Caesars Entertainment (CZR)

• Market cap: $7.87B
• 1 day: -5.00%
• 5 days: -9.75%
• 1 month: -17.71%
• 3 months: -0.54%
• 6 months: 2.12%
• Year to date: -22.48%
• 1 year: -20.36%
• 5 years: -28.85%
• 10 years: 769.48%
• Sector: Consumer Discretionary
• Industry: Hotels & Motels

About: Caesars Entertainment includes about 50 domestic gaming properties across Las Vegas (49% of 2023 EBITDAR before corporate expenses) and regional (48%) markets. Additionally, the company hosts managed properties and digital assets, the later of which produced marginal EBITDA in 2023. Caesars' US presence roughly doubled with the 2020 acquisition by Eldorado, which built its first casino in Reno, Nevada, in 1973 and expanded its presence through prior acquisitions to over 20 properties before merging with legacy Caesars. Caesars' brands include Caesars, Harrah's, Tropicana, Bally's, Isle, and Flamingo. Also, the company owns the US portion of William Hill (it sold the international operation in 2022), a digital sports betting platform.

Employees: 51,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

76% more call options, than puts

Call options by funds: $554M | Put options by funds: $315M

12% more funds holding in top 10

Funds holding in top 10: 25 [Q2] → 28 (+3) [Q3]

0% less capital invested

Capital invested by funds: $9.15B [Q2] → $9.12B (-$30.8M) [Q3]

1% less funds holding

Funds holding: 488 [Q2] → 485 (-3) [Q3]

3% less first-time investments, than exits

New positions opened: 84 | Existing positions closed: 87

5% less repeat investments, than reductions

Existing positions increased: 168 | Existing positions reduced: 177

5.44% less ownership

Funds ownership: 106.38% [Q2] → 100.94% (-5.44%) [Q3]

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $40 8% upside
• Avg. target: $54 46% upside
• High target: $59 59% upside

11 analyst ratings

• positive: 9 82%
• neutral: 2 18%
• negative: 0 0%

Macquarie Chad Beynon 74% 1-year accuracy 28 / 38 met price target	35% upside $50	Outperform Maintained	30 Oct 2024
JP Morgan Joseph Greff 33% 1-year accuracy 7 / 21 met price target	57% upside $58	Overweight Maintained	30 Oct 2024
Wells Fargo Daniel Politzer 62% 1-year accuracy 33 / 53 met price target	43% upside $53	Overweight Maintained	30 Oct 2024
Barclays Brandt Montour 60% 1-year accuracy 44 / 73 met price target	54% upside $57	Overweight Maintained	30 Oct 2024
Morgan Stanley Stephen Grambling 52% 1-year accuracy 11 / 21 met price target	13% upside $42	Equal-Weight Maintained	22 Oct 2024