TLDR Gamco Investors raised its stake in Caesars (CZR) by 72.8% to 999,162 shares worth ~$27M in Q3 Caesars missed Q4 EPS badly, reporting -$1.23 vs. the -$0.18 estimate, but revenue of $2.92B edged past forecasts Kalshi prediction market traders are pricing in a 68% chance of Caesars being acquired in 2026 Multiple potential bidders are rumored, including management and billionaire Tilman Fertitta Institutional ownership stands at 91.79%, with Goldman Sachs doubling its position in Q1
Caesars Entertainment (CZR) is back in the spotlight — and not just because of a rough earnings print. A wave of institutional buying and fresh takeover chatter have put the casino giant on traders’ radar heading into 2026.
Caesars Entertainment, Inc., CZR
Gamco Investors raised its stake in CZR by 72.8% during Q3, picking up an additional 420,922 shares to bring its total to 999,162 — worth roughly $27 million at the time of filing. Gamco now holds about 0.49% of the company.
Gamco wasn’t alone. Goldman Sachs more than doubled its position in Q1, adding 826,356 shares to reach 1,599,273. AQR Capital Management lifted its stake by 47.7%, and Woodline Partners added 40.7% to its holding. Institutional investors now own 91.79% of CZR.
Despite the institutional appetite, entertainmenthad a tough Q4 on the earnings front. The company reported a loss of $1.23 per share, far below the consensus estimate of -$0.18 — a miss of $1.05. Revenue came in at $2.92 billion, slightly ahead of the $2.89 billion forecast, up 4.2% year-over-year.
Takeover Speculation Heats Up
The bigger story may be what’s happening off the earnings page. Prediction market platform Kalshi has traders pricing in a 68% probability that Caesars gets acquired before January 1, 2027. Those odds translate to roughly -212 in traditional betting terms —