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Casino resort operator with Las Vegas and regional US properties (Caesars Palace, Harrah's) and the Caesars Sportsbook online betting app.
Casino resort operator with Las Vegas and regional US properties (Caesars Palace, Harrah's) and the Caesars Sportsbook online betting app.
Earns from gambling, hotel rooms, food and entertainment at its resorts, and from online sports betting and casino apps. It rents most of its Las Vegas and regional casinos from landlord REITs, such as VICI Properties and Gaming and Leisure Properties, so rent is a big fixed cost. Eldorado Resorts bought the old Caesars in 2020 and took its name.
Moat: narrow (brand, scale, installed base). A large loyalty program (Caesars Rewards) and broad regional casino footprint support customer retention.
Headquarters: Reno, Nevada, US · Founded: 1937 · Employees: 50,000
Size Caesars Entertainment (CZR) is a United States Consumer Discretionary company (Casinos/Gaming) with a market value of $5.96B, the 1070th largest of 3,117 United States companies the cockpit tracks. Shares closed at $29.23 on 6 Nov 2026.
Performance Over six months the shares gained 4.2%, against -13.2% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 18 in its peer set.
Growth Revenue grew 3.1% over the last twelve months (peer median +6.1%); the operating margin is 17.3% (peer median 18.5%).
Valuation It trades at 2.5× enterprise value to sales against a peer median of 2.3× (8th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.3 points below its cost of capital (7.2% WACC).
Credit Caesars Entertainment has 3 bonds outstanding ($4.60B), rated BB- by the agencies and trading like B at a weighted spread of 370 bp.
Short interest Short interest is 10.1% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $11.7B | $11.5B | $11.2B | $11.5B | $10.8B |
| Revenue growth | — | +2% | -2% | +7% | — |
| Gross profit | $4.41B | $4.33B | $4.50B | $4.87B | $4.21B |
| EBITDA | $3.44B | $3.50B | $3.60B | $3.81B | $3.12B |
| Net income | -$533M | -$502M | -$278M | $786M | -$899M |
| Free cash flow | $484M | $520M | -$182M | $545M | $23.0M |
| Capital expenditure | $777M | $809M | $1.31B | $1.29B | $963M |
| Total debt | $24.7B | $25.6B | $25.8B | $25.8B | $26.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Caesars Entertainment CZR | $5.96B | +4% | +3% | 17% | 2.5× | 5.8% |
| MGM Resorts MGM | $8.18B | -17% | +3% | 6% | 2.0× | 16.0% |
| Boyd Gaming BYD | $5.41B | -11% | 0% | 19% | 2.0× | n/a |
| Wynn Resorts WYNN | $8.56B | -19% | +6% | 16% | 2.4× | 1.7% |
| Flutter Entertainment FLUT | $14.2B | -19% | +12% | 2% | 1.4× | 26.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CZR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.0% | +4.9% | 5th lowest of 18 |
| 6-month return | +4.2% | -13.2% | 2nd highest of 18 |
| Distance from 52-week high | -5.3% | -37.3% | 2nd highest of 18 |
| Revenue growth (TTM) | +3.1% | +6.1% | 8th lowest of 18 |
| Operating margin | 17.3% | 18.5% | 9th lowest of 18 |
| EV / Sales | 2.5× | 2.3× | 8th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 5.8% | 2.1% | 5th most demanding of 15 |
| Growth delivered (Del g) | +25.9% | +27.7% | 7th lowest of 15 |
| Hurdle (Req g minus delivered) | -20.1 pp | -21.6 pp | 8th least demanding of 15 |
| ROIC minus cost of capital | -1.3 pp | +6.5 pp | 4th lowest of 18 |
| EV / EBITDA | 8.7× | 8.2× | 8th most expensive of 17 |
| Net debt / EBITDA | 6.9× | 2.8× | 3rd most indebted of 18 |
| Bond spread | 370 bp | 189 bp | widest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Caesars Entertainment CZR | United States | $5.96B | +4% | +3% | 17% | 2.5× | 5.8% | +25.9% |
| Super Group (SGHC) SGHC | United States | $5.77B | -13% | +14% | 23% | 2.1× | -0.2% | +16.6% |
| Light & Wonder, Inc. Shs Chess Depository Interests Repr 1 Sh LNW.AX | Australia | $6.22B | +1% | 0% | 27% | 3.2× | -8.5% | +15.8% |
| Boyd Gaming BYD | United States | $5.41B | -11% | 0% | 19% | 2.0× | n/a | n/a |
| Lottomatica LTMC.MI | Italy | $7.17B | +4% | +4% | 21% | 3.7× | -1.4% | +42.7% |
| MGM China 2282.HK | Hong Kong | $4.85B | -12% | +11% | 31% | 2.6× | -3.1% | +48.5% |
| FDJ United FDJU.PA | France | $4.49B | -5% | +3% | 15% | 1.6× | -2.8% | +13.9% |
| MGM Resorts MGM | United States | $8.18B | -17% | +3% | 6% | 2.0× | 16.0% | +27.7% |
| Wynn Resorts WYNN | United States | $8.56B | -19% | +6% | 16% | 2.4× | 1.7% | +27.8% |
| Entain ENT.L | United Kingdom | $4.05B | -11% | 0% | 11% | 1.3× | 3.2% | +8.1% |
| Sands China 1928.HK | Hong Kong | $11.4B | -30% | +9% | 26% | 3.6× | 2.5% | +34.0% |
| Wynn Macau 1128.HK | Hong Kong | $2.99B | -24% | +9% | 29% | 3.3× | -2.4% | +31.1% |
| Rush Street Interactive RSI | United States | $2.83B | -56% | +39% | 11% | 1.8× | 13.5% | +32.4% |
| Flutter Entertainment FLUT | United States | $14.2B | -19% | +12% | 2% | 1.4× | 26.3% | +23.7% |
| PENN Entertainment PENN | United States | $2.34B | +4% | +6% | 6% | 1.7× | 15.2% | +14.2% |
| Kangwonland 035250.KS | South Korea | $2.13B | -16% | +2% | 15% | n/a | n/a | n/a |
| Galaxy Ent 0027.HK | Hong Kong | $19.4B | +8% | +8% | 32% | 4.5× | 2.8% | +28.7% |
| Brightstar Lottery BRSL | United States | $1.82B | -24% | +1% | 25% | 2.8× | n/a | n/a |
Caesars Entertainment has 3 bonds outstanding with $4.60B face value. The agencies rate it BB-; its bonds trade like B. Weighted yield 8.37%, a spread of 370 bp over government bonds.