Feed / CZR

Caesars Entertainment, Inc.

CZR

Consumer Cyclical · 29.67 +0.0% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:00 GMT-4

Market read

Caesars Entertainment, Inc.'s current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.

What changed
  • Revenue increased 2.7% versus the comparable filing period.
  • Cash declined 17.0M versus the comparable period.
Company+0.0% todayVolume comparison unavailable
Market group0 of 1 activeResorts & Casinos · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • Adjusted EBITDA margin remained flat despite higher net revenues, with the filing attributing the result primarily to increased labor costs and gaming taxes.

Invalidation: The isolated read changes if CZR's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Consumer Cyclical · Resorts & Casinos

The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.

Evidence that supports
  • Revenue increased 2.7% versus the comparable filing period.
Evidence that challenges
  • Cash declined 17.0M versus the comparable period.
What would clarify the read
  • Adjusted EBITDA margin remained flat despite higher net revenues, with the filing attributing the result primarily to increased labor costs and gaming taxes.

Company research

Understand the business, not just the ticker

As of Sep 10, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations326
Usable filing statements119
Verified relationships7
Evidence supporting the case

No qualifying supportive evidence was identified.

Evidence challenging the case
  • Operating margin changed -4.3 percentage points in the latest annual period.
  • Net margin changed -1.9 percentage points in the latest annual period.
  • Credit and interest rates has repeated adverse evidence across 5 filings.
  • Restructuring and cost reductions has repeated adverse evidence across 5 filings.
Questions before a position
  • EV/sales is 23% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 9, 2026

29.67
6m+14.1%12m+12.5%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$9.6B+163.8%$-4.83
2022-12-31$10.8B+13.1%$-4.19+1.4%
2023-12-31$11.5B+6.5%$3.64+0.9%
2024-12-31$11.2B-2.5%$-1.29-0.5%
2025-12-31$11.5B+2.1%$-2.42-3.3%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 5 filings
Adjusted EBITDA represents, as applicable, net income (loss) before interest income and interest expense net of interest capitalized, (benefit) provision for income taxes, depreciation and amortization, stock-based compensation expense, (gain) loss on extingu…
10-Q · Jul 28, 2026
Input and raw-material costsmixed · 5 filings
Adjusted EBITDA margin remained relatively flat for the three and six months ended June 30, 2026, despite the increased net revenues primarily due to increased labor costs and gaming taxes.
10-Q · Jul 28, 2026
Labor availability and costsmixed · 5 filings
Adjusted EBITDA margin remained relatively flat for the three and six months ended June 30, 2026, despite the increased net revenues primarily due to increased labor costs and gaming taxes.
10-Q · Jul 28, 2026
Restructuring and cost reductionsnegative · 5 filings
Adjusted EBITDA represents, as applicable, net income (loss) before interest income and interest expense net of interest capitalized, (benefit) provision for income taxes, depreciation and amortization, stock-based compensation expense, (gain) loss on extingu…
10-Q · Jul 28, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 0.5× · EV/sales 1.5×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

29.67+0.0% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:00 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for CZR. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

The latest filing shows material pressure

10-Q filed 2026-04-28 against the comparable filing from 2025-04-29.

cautious
OperationsmixedEvidence score +1
liquiditycautiousEvidence score -1
valuationdiscount

What improved

  • Revenue increased 2.7% versus the comparable filing period.

What weakened

  • Cash declined 17.0M versus the comparable period.

Filing receipts

Other income (expenses) Other income (expenses) were as follows: Three Months Ended March 31, Percent Change (Dollars in millions) 2026 2025 Variance Interest expense, net $ (569) $ (574) $ 5 0.9 % Other loss (2) (1) (1) (100.0) % Provision for income taxes (12) (11) (1) (9.1) % Interest expense, net decreased for the three months ended March 31, 2026, as compared to the same prior year period, primarily due to a reduction in outstanding debt and lower variable rate interest expense.

Net income (loss), Adjusted EBITDA and Adjusted EBITDA margin declined slightly for the three months ended March 31, 2026, as compared to the same prior year period, primarily due to increased labor costs and gaming taxes.

% Provision for income taxes (12) (11) (1) (9.1) % Interest expense, net decreased for the three months ended March 31, 2026, as compared to the same prior year period, primarily due to a reduction in outstanding debt and lower variable rate interest expense.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind CZR

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

VICIVICI Properties Inc.distributorApr 28, 2026

We lease 18 casinos from VICI Properties L.P., a Delaware limited partnership (“VICI”), pursuant to a regional lease, a Las Vegas lease and a Joliet lease (the “VICI Leases”).

VICIVICI Properties Inc.partnerFeb 17, 2026

We lease certain real property assets from third parties, including GLP Capital, L.P., the operating partnership of Gaming and Leisure Properties, Inc.

Depended on by

GLPIGaming and Leisure Properties, Inc.partnerApr 23, 2026

37 Master Leases Boyd Master Lease Caesars Amended and Restated Master Lease Operator Boyd Caesars Properties Belterra Casino Resort Florence, IN Tropicana Atlantic City Atlantic City, NJ Ameristar Kansas City Kansas City, MO Tropicana Laughlin Laughlin, NV A…

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 8 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

CZR is currently a Leader in the organic co-movement group Resorts & Casinos. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for CZR; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.