Caesars Entertainment (CZR)
Market Price (10/2/2026): $29.585 | Market Cap: $6.0 BilSector: Consumer Discretionary | Industry: Casinos & Gaming
Caesars Entertainment (CZR)
Market Price (10/2/2026): $29.585Market Cap: $6.0 BilSector: Consumer DiscretionaryIndustry: Casinos & Gaming
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% Attractive yieldFCF Yield is 10% Low stock price volatilityVol 12M is 46% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Markets & Betting. Themes include Travel & Leisure Tech, Experiential Retail, Show more. | Trading close to highsDist 52W High is -2.6% Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -115% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 395% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.7% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% Key risksCZR key risks include [1] a substantial debt burden that exposes it to interest rate volatility and [2] intense competition and regulatory challenges in its digital segment that strain profitability. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Attractive yieldFCF Yield is 10% |
| Low stock price volatilityVol 12M is 46% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Markets & Betting. Themes include Travel & Leisure Tech, Experiential Retail, Show more. |
| Trading close to highsDist 52W High is -2.6% |
| Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -115% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 395% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.7% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% |
| Key risksCZR key risks include [1] a substantial debt burden that exposes it to interest rate volatility and [2] intense competition and regulatory challenges in its digital segment that strain profitability. |
Qualitative Assessment
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Caesars Entertainment (CZR) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Stock price was capped by the pending acquisition by Fertitta Entertainment at a fixed cash offer.
Caesars Entertainment entered into a definitive agreement on May 28, 2026, to be acquired by Fertitta Entertainment in an all-cash transaction valued at approximately $17.6 billion, including the assumption of roughly $11.9 billion in debt. Under the terms of the agreement, Caesars shareholders are set to receive $31.00 in cash for each outstanding share. This fixed cash offer acts as a strong ceiling for the stock price, as the market anticipates the eventual payout, thereby limiting significant upward movement beyond this offer price during the period since June 30, 2026, while the deal awaits shareholder and regulatory approvals.
2. The company's Q2 fiscal year 2026 earnings, reported in July, missed analyst expectations, contributing to a lack of upward momentum.
On July 28, 2026, Caesars Entertainment reported its fiscal Q2 2026 results (for the period ending June 30, 2026), posting an Earnings Per Share (EPS) of -$0.30, significantly missing the consensus analyst estimate of $0.05 per share. Although quarterly revenue increased 3.0% year-over-year to $2.99 billion, exceeding estimates slightly, the Las Vegas operations segment experienced a 3.5% decline in net revenues and a 12.6% decline in adjusted EBITDA year-over-year during the quarter. This earnings miss and the underperformance in the Las Vegas segment likely dampened investor enthusiasm and prevented any substantial positive movement in the stock price following the report.
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Caesars Entertainment (CZR) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Stock price was capped by the pending acquisition by Fertitta Entertainment at a fixed cash offer.
Caesars Entertainment entered into a definitive agreement on May 28, 2026, to be acquired by Fertitta Entertainment in an all-cash transaction valued at approximately $17.6 billion, including the assumption of roughly $11.9 billion in debt. Under the terms of the agreement, Caesars shareholders are set to receive $31.00 in cash for each outstanding share. This fixed cash offer acts as a strong ceiling for the stock price, as the market anticipates the eventual payout, thereby limiting significant upward movement beyond this offer price during the period since June 30, 2026, while the deal awaits shareholder and regulatory approvals.
2. The company's Q2 fiscal year 2026 earnings, reported in July, missed analyst expectations, contributing to a lack of upward momentum.
On July 28, 2026, Caesars Entertainment reported its fiscal Q2 2026 results (for the period ending June 30, 2026), posting an Earnings Per Share (EPS) of -$0.30, significantly missing the consensus analyst estimate of $0.05 per share. Although quarterly revenue increased 3.0% year-over-year to $2.99 billion, exceeding estimates slightly, the Las Vegas operations segment experienced a 3.5% decline in net revenues and a 12.6% decline in adjusted EBITDA year-over-year during the quarter. This earnings miss and the underperformance in the Las Vegas segment likely dampened investor enthusiasm and prevented any substantial positive movement in the stock price following the report.
3. Broader macroeconomic headwinds, including inflation and rising labor costs, continued to pressure the gaming industry.
During the period, the broader gaming industry faced ongoing challenges from economic and political uncertainty, as well as persistent inflationary pressures. Gaming executives expressed concerns about inflation impacting company margins and consumer spending. Additionally, labor costs remained a significant factor, with average hourly earnings in the leisure and hospitality sector increasing by nearly 40% from 2019 to December 2025, leading to continued wage pressure on margins for casino operators. These industry-wide economic headwinds likely contributed to a cautious investment sentiment, limiting potential growth for Caesars' stock.
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Stock Movement Drivers
Fundamental Drivers
The -1.9% change in CZR stock from 6/30/2026 to 10/1/2026 was primarily driven by a -2.6% change in the company's P/S Multiple.| (LTM values as of) | 6302026 | 10012026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.18 | 29.62 | -1.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11,562 | 11,648 | 0.7% |
| P/S Multiple | 0.5 | 0.5 | -2.6% |
| Shares Outstanding (Mil) | 204 | 204 | 0.0% |
| Cumulative Contribution | -1.9% |
Market Drivers
6/30/2026 to 10/1/2026| Return | Correlation | |
|---|---|---|
| CZR | -1.9% | |
| Market (SPY) | 2.3% | 27.9% |
| Sector (XLY) | -7.2% | 27.4% |
Fundamental Drivers
The 12.1% change in CZR stock from 3/31/2026 to 10/1/2026 was primarily driven by a 10.0% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 10012026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.43 | 29.62 | 12.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11,486 | 11,648 | 1.4% |
| P/S Multiple | 0.5 | 0.5 | 10.0% |
| Shares Outstanding (Mil) | 205 | 204 | 0.5% |
| Cumulative Contribution | 12.1% |
Market Drivers
3/31/2026 to 10/1/2026| Return | Correlation | |
|---|---|---|
| CZR | 12.1% | |
| Market (SPY) | 17.8% | 11.9% |
| Sector (XLY) | 0.0% | 9.4% |
Fundamental Drivers
The 9.6% change in CZR stock from 9/30/2025 to 10/1/2026 was primarily driven by a 4.5% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 10012026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.02 | 29.62 | 9.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11,374 | 11,648 | 2.4% |
| P/S Multiple | 0.5 | 0.5 | 4.5% |
| Shares Outstanding (Mil) | 209 | 204 | 2.5% |
| Cumulative Contribution | 9.6% |
Market Drivers
9/30/2025 to 10/1/2026| Return | Correlation | |
|---|---|---|
| CZR | 9.6% | |
| Market (SPY) | 15.6% | 17.7% |
| Sector (XLY) | -8.6% | 27.0% |
Fundamental Drivers
The -36.1% change in CZR stock from 9/30/2023 to 10/1/2026 was primarily driven by a -40.6% change in the company's P/S Multiple.| (LTM values as of) | 9302023 | 10012026 | Change |
|---|---|---|---|
| Stock Price ($) | 46.35 | 29.62 | -36.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11,417 | 11,648 | 2.0% |
| P/S Multiple | 0.9 | 0.5 | -40.6% |
| Shares Outstanding (Mil) | 215 | 204 | 5.4% |
| Cumulative Contribution | -36.1% |
Market Drivers
9/30/2023 to 10/1/2026| Return | Correlation | |
|---|---|---|
| CZR | -36.1% | |
| Market (SPY) | 84.9% | 47.6% |
| Sector (XLY) | 38.3% | 51.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CZR Return | 26% | -56% | 13% | -29% | -30% | 27% | -60% |
| Peers Return | -20% | -20% | 49% | -8% | 9% | -27% | -30% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| CZR Win Rate | 50% | 33% | 42% | 33% | 58% | 56% | |
| Peers Win Rate | 45% | 40% | 57% | 45% | 60% | 42% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| CZR Max Drawdown | -30% | -66% | -35% | -33% | -53% | -28% | |
| Peers Max Drawdown | -50% | -48% | -32% | -35% | -39% | -39% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MGM, LVS, WYNN, DKNG, PENN. See CZR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/1/2026 (YTD)
How Low Can It Go
| Event | CZR | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.5% | -6.7% |
| % Gain to Breakeven | 29.0% | 7.1% |
| Time to Breakeven | 42 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -89.8% | -33.7% |
| % Gain to Breakeven | 878.2% | 50.9% |
| Time to Breakeven | 251 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.0% | -19.2% |
| % Gain to Breakeven | 53.9% | 23.8% |
| Time to Breakeven | 87 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -24.7% | -3.7% |
| % Gain to Breakeven | 32.8% | 3.9% |
| Time to Breakeven | 27 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -11.0% | -12.2% |
| % Gain to Breakeven | 12.4% | 13.9% |
| Time to Breakeven | 10 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -10.6% | -6.8% |
| % Gain to Breakeven | 11.8% | 7.3% |
| Time to Breakeven | 16 days | 15 days |
In The Past
Caesars Entertainment's stock fell -9.3% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 10.3% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | CZR | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.5% | -6.7% |
| % Gain to Breakeven | 29.0% | 7.1% |
| Time to Breakeven | 42 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -89.8% | -33.7% |
| % Gain to Breakeven | 878.2% | 50.9% |
| Time to Breakeven | 251 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.0% | -19.2% |
| % Gain to Breakeven | 53.9% | 23.8% |
| Time to Breakeven | 87 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -24.7% | -3.7% |
| % Gain to Breakeven | 32.8% | 3.9% |
| Time to Breakeven | 27 days | 6 days |
In The Past
Caesars Entertainment's stock fell -9.3% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 10.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Caesars Entertainment (CZR)
Caesars Entertainment, Inc. (CZR) is a leading gaming and hospitality company operating predominantly across the United States. The company's business model revolves around providing a comprehensive entertainment experience, integrating casino gaming with extensive hospitality services through its physical properties and a growing online presence. Caesars aims to capture market share by offering diverse leisure and gaming options to its customer base.
The main products and services offered by Caesars include a wide array of casino gaming options, such as slot machines, video lottery terminals, e-tables, poker, keno, and traditional table games. Complementing its gaming operations, the company provides substantial hospitality services through its hotels, various dining venues, bars, nightclubs, and entertainment facilities. Additionally, Caesars has expanded significantly into the digital realm, offering online sports betting and iGaming services to its customers. As of late 2021, the company's footprint included 52 owned, leased, and managed domestic properties in 16 states, featuring approximately 47,700 hotel rooms and tens of thousands of gaming devices.
Caesars Entertainment primarily serves individuals seeking entertainment, leisure, and gaming experiences. Its core customer base includes both recreational gamblers and those looking for integrated resort amenities like dining, shows, and overnight accommodations. With properties strategically located across multiple states and a robust online platform, Caesars targets a broad spectrum of consumers in regional and destination markets throughout the United States.
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Here are 1-3 brief analogies for Caesars Entertainment:
- Like Disney Parks, but for adults and focused on gambling and entertainment resorts.
- The Marriott of casino resorts, offering widespread gaming and hospitality across the U.S.
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Here are the major products and services offered by Caesars Entertainment:
- Gaming Operations: Provides traditional casino games such as poker, keno, and race betting, alongside online sports betting and iGaming services.
- Hotel Accommodations: Offers a wide range of hotel rooms and lodging experiences across its numerous properties.
- Food & Beverage Services: Operates various dining venues, bars, nightclubs, and lounges for guests.
- Entertainment Venues: Hosts a variety of live shows, concerts, and events in its dedicated entertainment spaces.
- Retail Sales: Sells accessories, souvenirs, and decorative items through its on-site retail stores.
- Staffing and Management Services: Provides professional staffing and management expertise for various operations.
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Caesars Entertainment (CZR) primarily sells its services directly to individuals rather than other companies. Based on its operations, its major customer categories include:
- Gamblers and Bettors: Individuals who visit Caesars' casinos to participate in various games such as poker, keno, table games, and slot machines, as well as those who engage in online sports betting and iGaming services through its platforms.
- Leisure, Hospitality, and Entertainment Guests: Individuals who utilize Caesars' hotels for accommodation, dine at its various restaurants, bars, nightclubs, and lounges, and attend entertainment events and shows held at its venues. This category includes tourists, vacationers, and business travelers seeking a full hospitality and entertainment experience.
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Thomas R. Reeg, Chief Executive Officer
Thomas R. Reeg is the Chief Executive Officer of Caesars Entertainment. He previously served as Chief Executive Officer of Eldorado Resorts, Inc. since January 2019 and was instrumental in spearheading the acquisition of Caesars Entertainment Corporation in 2020. He also served as President of Eldorado Resorts, Inc. since September 2014, and as its Chief Financial Officer from March 2016 to 2019. Reeg's involvement with Eldorado Resorts dates back to 2007 when he joined its Board of Managers. He masterminded the $17.3 billion merger between Eldorado Resorts and Caesars Entertainment in 2020 and was instrumental in negotiating, structuring, and financing Eldorado's growth strategy, including several key acquisitions such as MTR Resorts (2014), Isle of Capri Casinos, Inc. (2017), Grand Victoria Casino, and Tropicana Entertainment (2018). Prior to his roles at Eldorado, he was a Managing Director and portfolio manager at AIG Global Investment Group (2002-2005) and a senior high-yield research analyst at Bank One Capital Markets, covering the casino, lodging, and leisure sectors. He was also a founding partner and director of Newport Global Advisors (2005-2010), an indirect stockholder of Eldorado Resorts.
Bret Yunker, Chief Financial Officer
Bret Yunker is the Chief Financial Officer of Caesars Entertainment. He served as Chief Financial Officer of Eldorado Resorts, Inc. since May 2019, prior to the acquisition of Caesars Entertainment Corporation. Mr. Yunker is responsible for all of the Company's financial and treasury functions, including financial reporting, bank relationships, investor relations, and M&A activity. He brings over twenty years of gaming industry investment banking experience to his position, having most recently served as Managing Director at J.P. Morgan in its Real Estate Investment Banking group, where he had primary coverage responsibility for the domestic and international gaming industry. He began his banking career in 1998, serving for fourteen years in various investment banking roles, including as Managing Director at Bank of America Merrill Lynch.
Anthony Carano, President and Chief Operating Officer
Anthony Carano is the President and Chief Operating Officer of Caesars Entertainment, Inc. He joined Eldorado Resorts, a company founded by his grandfather, Don Carano, in 2014. Before the merger, he served as Executive Vice President, General Counsel, and Corporate Secretary at Eldorado, and later as Executive Vice President of Operations. Following Eldorado's acquisition of Caesars Entertainment Corporation in 2020, he continued in his role as President and Chief Operating Officer. Carano was actively involved in mergers and acquisitions and regulatory negotiations during Eldorado's period of aggressive growth. Prior to joining Eldorado, he practiced law in Nevada with McDonald Carano Wilson, LLP, specializing in gaming, transactional, and regulatory law.
Stephanie Lepori, Chief Administrative and Accounting Officer
Stephanie Lepori serves as Chief Administrative and Accounting Officer at Caesars Entertainment, Inc. She is also CFO, Treasurer, CAO & Controller at Circus & Eldorado Joint Venture LLC. Ms. Lepori joined Eldorado Resorts in 1995 and played a pivotal role in its growth, including the acquisition of Caesars Entertainment Corporation in 2020. Her leadership and financial management skills have been significant in numerous large-scale financing transactions and growth initiatives, including acquisitions and divestitures. Before joining Eldorado, she began her career as an auditor in Las Vegas with Arthur Andersen LLP. She previously held the roles of Principal Accounting Officer for Eldorado Resorts since January 2016 and Chief Administrative Officer for Eldorado since 2017.
Eric Hession, Co-President of Caesars Sports and Online Gaming
Eric Hession currently serves as Co-President of Caesars Sports and Online Gaming. He previously served as Chief Financial Officer and Executive Vice President of Caesars Entertainment Corporation from January 1, 2015, and as its Treasurer since November 2011. Mr. Hession joined Caesars Entertainment (then Harrah's Entertainment) in 2002 and held various senior roles in finance, including Senior Vice President of Finance, Vice President of Finance, and Vice President of Corporate Finance. Before his tenure at Caesars, he worked for four years with Merck & Co. in financial and industrial engineering roles.
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The key risks to Caesars Entertainment's business include its significant debt load, sensitivity to economic downturns and consumer spending, and intense competition coupled with an evolving regulatory landscape, particularly within its digital gaming segment.
- High Debt and Financial Commitments: Caesars Entertainment carries a substantial level of debt, which affects its financial flexibility and ability to fund future projects or respond effectively to market downturns. The company's strategic acquisitions and expansions have been financed through borrowing, resulting in significant indebtedness. This debt, along with lease obligations, represents considerable financial commitments that require careful management to maintain operational stability.
- Economic Sensitivity and Volatility in Consumer Spending: As a gaming and hospitality company, Caesars Entertainment's performance is highly sensitive to macroeconomic conditions and discretionary consumer spending. Economic downturns, inflation, or broader economic headwinds can negatively impact gaming revenues and hotel occupancy rates, particularly affecting segments reliant on discretionary spending and tourism, such as its Las Vegas operations.
- Intense Competition and Evolving Regulatory Environment: The gaming and hospitality industry is fiercely competitive, with challenges arising from both traditional brick-and-mortar casinos and the rapidly expanding online gaming and sports betting markets. Caesars must continually invest in technology, marketing, and customer acquisition to maintain its market position in these competitive environments. Additionally, the industry is subject to complex and evolving regulatory landscapes, especially for its digital segment, which introduces ongoing compliance costs and the potential for new taxes or restrictions.
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Intensifying competition from pure-play online sports betting and iGaming operators. These digitally native companies, unburdened by extensive physical infrastructure and legacy operations, can often be more agile, innovative, and cost-efficient in customer acquisition and product development within the rapidly expanding online gambling market, potentially eroding Caesars' market share and profitability in this crucial growth segment.
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Caesars Entertainment, Inc. (CZR) operates in several addressable markets within the United States, primarily focusing on gaming and hospitality services.
U.S. Commercial Casino Gaming Market
The U.S. traditional casino gaming market generated approximately $50.94 billion in revenue in 2025. In 2024, the commercial casino revenue stood at $49.89 billion. This market is projected to grow by USD 9.5 billion with a compound annual growth rate (CAGR) of 3.22% between 2023 and 2028.
U.S. Hotel Market
The U.S. hotels market size was estimated at USD 263.21 billion in 2024 and is projected to reach USD 280.63 billion in 2025. The market is expected to grow at a CAGR of 7.1% from 2025 to 2030, potentially reaching USD 395.69 billion by 2030. Another report valued the USA Hotel Market at USD 260 billion based on a five-year historical analysis.
U.S. Online Sports Betting Market
The total sports betting revenue in the U.S. reached $16.96 billion in 2025, with online sports betting accounting for 96.5% of this market share. This suggests an online sports betting market of approximately $16.36 billion in 2025. The U.S. sports betting market size was estimated at USD 17.94 billion in 2024 and is expected to grow to USD 19.76 billion in 2025. In 2024, sports betting revenue grew 25% to $13.78 billion. The US online sports betting market was valued at $14 billion in 2023 and is projected to reach $33 billion by 2032, with a CAGR of around 10.3% between 2024 and 2032.
U.S. iGaming Market
The iGaming market in the U.S. generated $10.74 billion in revenue in 2025. In December of the same year, iGaming surpassed $1 billion in monthly revenue, reaching $1.03 billion. In 2024, revenue from legal iGaming in seven states increased 28.7% to $8.4 billion.
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Caesars Entertainment (CZR) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
- Continued Expansion and Growth of Caesars Digital: The company is significantly investing in its online gaming, sports betting, and iGaming platforms to strengthen its digital presence and capitalize on the growing popularity of online gambling. Caesars Digital has demonstrated strong performance, with management targeting $500 million in digital EBITDA by 2026 or 2027. This growth is supported by strategic digital acquisitions, enhancement of digital platforms, and improved customer retention through technology upgrades.
- Property Enhancements and Modernization of Physical Assets: Caesars Entertainment is allocating substantial capital expenditures to renovate and upgrade its existing portfolio of properties, including hotels, casinos, and entertainment venues. These investments aim to modernize facilities, improve amenities, and enhance the overall guest experience to attract a wider customer base. Examples include renovations at properties in Las Vegas and regional casinos.
- Expansion into New Regulated Markets for Digital Offerings: The ongoing legalization of online sports betting and iGaming in new jurisdictions across the United States presents a significant opportunity for Caesars Digital to expand its reach and increase market share and revenue. The rollout of a universal digital wallet across more operational markets is also designed to provide seamless access for customers.
- Growth in Las Vegas Group and Convention Business: Despite some softness in leisure travel, strong group and convention bookings are anticipated to be a significant driver for the Las Vegas segment, offsetting other trends and contributing to revenue growth. The company expects group business to continue supporting Las Vegas performance through the first half of the year.
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Share Repurchases
- Caesars Entertainment executed $140 million in share buybacks during the third quarter of 2024.
- From mid-2024 through Q4 2025, aggregate share repurchases amounted to $420 million for 14.7 million shares.
- The annual share buybacks were $191 million in 2024 and $229 million in 2025.
Share Issuance
- No significant share issuance for capital raising purposes was identified within the last 3-5 years.
Inbound Investments
- In April 2024, a new $425 million bank financing was secured at the joint venture level for the Danville property to cover its remaining capital expenditure requirements.
Outbound Investments
- Caesars Entertainment sold the international operations of William Hill in 2022.
- In July 2024, the company acquired ZeroFlucs, an Australia-based sports betting technology company.
- On July 10, 2023, Caesars completed the acquisition of the remaining 24.2% equity ownership in Horseshoe Baltimore for $66 million.
Capital Expenditures
- Capital expenditures totaled $1.3 billion in 2023, $952 million in 2022, and $520 million in 2021.
- Expected capital expenditures for 2024, excluding the Danville joint venture, were projected to be $800 million.
- For 2025, the budgeted cash capital expenditures, excluding the Danville joint venture, are approximately $600 million, with a gross CapEx running between $600 million to $650 million. The primary focus includes major renovations at Caesars Palace, the upcoming Tahoe master plan, and the rebranding of Cromwell. Capital expenditures are expected to decrease in 2026 following the completion of major growth projects in Virginia and New Orleans.
Peer Outperformance in Casinos & Gaming
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| CZR | Caesars Entertainment | 0.7% | -13.0x | 14.1% | -36.8% | -75.2% | — |
| MCRI | Monarch Casino & Resort | 4.4% | 18.1x | 11.2% | 93.2% | 86.2% | +161pp |
| BYD | Boyd Gaming | 3.7% | 2.7x | -23.4% | 13.6% | 4.5% | +80pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 8 | -17.9% | 94.3% | 109.4% | CVSA 229% · PRDO 214% · UTI 173% |
| Apparel Retail | 10 | 8.5% | 109.3% | 69.9% | ANF 252% · URBN 159% · ROST 123% |
| Homebuilding | 15 | -12.7% | 33.2% | 43.9% | GRBK 219% · PHM 164% · TOL 160% |
| Automotive Retail | 13 | -17.7% | 12.4% | 34.0% | MUSA 211% · PAG 125% · ORLY 111% |
| Broadline Retail | 6 | 17.5% | 52.3% | 33.7% | EBAY 65% · AMZN 51% · OLLI 47% |
| Automobile Manufacturers | 4 | -6.9% | 30.5% | 27.5% | GM 56% · TSLA 37% · F 18% |
| Specialty Stores | 7 | -1.4% | 40.3% | 22.9% | SIG 37% · FIVE 27% · ASO 24% |
| Footwear | 4 | 7.3% | 44.7% | 5.3% | DECK 31% · SHOO 26% · CROX -16% |
| Hotels, Resorts & Cruise Lines | 17 | 7.0% | 32.6% | -1.9% | RCL 202% · MAR 137% · HLT 132% |
| Home Improvement Retail | 3 | -26.8% | -5.9% | -2.8% | LOW -1% · HD -3% · FND -61% |
| Casinos & Gaming ← | 10 | -19.5% | -14.3% | -2.9% | MCRI 86% · RRR 15% · RSI 5% |
| Restaurants | 16 | -11.8% | 12.3% | -8.2% | EAT 272% · CAKE 146% · TXRH 80% |
| Specialized Consumer Services | 7 | -19.6% | 13.1% | -10.7% | HRB 96% · FTDR 79% · SCI 37% |
| Other Specialty Retail | 5 | -39.8% | -12.7% | -13.6% | WINA 60% · ULTA 46% · TSCO -14% |
| Automotive Parts & Equipment | 15 | -7.6% | -21.0% | -13.7% | BWA 68% · ALV 52% · DAN 33% |
| Home Furnishings | 4 | -6.8% | 25.4% | -14.5% | SGI 42% · LZB 1% · MHK -30% |
| Distributors | 4 | -14.9% | -26.9% | -15.1% | ARMK 123% · GPC 19% · LKQ -49% |
| Leisure Products | 8 | -4.5% | -11.6% | -32.9% | GOLF 85% · HAS 24% · MAT -20% |
| Apparel, Accessories & Luxury Goods | 12 | -1.3% | -2.9% | -42.3% | TPR 256% · RL 248% · KTB 48% |
| Computer & Electronics Retail | 3 | -12.9% | 46.9% | -45.5% | BBY 5% · GME -45% · UPBD -63% |
| Leisure Facilities | 3 | -41.3% | 48.0% | -47.0% | OSW 124% · PRKS -47% · PLNT -50% |
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Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 30.64 |
| Mkt Cap | 7.8 |
| Rev LTM | 11,648 |
| Op Inc LTM | 1,258 |
| FCF LTM | 792 |
| FCF 3Y Avg | 833 |
| CFO LTM | 1,459 |
| CFO 3Y Avg | 1,380 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.1% |
| Rev Chg 3Y Avg | 6.4% |
| Rev Chg Q | 3.0% |
| QoQ Delta Rev Chg LTM | 0.7% |
| Op Inc Chg LTM | -1.0% |
| Op Inc Chg 3Y Avg | 82.1% |
| Op Mgn LTM | 17.0% |
| Op Mgn 3Y Avg | 17.8% |
| QoQ Delta Op Mgn LTM | -0.4% |
| CFO/Rev LTM | 13.9% |
| CFO/Rev 3Y Avg | 14.3% |
| FCF/Rev LTM | 8.4% |
| FCF/Rev 3Y Avg | 8.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.8 |
| P/S | 0.5 |
| P/Op Inc | 6.4 |
| P/EBIT | 6.1 |
| P/E | 13.9 |
| P/CFO | 4.7 |
| Total Yield | 5.5% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 5.9% |
| D/E | 3.8 |
| Net D/E | 3.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -13.9% |
| 3M Rtn | -21.4% |
| 6M Rtn | -16.5% |
| 12M Rtn | -24.0% |
| 3Y Rtn | -16.7% |
| 1M Excs Rtn | -14.4% |
| 3M Excs Rtn | -23.8% |
| 6M Excs Rtn | -33.4% |
| 12M Excs Rtn | -39.3% |
| 3Y Excs Rtn | -96.7% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Casino | 6,617 | 6,267 | 6,367 | 5,997 | 5,827 |
| Hotel | 1,945 | 2,016 | 2,090 | 1,957 | 1,551 |
| Food and beverage | 1,714 | 1,716 | 1,728 | 1,596 | 1,140 |
| Other | 1,210 | 1,246 | 1,343 | 1,271 | 1,052 |
| Total | 11,486 | 11,245 | 11,528 | 10,821 | 9,570 |
| $ Mil | 2015 | 2014 |
|---|---|---|
| Eastern | 56 | |
| Louisiana | 21 | |
| Nevada | 14 | |
| Corporate | -19 | |
| Eldorado Shreveport | 13 | |
| EldoradoReno | -3 | |
| MTRGaming | 7 | |
| Total | 73 | 18 |
| $ Mil | 2015 | 2014 |
|---|---|---|
| Eastern | 883 | |
| Corporate | 495 | |
| Nevada | 377 | |
| Louisiana | 135 | |
| Eliminating entries | -566 | -127 |
| Eldorado Shreveport | 144 | |
| EldoradoReno | 236 | |
| MTRGaming | 922 | |
| Total | 1,325 | 1,175 |
Price Behavior
| Market Price | $29.62 | |
| Market Cap ($ Bil) | 6.0 | |
| First Trading Date | 09/22/2014 | |
| Distance from 52W High | -2.6% | |
| 50 Days | 200 Days | |
| DMA Price | $29.73 | $27.12 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -0.4% | 9.2% |
| 3M | 1YR | |
| Volatility | 7.0% | 46.2% |
| Downside Capture | 35.54 | 47.60 |
| Upside Capture | 16.74 | 55.04 |
| Correlation (SPY) | 29.2% | 17.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.02 | 0.18 | 0.18 | 0.19 | 0.63 | 1.44 |
| Up Beta | 0.02 | 0.36 | 0.05 | -0.27 | 0.52 | 1.49 |
| Down Beta | 0.05 | -0.08 | 0.17 | -0.15 | 1.17 | 1.49 |
| Up Capture | 1% | 12% | 16% | 46% | 36% | 136% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 9 | 16 | 25 | 62 | 123 | 353 |
| Down Capture | 5% | 20% | 32% | 45% | 56% | 110% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 10 | 21 | 34 | 59 | 123 | 388 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CZR | |
|---|---|---|---|---|
| CZR | 9.6% | 46.3% | 0.33 | - |
| Sector ETF (XLY) | -8.7% | 19.4% | -0.59 | 27.0% |
| Equity (SPY) | 15.7% | 13.0% | 0.85 | 17.7% |
| Gold (GLD) | 7.7% | 29.6% | 0.25 | 2.6% |
| Commodities (DBC) | 43.7% | 20.8% | 1.64 | 4.4% |
| Real Estate (VNQ) | 1.2% | 13.6% | -0.16 | 17.6% |
| Bitcoin (BTCUSD) | -27.0% | 44.5% | -0.58 | 13.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CZR | |
|---|---|---|---|---|
| CZR | -23.2% | 51.6% | -0.33 | - |
| Sector ETF (XLY) | 4.2% | 24.1% | 0.13 | 61.4% |
| Equity (SPY) | 13.0% | 17.2% | 0.57 | 59.3% |
| Gold (GLD) | 18.6% | 18.9% | 0.80 | 5.7% |
| Commodities (DBC) | 10.3% | 19.6% | 0.40 | 12.3% |
| Real Estate (VNQ) | 0.4% | 18.9% | -0.08 | 52.0% |
| Bitcoin (BTCUSD) | 13.2% | 52.3% | 0.43 | 27.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CZR | |
|---|---|---|---|---|
| CZR | 7.8% | 60.6% | 0.38 | - |
| Sector ETF (XLY) | 11.7% | 22.2% | 0.48 | 59.2% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 57.1% |
| Gold (GLD) | 11.6% | 16.4% | 0.58 | 4.3% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 20.6% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.17 | 49.6% |
| Bitcoin (BTCUSD) | 63.9% | 66.2% | 1.04 | 18.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/28/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/28/2026 | -0.6% | 0.6% | -1.0% |
| 4/28/2026 | 0.3% | 2.9% | 6.5% |
| 2/17/2026 | 13.0% | 7.3% | 44.7% |
| 10/28/2025 | -15.2% | -9.4% | 3.8% |
| 7/29/2025 | -2.0% | -11.6% | -5.3% |
| 4/29/2025 | -3.3% | -4.1% | -2.6% |
| 2/25/2025 | -0.9% | -11.9% | -20.8% |
| 10/29/2024 | -8.2% | -14.3% | -15.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 14 | 13 |
| # Negative | 14 | 11 | 12 |
| Median Positive | 2.8% | 3.7% | 12.1% |
| Median Negative | -1.8% | -7.8% | -11.7% |
| Max Positive | 13.0% | 9.4% | 44.7% |
| Max Negative | -15.2% | -25.0% | -23.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/28/2026 | -0.6% | 0.6% | -1.0% |
| 4/28/2026 | 0.3% | 2.9% | 6.5% |
| 2/17/2026 | 13.0% | 7.3% | 44.7% |
| 10/28/2025 | -15.2% | -9.4% | 3.8% |
| 7/29/2025 | -2.0% | -11.6% | -5.3% |
| 4/29/2025 | -3.3% | -4.1% | -2.6% |
| 2/25/2025 | -0.9% | -11.9% | -20.8% |
| 10/29/2024 | -8.2% | -14.3% | -15.5% |
| 7/30/2024 | 8.3% | -6.3% | 0.5% |
| 4/30/2024 | 1.6% | 1.5% | -11.1% |
| 2/20/2024 | 1.4% | 0.7% | 0.2% |
| 10/31/2023 | -1.1% | 9.4% | 12.1% |
| 8/1/2023 | -4.3% | -2.1% | -6.7% |
| 5/2/2023 | -1.3% | 1.9% | -6.6% |
| 2/21/2023 | 5.4% | -0.9% | -16.3% |
| 11/1/2022 | -0.7% | 0.6% | 16.8% |
| 8/2/2022 | 0.2% | -6.2% | -12.3% |
| 5/3/2022 | -1.9% | -25.0% | -23.3% |
| 2/22/2022 | 2.8% | 8.4% | 0.6% |
| 11/2/2021 | -0.9% | -7.8% | -19.4% |
| 8/3/2021 | -2.1% | 4.4% | 17.4% |
| 5/4/2021 | 7.8% | 5.5% | 14.7% |
| 2/25/2021 | 9.7% | 6.7% | 2.8% |
| 11/5/2020 | 1.4% | 2.9% | 33.4% |
| 8/6/2020 | -1.8% | 4.5% | 31.9% |
| SUMMARY STATS | |||
| # Positive | 11 | 14 | 13 |
| # Negative | 14 | 11 | 12 |
| Median Positive | 2.8% | 3.7% | 12.1% |
| Median Negative | -1.8% | -7.8% | -11.7% |
| Max Positive | 13.0% | 9.4% | 44.7% |
| Max Negative | -15.2% | -25.0% | -23.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/28/2026 | 10-Q |
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 10/28/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 04/29/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/28/2026 | 10-Q |
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 10/28/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 04/29/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 11/09/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 02/28/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
Insider Activity
Updated 9/16/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tomick, David P | Direct | Sell | 9162026 | 29.71 | 7,142 | 212,190 | 527,919 | Form | |
| 2 | Tomick, David P | Direct | Sell | 9162026 | 29.66 | 7,000 | 207,628 | 738,890 | Form | |
| 3 | Tomick, David P | Direct | Sell | 9142026 | 29.68 | 7,000 | 207,760 | 947,118 | Form | |
| 4 | Tomick, David P | Direct | Sell | 9142026 | 29.67 | 7,000 | 207,672 | 1,154,388 | Form | |
| 5 | Jones, Blackhurst Janis L | Direct | Sell | 8282026 | 29.63 | 33,899 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tomick, David P | Direct | Sell | 9162026 | 29.71 | 7,142 | 212,190 | 527,919 | Form | |
| 2 | Tomick, David P | Direct | Sell | 9162026 | 29.66 | 7,000 | 207,628 | 738,890 | Form | |
| 3 | Tomick, David P | Direct | Sell | 9142026 | 29.68 | 7,000 | 207,760 | 947,118 | Form | |
| 4 | Tomick, David P | Direct | Sell | 9142026 | 29.67 | 7,000 | 207,672 | 1,154,388 | Form | |
| 5 | Jones, Blackhurst Janis L | Direct | Sell | 8282026 | 29.63 | 33,899 | Form | |||
| 6 | Yunker, Bret | Chief Financial Officer | Direct | Sell | 8212026 | 29.62 | 208,134 | Form | ||
| 7 | Jones, Josh | Chief Marketing Officer | Direct | Sell | 8172026 | 29.72 | 59,507 | Form | ||
| 8 | Pegram, Michael E | AMT Investments LLC | Sell | 6122026 | 29.46 | 16,897 | Form | |||
| 9 | Pegram, Michael E | AMT Investments LLC | Sell | 6122026 | 29.47 | 24,800 | 730,973 | 498,034 | Form | |
| 10 | Pegram, Michael E | AMT Investments LLC | Sell | 6102026 | 29.41 | 50,000 | 1,470,460 | 1,226,275 | Form | |
| 11 | Pegram, Michael E | AMT Investments LLC | Sell | 6102026 | 29.31 | 36,027 | 1,055,850 | 2,687,382 | Form | |
| 12 | Quatmann, Edmund L JR | Chief Legal Officer | Direct | Sell | 6102026 | 29.35 | 81,566 | 2,393,823 | 535,988 | Form |
| 13 | Pegram, Michael E | Trust | Sell | 6102026 | 29.20 | 15,200 | Form | |||
| 14 | Pegram, Michael E | AMT Investments LLC | Sell | 6102026 | 29.36 | 13,973 | 410,240 | 3,749,913 | Form | |
| 15 | Pegram, Michael E | Trust | Buy | 6102026 | 42.27 | 2,700 | 114,129 | 642,504 | Form | |
| 16 | Pegram, Michael E | Trust | Buy | 6102026 | 42.80 | 2,500 | 107,000 | 535,000 | Form | |
| 17 | Pegram, Michael E | AMT Investments LLC | Sell | 6032026 | 29.20 | 50,000 | 1,460,080 | 4,137,779 | Form | |
| 18 | Pegram, Michael E | Pea Peg LLC I | Sell | 6032026 | 29.19 | 5,000 | Form | |||
| 19 | Biumi, Bonnie | Direct | Buy | 11032025 | 18.69 | 1,000 | 18,688 | 612,580 | Form |
Investor Activity (13F)
Updated Oct 2, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Arini Captial Management Ltd | $102.1 Mil | 16.1% | 6 | ADD +254.5% | 13F |
| Parsifal Capital Management, LP | $51.1 Mil | 6.6% | 17 | New | 13F |
| Quaker Capital Investments, LLC | $26.9 Mil | 6.6% | 21 | TRIM -10.8% | 13F |
| Redwood Capital Management, LLC | $11.1 Mil | 1.6% | 22 | Hold | 13F |
| Icahn Carl C | $64.5 Mil | 0.8% | 18 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| Long Pond Capital, LP | $34.6 Mil | 4.1% | 30 | Exited | Dec 31, 2025 | 13F |
| Philosophy Capital Management LLC | $25.7 Mil | 3.0% | 34 | Exited | Dec 31, 2025 | 13F |
| Diameter Capital Partners LP | $19.9 Mil | 2.1% | 36 | Exited | Dec 31, 2025 | 13F |
| Engine Capital Management, LP | $19.5 Mil | 2.7% | 28 | Exited | Dec 31, 2025 | 13F |
| Solel Partners LP | $16.2 Mil | 2.6% | 22 | Exited | Dec 31, 2025 | 13F |
| Carronade Capital Management, LP | $6.0 Mil | 0.6% | 25 | Exited | Dec 31, 2025 | 13F |
| Quaker Capital Investments, LLC | $26.9 Mil | 6.6% | 21 | TRIM -10.8% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Arini Captial Management Ltd | $102.1 Mil | 16.1% | 6 | ADD +254.5% | 13F |
| Icahn Carl C | $64.5 Mil | 0.8% | 18 | Hold | 13F |
| Parsifal Capital Management, LP | $51.1 Mil | 6.6% | 17 | New | 13F |
| Quaker Capital Investments, LLC | $26.9 Mil | 6.6% | 21 | TRIM -10.8% | 13F |
| Redwood Capital Management, LLC | $11.1 Mil | 1.6% | 22 | Hold | 13F |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Casinos & Gaming Resources |
| Casino.org News |
| Global Gaming Business |
| CDC Gaming Reports |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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