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Caesars Entertainment
(NASDAQ:CZR)
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Rating:54Neutral
Price Target:
$30.00
▲(1.15% Upside)
Action:Reiterated
Date:08/28/26
The score is held back primarily by weaker recent profitability and heavy leverage despite solid operating/FCF generation. Technicals are broadly neutral with soft momentum, and valuation is difficult to assess due to negative earnings. Offsetting these factors, the announced all-cash acquisition at $31/share is a meaningful positive corporate event supporting the overall score.
Positive Factors
Positive Cash Generation
Consistent operating cash flow and renewed positive free cash flow provide internal funding for property investment, debt service and business operations. Although leverage limits flexibility, recurring cash generation is a durable strength of Caesars’ resort portfolio.
Negative Factors
Heavy Balance Sheet Leverage
Very high leverage leaves Caesars with limited financial cushion if resort demand weakens, refinancing costs rise or integration needs increase. A large portion of operating cash flow is required to support debt obligations, restricting strategic flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive Cash Generation
Consistent operating cash flow and renewed positive free cash flow provide internal funding for property investment, debt service and business operations. Although leverage limits flexibility, recurring cash generation is a durable strength of Caesars’ resort portfolio.
Read all positive factors
Caesars Entertainment (CZR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.04B
Dividend YieldN/A
Average Volume (3M)3.51M
Price to Earnings (P/E)―
Beta (1Y)1.40
Revenue Growth2.41%
EPS Growth-146.70%
CountryUS
Employees50,000
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-2.28
Shares Outstanding203,780,120
10 Day Avg. Volume2,667,372
30 Day Avg. Volume3,505,351
Financial Highlights & Ratios
PEG Ratio-0.11
Price to Book (P/B)1.39
Price to Sales (P/S)0.42
P/FCF Ratio9.36
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$31.00Price Target Upside4.52% Upside
Rating ConsensusHold
Number of Analyst Covering8
EPS Forecast (FY)-0.87
Revenue Forecast (FY)$11.87B
Caesars Entertainment Business Overview & Revenue Model
Company Description
Caesars Entertainment, Inc. stands as a prominent gaming and lodging enterprise with extensive operations throughout the United States. The company manages numerous casinos, offering diverse gambling options like poker, keno, horse racing, and dig...
How the Company Makes Money
Caesars primarily makes money by monetizing customer spending across its casino resorts and its digital betting products. (1) Casino gaming revenue: The largest core driver is gaming activity at its properties, where Caesars earns the net win from...
Caesars Entertainment Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call conveyed a generally positive operational and strategic picture: consolidated revenues grew 3% and adjusted EBITDAR was essentially flat, while the Digital segment posted record revenue and margin expansion (net revenue + strong flow-through and EBITDA margin up 566 bps). Las Vegas showed strong occupancy and improving group trends, and regionals grew revenue and benefitted from strategic investments and the Windsor addition. Headwinds include modest EBITDAR declines in Las Vegas and regionals on comparable events, sports volume softness and hold-driven variability, some short-term softness in April, and near-term cash outflows that delayed buybacks. Overall, the positives — especially digital momentum, solid revenue growth, and a constructive free cash flow outlook — outweigh the headwinds.Positive Updates
Consolidated Revenue Growth
Consolidated net revenues of $2.9 billion, up $77 million or 3% year-over-year for Q1 2026.
Negative Updates
Las Vegas EBITDAR Decline
Las Vegas adjusted EBITDAR was $426 million versus $433 million in the prior year (down $7 million) on flat revenues, with leisure trends still down year-over-year versus H2 2025 despite better group performance.
Read all updates
Q1-2026 Updates
Positive
Negative
Consolidated Revenue Growth
Consolidated net revenues of $2.9 billion, up $77 million or 3% year-over-year for Q1 2026.
Read all positive updates
Company Guidance
Management guided to sequential improvement in Las Vegas operating trends for the remainder of 2026 and said it expects to deliver strong free cash flow in 2026 as cash interest and CapEx decline; consolidated Q1 results were $2.9B net revenue (+$77M, +3% YoY) and $887M adjusted EBITDAR (+$3M), with Las Vegas adjusted EBITDAR $426M (vs. $433M prior year) on 95.3% occupancy and ADR +1%, Regionals $1.4B net revenue (+3% YoY) and $435M adjusted EBITDAR (‑$5M YoY, improved ex‑Super Bowl), and Digital posted record Q1 net revenue $374M and adjusted EBITDA $69M (18.4% margin, +566 bps) with flow‑through just over 66%; Digital detail: sports net revenue +9%, total volume ‑3%, mobile volume ‑1%, hold +100 bps to 8.3%; iCasino net revenue +18%, ~512k monthly unique players (+2%) and ARMP $219 (+15%), universal wallet/PAM live in 27 jurisdictions (target all by end of April); strategic/financial priorities include completing capital projects (Omnia May 15, Tahoe Master Plan June 2026, Augustus Tower early‑2027, Category 10 later in 2026), having invested >$3B in regional CapEx over five years, the Caesars Windsor acquisition ($54M, March 3), pursuing long‑term digital targets (20% top‑line growth with ~50% flow‑through to EBITDA and $500M+ digital EBITDA), targeting sub‑5x lease‑adjusted leverage, and returning to a mix of debt paydown and share repurchases as free cash flow accumulates (noting Q1 cash outflows included bonus, interest and the >$50M Windsor buyout and partnership expense roll‑offs that favor Q3/Q4 ’26 and Q1 ’27).Caesars Entertainment Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
24
Negative
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.65B | 11.49B | 11.24B | 11.53B | 10.82B | 9.57B |
| Gross Profit | 6.59B | 4.33B | 5.83B | 6.13B | 5.42B | 4.92B |
| EBITDA | 3.27B | 3.29B | 3.58B | 3.56B | 2.92B | 2.17B |
| Net Income | -444.00M | -502.00M | -278.00M | 786.00M | -899.00M | -1.02B |
Balance Sheet | ||||||
| Total Assets | 31.74B | 31.64B | 32.59B | 33.37B | 33.53B | 38.03B |
| Cash, Cash Equivalents and Short-Term Investments | 1.06B | 887.00M | 866.00M | 1.00B | 1.04B | 1.07B |
| Total Debt | 24.86B | 26.34B | 25.06B | 25.07B | 25.43B | 26.27B |
| Total Liabilities | 28.19B | 27.95B | 28.21B | 28.65B | 29.78B | 33.49B |
| Stockholders Equity | 3.38B | 3.50B | 4.16B | 4.55B | 3.71B | 4.48B |
Cash Flow | ||||||
| Free Cash Flow | 610.00M | 520.00M | -182.00M | 545.00M | 23.00M | 652.00M |
| Operating Cash Flow | 1.30B | 1.32B | 1.11B | 1.81B | 975.00M | 1.17B |
| Investing Cash Flow | -548.00M | -594.00M | -743.00M | -1.14B | -382.00M | -2.92B |
| Financing Cash Flow | -758.00M | -763.00M | -498.00M | -829.00M | -1.28B | -550.00M |
Caesars Entertainment Technical Analysis
Neutral
29.66
Price Trends
29.85
Negative
29.15
Positive
26.58
Positive
Market Momentum
-0.03
Negative
47.18
Neutral
46.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CZR, the sentiment is Neutral. The current price of 29.66 is below the 20-day moving average (MA) of 29.67, below the 50-day MA of 29.85, and above the 200-day MA of 26.58, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 47.18 is Neutral, neither overbought nor oversold. The STOCH value of 46.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CZR.
Caesars Entertainment Risk Analysis
Caesars Entertainment disclosed 39 risk factors in its most recent earnings report. Caesars Entertainment reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Caesars Entertainment Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $5.56B | 3.32 | 70.49% | 1.01% | 1.75% | 249.96% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $9.50B | 20.65 | -174.87% | 1.11% | 6.36% | 21.32% | |
61 Neutral | $5.89B | 14.11 | 91.10% | 3.69% | 0.86% | -3.37% | |
58 Neutral | $10.25B | 24.35 | 16.96% | 0.03% | 3.19% | -8.14% | |
54 Neutral | $6.04B | -13.01 | -12.62% | ― | 2.41% | -146.70% | |
52 Neutral | $2.27B | -2.71 | -48.48% | 5.71% | 6.14% | -1168.84% |
* Consumer Cyclical Sector Average
CZR
Caesars Entertainment
29.67
4.04
15.76%
BYD
Boyd Gaming
75.41
-9.10
-10.76%
MGM
MGM Resorts
40.66
4.71
13.10%
PENN
PENN Entertainment
17.17
-2.93
-14.58%
WYNN
Wynn Resorts
90.23
-31.53
-25.89%
RRR
Red Rock Resorts
55.02
-4.54
-7.62%
Caesars Entertainment Corporate Events
Executive/Board ChangesRegulatory Filings and Compliance
Caesars Entertainment Announces Routine Board Member Resignation
Neutral
Jul 8, 2026
On July 6, 2026, Caesars Entertainment, Inc. disclosed that Board member Courtney Mather resigned from the company’s Board of Directors, effective the same day. The company noted that Mather’s departure was not due to any disagreement ...
Executive/Board ChangesShareholder Meetings
Caesars Shareholders Approve Directors, Executive Pay and Auditor
Positive
Jun 12, 2026
At its 2026 Annual Meeting held on June 9, 2026, Caesars Entertainment reported that shareholders holding 179.3 million common shares were present in person or by proxy, constituting a quorum, and voted on three key proposals. All nominated direct...
Delistings and Listing ChangesM&A Transactions
Caesars Entertainment to Be Acquired by Fertitta Entertainment
Positive
May 28, 2026
Caesars Entertainment, Inc., a major U.S. casino and hospitality group, has agreed to be acquired by Fertitta Entertainment in an all‑cash deal valuing the company at about $17.6 billion, including the assumption of roughly $11.9 billion of ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.