2026Q1 FY26	−$0.19	−$0.48	−152.6%	$2.85B	$2.87B	+0.8%	+0.26%
Feb 17, 2026Q4 FY25	−$0.18	−$1.23	−583.3%	$2.88B	$2.92B	+1.1%	+13.03%
Oct 28, 2025Q3 FY25	−$0.11	−$0.27	−145.5%	$2.90B	$2.87B	−0.9%	−15.21%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$2.79B	$2.91B	$2.87B	$2.92B	$2.87B	$2.99B
Gross profit	$1.41B	$1.49B	$1.06B	$1.09B	$1.44B	$2.99B
Operating income	$488.0M	$526.0M	$503.0M	$525.0M	$500.0M	$513.0M
Net income	−$115.0M	−$82.0M	−$55.0M	−$250.0M	−$98.0M	−$41.0M
Diluted EPS	−$0.54	−$0.39	−$0.27	−$1.23	−$0.48	−$0.30
Gross margin	50.5%	51.1%	37.0%	37.3%	50.3%	100.0%
Operating margin	17.5%	18.1%	17.5%	18.0%	17.4%	17.1%

Fiscal years (4-quarter sums)FY21 $9.57B · FY22 $10.82B · FY23 $11.53B · FY24 $11.25B · FY25 $11.49B

Revenue by product · Q2 FY26

Casino$1.76B · 66%

Hotel, Owned$495.0M · 18%

Food And Beverage$426.0M · 16%

Revenue by geography · Q2 FY26

Regional$1.57B · 52%

Las Vegas$1.02B · 34%

Caesars Digital$351.0M · 12%

Managed And Branded$57.0M · 2%

Balance sheet, Jun 30, 2026Cash & short-term investments $1.06B · Total debt $24.86B · Total assets $31.74B · Shareholders' equity $3.38B

Dividends

No dividends on record.

Ownership

Institutions 101.32%Insiders 0.77%

A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.

Shares outstanding 203.72M · Float 193.03M · 94.8% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
BlackRock, Inc.	27.50M	13.50%	13F	Aug 7, 2026
Capital World Investors	16.19M	7.80%	13G	Nov 13, 2025
Ein #	12.61M	5.90%	13D/G	Nov 14, 2024
Pentwater Capital Management LP	11.47M	5.60%	13G	Aug 14, 2026
Vanguard Portfolio Management LLC	10.30M	5.06%	13F	Aug 13, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Aug 27, 2026	Blackhurst Janis L. Jones	director	−33,899	$29.63
Aug 19, 2026	Bret Yunker	officer: Chief Financial Officer	−208,134	$29.62
Aug 14, 2026	Josh Jones	officer: Chief Marketing Officer	−59,507	$29.72
Jun 12, 2026	Michael E. Pegram	director	−16,897	$29.46
Jun 11, 2026	Michael E. Pegram	director	−24,800	$29.47