Caesars Entertainment (CZR)

• Market cap: $7.23B
• 1 day: 2.19%
• 5 days: 9.77%
• 1 month: -5.76%
• 3 months: -25.25%
• 6 months: -11.56%
• Year to date: 4.48%
• 1 year: -22.95%
• 5 years: -44.49%
• 10 years: 714.59%
• 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)

80% more call options, than puts

Call options by funds: $586M | Put options by funds: $325M

15% more first-time investments, than exits

New positions opened: 86 | Existing positions closed: 75

12% more funds holding in top 10

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

1% more funds holding

Funds holding: 488 [Q2] → 493 (+5) [Q3]

1% less capital invested

Capital invested by funds: $9.3B [Q2] → $9.2B (-$95.5M) [Q3]

4% less repeat investments, than reductions

Existing positions increased: 171 | Existing positions reduced: 179

6.24% less ownership

Funds ownership: 108.1% [Q2] → 101.86% (-6.24%) [Q3]

Research analyst outlook

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

• Low target: $42 23% upside
• Avg. target: $51 49% upside
• High target: $57 67% upside

9 analyst ratings

• positive: 8 89%
• neutral: 1 11%
• negative: 0 0%

JMP Securities Aaron Hecht 54% 1-year accuracy 27 / 50 met price target	56% upside $53	Market Outperform Maintained	16 Jan 2025
Truist Securities Barry Jonas 61% 1-year accuracy 22 / 36 met price target	41% upside $48	Buy Maintained	14 Jan 2025
JP Morgan Joseph Greff 28% 1-year accuracy 8 / 29 met price target	67% upside $57	Overweight Maintained	3 Jan 2025
Jefferies David Katz 50% 1-year accuracy 11 / 22 met price target	26% upside $43	Buy Maintained	3 Jan 2025
Barclays Brandt Montour 45% 1-year accuracy 37 / 83 met price target	62% upside $55	Overweight Maintained	13 Dec 2024