The ticker ERI traces to Eldorado Resorts, which acquired Caesars Entertainment Corporation in the summer of 2020 and then changed its name, symbol, and CUSIP to Caesars Entertainment, Inc., trading as CZR on Nasdaq. The legacy symbol has been retired for six years, and the company now files under a different CIK on EDGAR.
A pending take-private with Fertitta Gaming Holdco, LLC, caps the equity story at a cash price of $31.00 per share. The stock closed at a discount to the deal price, with a market capitalization in the low single-digit billions.
First-half 2026 net revenues grew modestly year over year, but the company posted a net loss attributable to Caesars. Interest expense consumed all operating income against a heavy debt load. Consolidated Adjusted EBITDA held at a 30.8 percent margin.
The base case is a closing in late 2026 or early 2027 at the full deal price. The bear case is regulatory or financing failure, leaving a termination fee and a stock that snaps back toward the 52-week low. A daily ticking fee after a set deadline creates a shared incentive to close before that date.