Caesars Entertainment (CZR)

NASDAQConsumer DiscretionaryGambling, Resorts & CasinosSnapshot 2026-10-23

$28.80-0.93%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Caesars Entertainment’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

-55.2% · beyond scale

+10% or more+5%0%−5%−10% or less

0.22 → 0.10 EPS · FY ending Dec 31, 2027 · 7 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 7 to 7; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	3.02B
EPS	—	-0.038
Annual ending 2026-12-31
Revenue	—	11.84B
EPS	—	-0.961
Annual ending 2027-12-31
Revenue	—	12.12B
EPS	—	0.1

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Enhance cash flow from operations	The company aims to improve cash flow to support debt reduction.	Improving	Cash from operations falls below $200M next year	Cash from operations: $471M FY2026-Q2; GAAP. Published target: Cash from operations >= $250M next 4 quarters. Target period is not explicitly aligned with this observation. Source published Jul 28, 2026471,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Improve operating income through cost management	Operating income improved slightly to $500M in Q1 2026.	Intact	Operating income falls below $480M next quarter	Operating income: $513M FY2026-Q2; GAAP. Published target: Operating income >= $500M next quarter. Target period is not explicitly aligned with this observation. Source published Jul 28, 2026513,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 3a54f84f-fa88-44f2-917c-b59c04ad4880. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Modest revenue growth across segments	A primary condition in Caesars Entertainment's published investment case. The stated target is >=3% YoY revenue growth.	Improving	YoY revenue growth falls below 2% next year	Revenue growth: 2.96% FY2026-Q2; GAAP. Published target: >=3% YoY revenue growth. Target period is not explicitly aligned with this observation. Source published Jul 28, 20262.958376 percent · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 3a54f84f-fa88-44f2-917c-b59c04ad4880. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$0.10

$0.84 → $0.10 · observed estimates

FY2027 revenue$12.12B

$12.13B → $12.12B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$0.84	$12,134,143,890	5 / 17
2026-07-25	$0.84	$12,146,614,480	5 / 17
2026-07-26	$0.84	$12,146,614,480	5 / 17
2026-07-27	$0.84	$12,146,614,480	5 / 17
2026-07-28	$0.84	$12,146,614,480	5 / 17
2026-07-29	$0.84	$12,146,859,140	5 / 17
2026-07-30	$0.19	$12,146,260,528	7 / 13
2026-07-31	Unavailable	$12,166,398,430	3 / 17
2026-08-01	$0.19	$12,146,260,528	7 / 13
2026-08-02	$0.19	$12,146,260,528	7 / 13
2026-08-03	$0.19	$12,146,260,528	7 / 13
2026-08-04	$0.19	$12,146,260,528	7 / 13
2026-08-05	Unavailable	$12,164,200,520	3 / 17
2026-08-06	Unavailable	$12,164,200,520	3 / 17
2026-08-07	$0.16	$12,147,485,556	7 / 13
2026-08-08	Unavailable	$12,164,200,520	3 / 17
2026-08-09	Unavailable	$12,164,200,520	3 / 17
2026-08-10	$0.16	$12,147,485,556	7 / 13
2026-08-11	Unavailable	$12,164,200,520	3 / 17
2026-08-12	$0.16	$12,147,485,556	7 / 13
2026-08-13	$0.16	$12,147,485,556	7 / 13
2026-08-14	$0.16	$12,147,485,556	7 / 13
2026-08-15	$0.16	$12,147,485,556	7 / 13
2026-08-16	$0.16	$12,147,485,556	7 / 13
2026-08-17	$0.16	$12,147,485,556	7 / 13
2026-08-18	$0.16	$12,147,485,556	7 / 13
2026-08-19	$0.16	$12,147,485,556	7 / 13
2026-08-20	$0.22	$12,147,485,556	7 / 13
2026-08-21	$0.22	$12,147,485,556	7 / 13
2026-08-22	$0.22	$12,147,485,556	7 / 13
2026-08-23	$0.22	$12,147,485,556	7 / 13
2026-08-24	$0.22	$12,147,485,556	7 / 13
2026-08-25	$0.22	$12,147,485,556	7 / 13
2026-08-26	$0.22	$12,147,485,556	7 / 13
2026-08-27	$0.22	$12,147,485,556	7 / 13
2026-08-28	$0.22	$12,147,485,556	7 / 13
2026-08-29	$0.22	$12,147,485,556	7 / 13
2026-08-30	$0.22	$12,147,485,556	7 / 13
2026-08-31	$0.22	$12,147,485,556	7 / 13
2026-09-01	$0.22	$12,147,485,556	7 / 13
2026-09-02	$0.22	$12,148,993,853	7 / 13
2026-09-03	$0.22	$12,148,993,853	7 / 13
2026-09-04	$0.22	$12,148,993,853	7 / 13
2026-09-05	$0.22	$12,148,993,853	7 / 13
2026-09-06	$0.22	$12,148,993,853	7 / 13
2026-09-07	$0.22	$12,148,993,853	7 / 13
2026-09-08	$0.22	$12,148,993,853	7 / 13
2026-09-09	$0.22	$12,148,993,853	7 / 13
2026-09-10	$0.22	$12,148,993,853	7 / 13
2026-09-11	$0.22	$12,148,993,853	7 / 13
2026-09-12	$0.22	$12,148,993,853	7 / 13
2026-09-13	$0.22	$12,148,993,853	7 / 13
2026-09-14	$0.22	$12,148,993,853	7 / 13
2026-09-15	$0.22	$12,148,993,853	7 / 13
2026-09-16	$0.22	$12,148,993,853	7 / 13
2026-09-17	$0.22	$12,148,993,853	7 / 13
2026-09-18	$0.22	$12,148,993,853	7 / 13
2026-09-19	$0.22	$12,148,993,853	7 / 13
2026-09-20	$0.22	$12,148,993,853	7 / 13
2026-09-21	$0.22	$12,148,993,853	7 / 13
2026-09-22	$0.22	$12,151,306,353	7 / 13
2026-09-23	$0.22	$12,151,306,353	7 / 13
2026-09-24	$0.22	$12,151,306,353	7 / 13
2026-09-25	$0.22	$12,151,306,353	7 / 13
2026-09-26	$0.22	$12,151,306,353	7 / 13
2026-09-27	$0.22	$12,151,306,353	7 / 13
2026-09-28	$0.22	$12,151,306,353	7 / 13
2026-09-29	$0.22	$12,151,306,353	7 / 13
2026-09-30	$0.22	$12,151,306,353	7 / 13
2026-10-01	$0.22	$12,151,306,353	7 / 13
2026-10-02	$0.22	$12,151,306,353	7 / 13
2026-10-03	$0.22	$12,151,306,353	7 / 13
2026-10-04	$0.22	$12,151,306,353	7 / 13
2026-10-05	$0.22	$12,151,306,353	7 / 13
2026-10-06	$0.22	$12,151,306,353	7 / 13
2026-10-07	$0.22	$12,151,306,353	7 / 13
2026-10-08	$0.18	$12,141,737,853	7 / 13
2026-10-09	$0.18	$12,141,737,853	7 / 13
2026-10-10	$0.18	$12,141,737,853	7 / 13
2026-10-11	$0.18	$12,141,737,853	7 / 13
2026-10-12	$0.18	$12,141,737,853	7 / 13
2026-10-13	$0.17	$12,133,277,601	7 / 13
2026-10-14	$0.14	$12,131,237,538	7 / 13
2026-10-15	$0.14	$12,131,237,538	7 / 13
2026-10-16	$0.14	$12,131,237,538	7 / 13
2026-10-17	$0.14	$12,131,237,538	7 / 13
2026-10-18	$0.14	$12,131,237,538	7 / 13
2026-10-19	$0.14	$12,131,237,538	7 / 13
2026-10-20	$0.14	$12,131,237,538	7 / 13
2026-10-21	$0.10	$12,124,469,952	7 / 13
2026-10-22	$0.10	$12,124,469,952	7 / 13
2026-10-23	$0.10	$12,119,871,455	7 / 13
2026-10-24	$0.10	$12,119,871,455	7 / 13

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	13	9
2026-06-01	7	11
2026-07-01	5	14
2026-08-01	1	14
2026-09-01	1	14
2026-10-01	1	14

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 1 Buy / Strong Buy · 14 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Enhance cash flow from operationsCash from operations: $471M
Improve operating income through cost managementOperating income: $513M
Modest revenue growth across segmentsRevenue growth: 2.96%

Next proof point

Oct 27, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

0.2%Typical daily move · historical

Downside history

-28.4%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Caesars Entertainment outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a recovery and execution-dependent business, not a proven earnings compounder today. The multi-year view is intact, with digital growth providing support but brick-and-mortar trends and cash flow delivery still mixed.

What's priced into Caesars Entertainment

The evidence labels CZR cheap versus peers, while also showing a 0.67 peer premium and a negative expectations gap of 0.28. The valuation model has low confidence, so the cheap-versus-peers reading is uncertain; the available evidence does not specify exactly what earnings assumptions the market has priced in.

What the fundamentals likely do

Near term, earnings risk is elevated: the snapshot reports consecutive recent misses and a 0.74 estimated chance of a next-quarter miss. Over the multi-year view, Caesars Digital has grown its adjusted operating earnings since late 2024, but its latest two quarters were below the prior quarter; Regional revenue grew while Las Vegas revenue declined. Cash increased in 2026-Q2, though recent operating cash flow was lower than in 2025-Q4.

What Caesars Entertainment hinges on

The near-term test is whether CZR avoids a guidance cut and improves its run of earnings results. Over the next few quarters, the thesis also hinges on continued digital progress, steadier Las Vegas operations, and better cash generation to support debt reduction. Results and guidance from sector peers could strengthen or weaken the sector backdrop.