Caesars Entertainment Inc (NASDAQ:CZR) shares are continuing to climb amid its takeover chatter, including interest from billionaire Tilman Fertitta and early discussions about a possible management‑led buyout. Caesars Entertainment shares are consolidating. Where is CZR stock headed?Takeover Interest Fuels The MoveAccording to the Financial Times, Caesars is reviewing several potential offers, including one from Fertitta Entertainment, the owner of the Golden Nugget casino brand. The company is also explor ...

Skip to main content Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv February 26, 2026 · 8:50 PM UTCWorldcategory · · ago Purchase Licensing Rights Read Next Business Coca-Cola to invest $6 bln in Mexico, Sheinbaum says Las Vegas casino group Caesars weighs takeover interest, Financial Times reports February 26, 20268:54 PM UTCUpdated ago By Reuters Feb 26 (Reuters) - Caesars Entertainment (CZR.O), opens new tab is weighing takeover offers from several potentia ...

Core Insights - Caesars Entertainment is focusing on strengthening its balance sheet and enhancing digital profitability as it navigates a challenging market environment [1] - The company is under pressure due to high debt levels while trying to achieve consistent profitability in its digital betting operations [6] Financial Performance - As of February 17, 2026, Caesars reported a total revenue of $11.49 billion and a net income of -$502 million [3] - The share price was $18.95, reflecting a decline of 52.1% over the past year, significantly underperforming the S&P 500 by 64.25 percentage points [3] Business Overview - Caesars operates a diversified portfolio of casinos, hotels, and digital betting platforms, targeting both leisure and business travelers as well as gaming enthusiasts [4][5] - The company generates revenue primarily from gaming operations, hospitality services, food and beverage sales, and digital wagering platforms [5] Market Position and Strategy - The merger with Eldorado in 2020 expanded Caesars' national presence but also increased its debt burden, raising investor concerns about leverage reduction and stable earnings [8] - The company earns most of its revenue from regional casinos and Las Vegas Strip properties, with cash flow sensitive to consumer spending and interest rates [8] Future Outlook - Key metrics to monitor include the company's ability to reduce debt while maintaining profitability in regional casinos and its digital platform [9] - Trends in same-property gaming revenue, interest costs, and digital profitability will be critical for assessing the pace of recovery [9]

Group 1 - The casino operator exceeded expectations in Las Vegas, indicating strong performance despite concerns related to prediction markets and soft leisure travel [1] - The company reported robust revenue growth, showcasing resilience in the face of market uncertainties [1] - There is a positive outlook for the company's future performance, driven by strategic initiatives and market positioning [1] Group 2 - The operator's ability to push back against fears suggests confidence in its operational strategies and market demand [1] - The company is adapting to changing consumer behaviors and preferences, which may enhance its competitive edge [1] - Overall, the casino industry is showing signs of recovery and growth, reflecting broader trends in leisure and entertainment sectors [1]

分组1 - Caesars Entertainment reported a quarterly loss of $0.33 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.18, and a decline from earnings of $0.05 per share a year ago, indicating an earnings surprise of -82.42% [1] - The company posted revenues of $2.92 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.59% and showing an increase from year-ago revenues of $2.8 billion [2] - Caesars Entertainment shares have declined approximately 22.5% since the beginning of the year, contrasting with the S&P 500's slight decline of 0.1% [3] 分组2 - The earnings outlook for Caesars Entertainment is uncertain, with current consensus EPS estimates at -$0.12 for the coming quarter and $0.04 for the current fiscal year, alongside revenues of $2.86 billion and $11.73 billion respectively [7] - The Zacks Industry Rank places Leisure and Recreation Services in the bottom 23% of over 250 Zacks industries, suggesting that the industry's outlook could significantly impact stock performance [8] - The estimate revisions trend for Caesars Entertainment was unfavorable prior to the earnings release, resulting in a Zacks Rank 5 (Strong Sell), indicating expected underperformance in the near future [6]

Financial Data and Key Metrics Changes - Caesars Entertainment reported full-year same-store enterprise net revenues increased by $266 million or 2% year-over-year [5] - Fourth quarter consolidated net revenues reached $2.9 billion, up 4% year-over-year, with adjusted EBITDA of $901 million, also up 2% year-over-year [5][6] - Digital segment achieved an all-time quarterly EBITDA record of $85 million despite poor volume in October [6] Business Line Data and Key Metrics Changes - Las Vegas segment reported same-store adjusted EBITDA of $447 million, down from $477 million last year, with occupancy at 92% compared to 96.5% last year [7] - Regional revenues increased by 4% year-over-year, driven by strong performance in Danville and New Orleans, although regional EBITDA declined slightly due to adverse weather conditions [7][10] - Digital segment net revenue for Q4 was $419 million, with adjusted EBITDA of $85 million, and full-year net revenues reached $1.4 billion, up 21% year-over-year [12][13] Market Data and Key Metrics Changes - Las Vegas occupancy improved sequentially, with a strong event calendar contributing to performance, including a record F1 event and a strong New Year's Eve [8][9] - Regional segment expected to benefit from a strong group mix in Reno and the transition of Windsor from managed to owned property [10] Company Strategy and Development Direction - The company is focused on reinvesting in its assets, with several upcoming CapEx projects in Las Vegas aimed at enhancing customer experiences [9] - The digital segment is expected to continue driving top-line growth, with a target of 20% growth and 50% flow-through to EBITDA [15][21] - The company is exploring opportunities in new markets, particularly in Virginia and Maine, while remaining cautious about skill games [34][77] Management's Comments on Operating Environment and Future Outlook - Management noted that leisure travel remains soft but is stabilizing, with expectations for group business to offset leisure softness in the near term [17][70] - The company anticipates a strong year ahead, particularly in the second half, driven by various events and renovations [19][72] - Management expressed optimism about the impact of tax refunds on consumer spending in 2026 [56][58] Other Important Information - The company is reducing debt while executing opportunistic share repurchases, with expectations of decreasing CapEx and interest expenses in 2026 [16] - Management highlighted the importance of Caesars Rewards as a competitive advantage in regional markets [64] Q&A Session Summary Question: Update on Las Vegas leisure customer trends - Management indicated that leisure travel is experiencing normal economic cycle activity, with group business helping fill gaps [28][30] Question: Expectations for iGaming legalization in Maine and Virginia - Management expressed optimism about Maine's potential launch and noted positive developments in Virginia's legislative process [32][34] Question: Insights on regional gaming pressures - Management acknowledged competitive pressures but emphasized the strength of Caesars Rewards as a differentiator [62][64] Question: Balancing debt reduction and buybacks with free cash flow - Management plans to be more active in share repurchases in the second quarter, balancing between debt reduction and buybacks [52] Question: Impact of tax refunds on consumer spending - Management believes tax refunds will provide a tailwind for consumer discretionary spending in 2026 [56][58] Question: Digital business performance and customer acquisition - Management reported improved retention and lower customer acquisition costs, contributing to growth in monthly active users [85]

Financial Data and Key Metrics Changes - For the full year 2025, same-store enterprise net revenues increased by $266 million or 2% year-over-year [5] - Fourth quarter consolidated net revenues reached $2.9 billion, up 4% year-over-year, with adjusted EBITDA of $901 million, up 2% year-over-year [6] - Digital segment achieved an all-time quarterly EBITDA record of $85 million in Q4 despite poor volume in October [6] Business Line Data and Key Metrics Changes - Las Vegas segment reported same-store adjusted EBITDA of $447 million, down from $477 million last year, with occupancy at 92% compared to 96.5% last year [7] - Regional revenues increased by 4% year-over-year, driven by strong performance in Danville and New Orleans, although regional EBITDA declined slightly due to poor winter weather [7][10] - Digital segment net revenue for Q4 was $419 million, with adjusted EBITDA of $85 million, and full-year net revenues reached $1.4 billion, up 21% year-over-year [12][13] Market Data and Key Metrics Changes - Las Vegas occupancy improved sequentially, with a strong event calendar contributing to performance, including a record F1 event and a strong New Year's Eve [8] - Regional segment expected to benefit from a strong group mix in Reno and the transition of Windsor from a managed to an owned property [10] - Digital segment saw a 19% increase in total monthly unique players, reaching 585,000 [13] Company Strategy and Development Direction - The company is focused on reinvesting in its assets to enhance customer experiences, with several upcoming CapEx projects in Las Vegas [9] - The strategy includes refining marketing approaches to deliver strong returns on investments, particularly in the regional segment [10] - The company aims to maintain a strong digital growth trajectory, targeting 20% top-line growth with 50% flow-through to EBITDA [21] Management's Comments on Operating Environment and Future Outlook - Management noted that leisure travel remains soft but is stabilizing, with expectations for group business to offset leisure softness in the near term [17] - The company anticipates continued improvement in Las Vegas driven by stabilizing leisure trends and a strong group and convention calendar [19] - Management expressed optimism about the potential for tax refunds to act as a tailwind for consumer discretionary spending in 2026 [58] Other Important Information - The company is reducing debt while executing opportunistic share repurchases, expecting to generate significant free cash flow in 2026 [16][25] - Management indicated that fixed marketing expenses will significantly decrease in 2026 and 2027, which should positively impact EBITDA [21] Q&A Session Summary Question: Insights on Las Vegas leisure customer trends - Management indicated that the leisure customer remains soft but is expected to recover as group business improves, with no crisis in Las Vegas [28][30] Question: Expectations on iGaming legalization in Maine and Virginia - Management expressed optimism about Maine's potential launch and noted positive developments in Virginia's legislative process [32][34] Question: Thoughts on capital investments in Las Vegas - Management highlighted ongoing renovations and improvements, expecting these to enhance performance during peak events [39][41] Question: Balancing debt reduction and buybacks with free cash flow - Management plans to balance debt reduction and share repurchases based on cash flow generation, with more activity expected in the second quarter [52] Question: Drivers of other revenue line item growth - Management will provide further details on the drivers of the other revenue line item in a follow-up [53] Question: Impact of tax refunds on consumer spending - Management believes tax refunds will provide a tailwind for consumer discretionary spending in 2026 [58] Question: Digital business valuation and potential spin-off - Management indicated that current market conditions do not favor a separation transaction, focusing instead on scaling the business [89]

Financial Data and Key Metrics Changes - Caesars Entertainment reported full-year same-store enterprise net revenues increased by $266 million or 2% year-over-year, with fourth quarter consolidated net revenues of $2.9 billion, up 4% year-over-year, and adjusted EBITDA of $901 million, up 2% year-over-year [4][5] - The digital segment achieved an all-time quarterly EBITDA record of $85 million in Q4, contributing to full-year net revenues of $1.4 billion, up 21% year-over-year, and EBITDA of $236 million, up 100% year-over-year [4][12] Business Line Data and Key Metrics Changes - The Las Vegas segment reported same-store adjusted EBITDA of $447 million, down from $477 million the previous year, with occupancy at 92% compared to 96.5% last year and an ADR decrease of 5% [5][6] - The regional segment's revenues increased by 4% year-over-year, driven by strong performance in Danville and New Orleans, although regional EBITDA declined slightly due to adverse weather conditions [5][8] Market Data and Key Metrics Changes - The digital segment saw a 4% growth in mobile sports handle and a 28% net revenue growth in iCasino, driven by increased volume and average monthly active users [11][12] - Total monthly unique players increased by 19% to 585,000 in Q4, indicating strong customer engagement [12] Company Strategy and Development Direction - Caesars is focused on reinvesting in its assets, with several upcoming CapEx projects in Las Vegas aimed at enhancing customer experiences, including renovations and new attractions [6][8] - The company aims to refine its marketing approach to deliver strong returns on investments, particularly in the regional segment [9] Management's Comments on Operating Environment and Future Outlook - Management noted that leisure travel remains soft but is expected to stabilize, with group business helping to fill occupancy gaps [15][16] - The outlook for 2026 includes expectations of strong group mix benefits and continued improvements in Las Vegas and regional segments [9][19] Other Important Information - Caesars is optimistic about the potential legalization of iGaming in states like Maine and Virginia, which could provide significant revenue opportunities [30][76] - The company is also exploring the use of AI to enhance profitability and customer engagement across its operations [90] Q&A Session Summary Question: Insights on Las Vegas leisure customer trends - Management indicated that leisure travel is experiencing normal economic cycle activity, with strong event weekends helping to offset softness [25][26] Question: Expectations for iGaming legalization in Maine and Virginia - Management expressed optimism about Maine's potential launch and noted positive developments in Virginia's legislative process [30][31] Question: Balancing debt reduction and share buybacks - Management plans to balance free cash flow generation between debt reduction and share repurchases, with more activity expected in the second quarter [51][52] Question: Drivers of other revenue line item in Las Vegas - Management will provide further details on the drivers of the other revenue line item in a follow-up [53] Question: Impact of tax refunds on consumer spending - Management believes tax refunds could serve as a tailwind for consumer discretionary spending in 2026 [56] Question: Digital business performance and customer acquisition - Management noted improvements in customer retention and acquisition costs, contributing to growth in monthly active users [84][102]

Caesars Entertainment Investor Presentation February 17, 2026 Forward Looking Statements Certain information in this presentation constitutes forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts and by the use of words such as "will," "may," "expect," "project," "positioned," or the negative or other variations thereof or comparable terminology. In ...

Core Insights - Caesars Entertainment reported a quarterly loss of $0.33 per share, which was worse than the analyst estimate of a loss of $0.17 per share [1] - The company's quarterly revenue reached $2.92 billion, exceeding the Street estimate of $2.89 billion and showing an increase from $2.8 billion in the same period last year [1] Financial Performance - Same-store adjusted EBITDA was $901 million, compared to $882 million for the same period last year [2] - Caesars Digital achieved a record adjusted EBITDA of $85 million, up from $20 million in the comparable prior-year period [2] - The CEO noted that the growth in consolidated same-store adjusted EBITDA was driven by Caesars Digital, stable results in the Regional segment, and improved operating trends in Las Vegas [2] Stock Performance - Caesars' stock price increased by 3.75% to $19.66 in extended trading [3]