Caesars Entertainment, Inc. is a gaming and hospitality company that owns, leases, brands, or manages domestic properties in 18 states. These properties feature slot machines, video lottery terminals, electronic table games, hotel rooms, and table games including poker. The company also operates online gaming, retail and online sports wagering across 42 jurisdictions in North America, and iGaming in five North American jurisdictions. In addition, it runs casinos, dining venues, bars, nightclubs, lounges, hotels, and entertainment venues, provides staffing and management services, and operates as a real estate leasing company that constructs and develops the Grand Bazaar. Founded in 1937, Caesars is based in Reno, Nevada.
Caesars Shareholders Approve Fertitta's $31-Per-Share Buyout as FTC Review Extends
Caesars Entertainment shareholders voted decisively to approve Tilman Fertitta's $31-per-share cash buyout, with 65.4% of outstanding shares in favor on September 22, 2026, even as the Federal Trade Commission issued a standard second request for more information that can extend the regulatory timeline. Fertitta intends to make Caesars a wholly owned subsidiary once regulators sign off, keeping CEO Tom Reeg and the existing leadership team in place, and would combine more than 50 properties into a broader gaming and hospitality portfolio. The FTC requested more information rather than suing to block the transaction, and both companies said they would cooperate, though the second request can delay closing by months while the $31-per-share agreement remains in place. Fertitta is assuming nearly $12 billion in debt as part of the deal, and because he already controls the Golden Nugget casino chain and other hospitality assets, the FTC can examine overlap in specific gaming and regional markets, with possible demands for asset sales. Caesars' hedge fund count rose to 64 in the second quarter of 2026 from 56 in the first, with position value climbing to $1.66 billion from $913.2 million, while MGM Resorts saw holders increase to 63 from 57, with position value rising to $1.38 billion from $1.21 billion.
CZR · Capital · Positive Shareholders approved Fertitta's $31-per-share cash buyout, a valuation/M&A event for Caesars.
CZR · Regulation · Neutral FTC issued a second request for more information, potentially delaying the deal closing by months.
Golden Nugget · Regulation · Neutral Fertitta's existing Golden Nugget chain creates gaming-market overlap the FTC may examine, with possible asset sales.
Caesars Shareholders Approve Fertitta Gaming Merger, Putting DraftKings in Focus
Caesars Entertainment shareholders approved a multibillion dollar merger with Fertitta Gaming at a special meeting held ahead of the transaction's completion. Tilman Fertitta, who controls Fertitta Gaming and drove the Caesars deal, is also the largest shareholder in DraftKings. The approval is only part of the full picture for DraftKings, according to the analysis, which points to three other big wins for the company. The link keeps DraftKings close to one of the largest gaming empires by scale, which may shape future marketing partnerships, cross promotion and customer funnel sharing across retail casinos and online betting. Investors are watching DraftKings' upcoming conference appearances and its first quarterly results after the Caesars and Fertitta transaction closes for signs of co-branded promotions or higher cross-sell between casino and online channels.
CZR · Capital · Positive Caesars shareholders approved the multibillion-dollar merger with Fertitta Gaming, a financial/M&A event.
DKNG · Demand · Positive Fertitta's control of Caesars keeps DraftKings linked to a large gaming empire, potentially enabling marketing partnerships, cross-promotion and customer funnel sharing.
Caesars and Fertitta Entertainment receive FTC second request on merger
Caesars Entertainment and Fertitta Entertainment each received a request for additional information from the Federal Trade Commission about their transaction. The companies received the second request on Monday, according to an 8-K filing on Thursday, and Caesars and Fertitta Entertainment intend to continue to work cooperatively with the FTC in its review of the merger. Caesars also announced that Jesse Lynn and Ted Papapostolou will exit Caesars' board effective immediately, with Icahn Group waiving its right to name replacement directors. Caesars holders are scheduled to vote on the deal on Tuesday. Shares of Caesars ticked down by 0.08% on Thursday.
CZR · Regulation · Negative FTC issued a second request for additional information, prolonging regulatory review of the Caesars-Fertitta merger
Fertitta Entertainment · Regulation · Negative Fertitta Entertainment received an FTC second request for additional information on its merger with Caesars
Caesars Entertainment Faces Liability Verdict Over Guest Safety
Caesars Entertainment has been found liable in a lawsuit over alleged systemic security failures at the LINQ Promenade, following a severe assault that left a guest with life-altering injuries. The verdict raises concerns about security management across Caesars properties, potentially prompting reassessments of protocols, staffing, and monitoring, which could lead to extra operating costs and legal or insurance expenses, though specific amounts are undisclosed. Investors are weighing reputational effects and possible changes to operating procedures and regulatory scrutiny, alongside existing pressures from labor costs and property upgrades. The next key development to watch is how Caesars addresses security oversight in upcoming disclosures, including any quantified spending commitments or new regulatory conditions, with the next results release due on July 28, 2026.
Caesars Entertainment posts Q2 loss of $0.30 per share, revenue beats estimates
Caesars Entertainment reported a second-quarter loss of $0.30 per share, missing the Zacks Consensus Estimate of $0.04 and marking an earnings surprise of negative 850 percent. Revenue came in at $2.99 billion, topping the consensus by 1.09 percent and up from $2.91 billion a year earlier. The company has now missed EPS estimates for four straight quarters but has beaten revenue estimates three times over that span. Shares have gained about 28.1 percent year to date, outpacing the S&P 500's 8.3 percent advance. The current Zacks Rank for the stock is 2, or Buy, with consensus estimates for the coming quarter at a loss of $0.04 per share on $2.98 billion in revenue.
Resorts World breaks ground on Queens casino expansion as rivals face delays
Resorts World New York City has broken ground on phase two of its multibillion-dollar expansion at Aqueduct in Queens, adding a 400-room hotel tower and a concert arena as part of a broader $5.5 billion integrated resort plan. The Genting Group-operated property is currently the only full-scale casino in New York City, giving it a multi-year head start over competitors. The New York State Gaming Commission approved three other locations in December, including a Bally's site in the Bronx and a casino near Citi Field backed by Mets owner Steve Cohen, but those ground-up projects are not expected to open until 2030. Wynn Resorts and MGM Resorts both withdrew from the New York City casino license bidding process, while Caesars Entertainment's Times Square project was voted down last September.
Caesars Entertainment to Report Q2 Earnings After Market Close Tuesday
Caesars Entertainment will report its second-quarter earnings after the market closes on Tuesday. The company beat revenue expectations last quarter with $2.87 billion, up 2.7% year on year, but missed analysts' EPS and EBITDA estimates. For this quarter, the market expects revenue growth of 2.3% year on year, in line with the 2.7% increase recorded in the same quarter last year. Analysts have generally reconfirmed their estimates over the last 30 days, though Caesars has missed Wall Street revenue estimates multiple times over the last two years. Peers Monarch and Boyd Gaming have already reported Q2 results, with Monarch posting 4.2% revenue growth that missed expectations by 0.7% and Boyd Gaming reporting flat revenue in line with consensus. Caesars Entertainment's stock price was unchanged over the last month, heading into earnings with an average analyst price target of $31.27 compared to the current share price of $29.80.
Longleaf Partners Fund Highlights MGM Resorts International in Q2 2026 Investor Letter
Longleaf Partners Fund highlighted MGM Resorts International as a positive contributor in its second-quarter 2026 investor letter. The fund noted that People Inc., formerly IAC Inc., announced a bid for control of MGM, which drove MGM's share price to the offer level. MGM also reported a quarter where Las Vegas revenues grew for the first time in almost two years, supported by a strong convention calendar. Additionally, Caesars' announcement that it was going private could be another positive for MGM on multiple levels. The fund believes the People Inc. bid could be a good way to grow and realize value per share at both companies, though details will matter.
MGM · Capital · Positive People Inc. announced a bid for control of MGM, driving MGM's share price to the offer level.
MGM · Demand · Positive MGM reported Las Vegas revenues growing for the first time in almost two years, supported by a strong convention calendar.
PPLI · Capital · Positive People Inc. announced a bid for control of MGM, driving MGM's share price to the offer level.
CZR · Capital · Positive Caesars' going-private announcement could be positive for MGM, but Caesars itself is mentioned only as a catalyst for MGM, not as a subject of its own news.
Zacks names Amtech Systems Bull of the Day and Caesars Entertainment Bear of the Day
Zacks Equity Research has named Amtech Systems as the Bull of the Day and Caesars Entertainment as the Bear of the Day. Amtech, a small-cap semiconductor equipment company, saw revenue jump 31% year over year to $20.5 million in its fiscal second quarter of 2026, driven by AI-related products, with gross margins expanding to nearly 47%. Analysts have raised earnings estimates, pushing the Zacks Consensus Estimate to 32 cents per share for the current year and 80 cents for next year, earning the stock a Zacks Rank of 1, or Strong Buy. Caesars Entertainment carries a Zacks Rank of 5, or Strong Sell, weighed down by approximately $11.9 billion in debt and roughly $2.3 billion in annual interest expense, which contributed to another quarterly loss in the first quarter of 2026 and six consecutive quarters of missed earnings expectations. The research also provided analysis on NIKE, lululemon athletica, and adidas, noting NIKE's wholesale revenue grew 4% to $6.6 billion in its fiscal fourth quarter of 2026, though the stock carries a Zacks Rank of 5.
Six Flags Entertainment Is a Better Buy Than Caesars Entertainment in 2026
Six Flags Entertainment is the better leisure stock to buy in 2026 compared to Caesars Entertainment, according to a Motley Fool analysis. Caesars is set to be acquired by Fertitta Entertainment for $31 per share in cash, but with the stock trading around $30 as of July 6, the deal offers limited upside. Six Flags, trading well below its 52-week high of $33.50, is seen as a more attractive investment despite challenges including a $1.6 billion net loss in fiscal 2025 and a debt-to-equity ratio of 9.8 times. The company reported 12% year-over-year revenue growth in the first quarter to $225.6 million, helped by the Cedar Fair merger, though it posted a net loss of $268.6 million. Caesars generated $11.5 billion in revenue in fiscal 2025 but also recorded a net loss of $502 million and carries a debt-to-equity ratio of 7.5 times.
CZR · Capital · Negative Acquisition offer at $31 per share offers limited upside from current ~$30, and Caesars reported a net loss of $502 million with high debt.
FUN · Capital · Positive Analyst sees Six Flags as a better buy despite losses, citing 12% revenue growth and trading below 52-week high.
StockStory identifies Caesars Entertainment, Rush Street Interactive, and United Airlines as risky consumer stocks. Caesars Entertainment carries a high 7× net-debt-to-EBITDA ratio, increasing dilution risk, and trades at 98 times forward earnings. Rush Street Interactive’s substandard operating margins limit its responsiveness to market shifts, with shares at 47 times forward earnings. United Airlines lags peers in revenue passenger miles, has a below-industry 9.1% operating margin, and faces a projected 5.5 percentage point decline in free cash flow margin next year as it boosts investment.
Zacks Adds Caesars Entertainment, Cartesian Therapeutics, and Insperity to Strong Sell List
Zacks Investment Research added three stocks to its Zacks Rank #5 (Strong Sell) List today. Caesars Entertainment saw its current-year earnings consensus estimate revised 104.2% downward over the last 60 days. Cartesian Therapeutics had its estimate cut by 7%, while Insperity's estimate was revised 11.6% lower over the same period.
Penn Entertainment Stock Could Keep Rallying on Regional Strength, Digital Turnaround, and Consolidation
Penn Entertainment shares have surged 48.3% year to date, and multiple tailwinds could extend those gains in the second half of 2026. The company’s regional casino business is showing resilience despite inflation, supported by recent property enhancements including a new hotel tower at Hollywood Casino Columbus and the debut of the Hollywood Casino and Hotel in Aurora, Illinois, a former riverboat now on land. Penn’s interactive unit is improving, with losses expected to narrow from $268 million in 2025 to just $20 million this year, as the company focuses on iGaming under the Hollywood brand in a cost-effective four-state strategy. Industry consolidation is also a positive, as buyout offers for Caesars and MGM imply Penn is undervalued, and a potential reduction in publicly traded casino stocks could increase investor focus on Penn, while possible asset sales by Caesars may create acquisition opportunities for Penn.
PENN · Demand · Positive regional casino business showing resilience with property enhancements
PENN · Capital · Positive interactive unit losses narrowing, industry consolidation and potential asset sales create opportunities
CZR · Capital · Positive buyout offers for Caesars imply Penn is undervalued, and potential asset sales by Caesars may create acquisition opportunities for Penn
CZR · Competition · Positive Potential buyout offers for Caesars imply Penn is undervalued, and possible asset sales by Caesars may create acquisition opportunities for Penn.
MGM · Capital · Positive buyout offers for MGM imply Penn is undervalued
MGM · Competition · Positive Buyout offers for MGM imply Penn is undervalued, and industry consolidation could increase investor focus on Penn.
Hotel deal activity slows, with capital focusing on luxury, wellness
Hospitality and leisure M&A deal volume fell 2.5% in the first half of 2026 compared to the prior six months, but investors are concentrating on the upper end of the market, according to PwC's U.S. Deals 2026 midyear outlook. Upscale, upper upscale and luxury assets accounted for 73% of deals over the last six months, the highest concentration in two years, as buyers target segments with pricing power, repeat engagement and AI readiness. Luxury RevPAR is expected to rise 5.4% year over year in 2026, while upper upscale and upscale RevPAR is expected to increase by 2.1% and 2.7%, respectively. Two large casino transactions in late May and early June, including Fertitta Entertainment acquiring Caesars Entertainment and People Inc.'s plans to buy MGM Resorts, have boosted deal value, signaling an appetite for transformative M&A. The report also notes that buyers are paying premiums for assets with built-in wellness offerings, and that AI is reshaping deal structures, with operators lacking clean customer data seeing bids suppressed or withdrawn.
VICI Properties Faces Las Vegas Concentration Risk Despite Strong Lease Portfolio
VICI Properties holds a high-quality portfolio of experiential assets with long-term triple-net leases, but tenant and Las Vegas concentration remain key concerns. As of the first quarter of 2026, assets on the Las Vegas Strip accounted for nearly 49% of total lease revenues, while MGM and Caesars together contributed approximately 74% of lease revenues. The company owned 100 gaming and experiential properties with 100% occupancy following the Golden Entertainment transaction completed in April 2026, and its portfolio had a weighted average lease term of nearly 39.7 years. VICI had roughly $17.1 billion of debt and approximately $3.1 billion of available liquidity as of March 31, 2026. The Zacks Consensus Estimate for its 2026 funds from operations per share has been raised by a cent over the past two months to $2.46, and the stock carries a Zacks Rank #3 (Hold).
VICI · Demand · Negative VICI Properties is the subject; the article highlights its Las Vegas and tenant concentration risks, which are negative for its stability.
CZR · Demand · Negative Caesars is a major tenant (part of 74% concentration), and the article highlights tenant concentration risk, implying potential vulnerability if Caesars struggles.
MGM · Demand · Negative MGM is a major tenant (part of 74% concentration), and the article highlights tenant concentration risk, implying potential vulnerability if MGM struggles.
World Cup snaps OSB and prediction market apps out of seasonal lull, Apptopia reports
Apptopia released a new report on DraftKings Inc, Flutter Entertainment PLC, Caesars Entertainment Inc, MGM Resorts International, Kalshi, and the broader online sports betting and prediction markets. The report found that sports bettors are skewing younger and represent each app's fastest growing user segment. It also provides an in-depth look at the 2026 World Cup's impact on OSB and prediction market apps during what is normally a slow period, analyzing inflections in downloads, daily active users, and average sessions per daily active user. Using its U.S. consumer device panel, Apptopia determined what percentage of World Cup bettors are new and what percentage were once churned but re-engaged by the event.
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