Caesars Entertainment, Inc. bonds CZR
Who owns Caesars Entertainment, Inc.'s debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. CZR stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| 12769GAA8 | 4.625% fixed | 2029-10-15 | USD | 95.11 | 6.33% | 206 bp | 55 | $174.9M | Jul 2026 |
| 12769GAB6 | 7% fixed | 2030-02-15 | USD | 100.36 | 6.88% | 260 bp | 63 | $248.1M | Jul 2026 |
| 12769GAC4 | 6.5% fixed | 2032-02-15 | USD | 95.61 | 7.48% | 312 bp | 60 | $169.8M | Jul 2026 |
| 12769GAD2 | 6% fixed | 2032-10-15 | USD | 87.74 | 8.59% | 418 bp | 46 | $132.4M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 4 | $725.2M | 95.36 | 7.18% | 286 bp | 63 |
| Jun 2026 | 4 | $1.59B | 96.87 | 6.91% | 270 bp | 123 |
| May 2026 | 4 | $617.9M | 96.95 | 6.83% | 269 bp | 58 |
| Apr 2026 | 4 | $796.4M | 96.88 | 6.81% | 287 bp | 67 |
| Mar 2026 | 4 | $1.42B | 97.56 | 6.67% | 282 bp | 133 |
| Feb 2026 | 4 | $706.4M | 99.70 | 6.22% | 248 bp | 58 |
| Jan 2026 | 4 | $816.2M | 99.79 | 6.06% | 227 bp | 73 |
| Dec 2025 | 4 | $1.41B | 99.89 | 6.01% | 229 bp | 132 |
| Nov 2025 | 4 | $666.7M | 98.57 | 6.17% | 248 bp | 61 |
| Oct 2025 | 4 | $812.2M | 98.14 | 6.33% | 268 bp | 73 |
| Sep 2025 | 4 | $1.38B | 100.29 | 6.17% | 235 bp | 122 |
| Aug 2025 | 4 | $636.0M | 100.28 | 6.07% | 224 bp | 60 |
| Jul 2025 | 4 | $927.0M | 99.27 | 6.16% | 224 bp | 76 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 91 added, 150 cut, 30 new holders and 56 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $643.1M | $616.1M | $113.6M |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $174.1M | $171.0M | -$15.4M |
| American High Income Trust | 2026-06-30 | $172.3M | $166.1M | $49.7M |
| Income Fund of America | 2026-07-31 | $133.1M | $126.6M | $27.6M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $115.9M | $110.9M | $11.1M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $81.1M | $78.6M | -$6.9M |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $79.8M | $78.6M | $0 |
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $67.6M | $66.7M | -$12.0M |
| PGIM Total Return Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $67.3M | $64.7M | -$6.7M |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $63.8M | $62.6M | -$6.2M |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $54.0M | $52.8M | $13.2M |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $50.5M | $49.9M | -$12.4M |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $49.7M | $46.2M | -$3.7M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $46.1M | $44.9M | $4.2M |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $45.7M | $44.4M | $2.7M |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $28.3M | $28.0M | -$5.0M |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $27.7M | $27.2M | -$360K |
| High Yield Fund Principal Funds, Inc | 2026-07-31 | $29.2M | $27.0M | -$18.9M |
| Franklin Income VIP Fund Franklin Templeton Variable Insurance Products Trust | 2026-06-30 | $27.8M | $26.4M | $9.0M |
| High Yield Fund John Hancock Bond Trust | 2026-05-31 | $25.6M | $25.4M | $3.8M |
| Franklin Templeton SMACS Series I Franklin Strategic Series | 2026-05-31 | $24.5M | $23.3M | $12.0M |
| Janus Henderson Multi-Sector Income Fund Janus Investment Fund | 2026-06-30 | $25.5M | $23.1M | $0 |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $23.2M | $21.8M | -$8.5M |
| Shenkman Capital Short Duration High Income Fund Advisors Series Trust | 2026-06-30 | $22.4M | $21.7M | $3.9M |
| American Funds Strategic Bond Fund | 2026-06-30 | $20.6M | $20.1M | $4.6M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): First Trust Smith Unconstrained Bond ETF ($16.3M), Nomura High Income Fund ($15.1M), T. Rowe Price U.S. High Yield ETF ($7.9M), First Trust Smith Opportunistic Fixed Income ETF ($7.1M), CTIVP - American Century Diversified Bond Fund ($6.1M), T. Rowe Price U.S. High Yield Fund ($5.2M), Nomura VIP High Income Series ($4.6M), Franklin Floating Rate Daily Access Fund ($3.6M), Nomura Diversified Income Fund ($3.2M), Global Opportunities Portfolio ($3.2M).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 4 | $115.9M | $110.9M | 0.39% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 4 | $81.1M | $78.6M | 0.49% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 4 | $46.1M | $44.9M | 0.40% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 4 | $45.7M | $44.4M | 0.60% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 2 | $27.7M | $27.2M | 0.36% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 2 | $17.3M | $17.1M | 0.35% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 4 | $17.5M | $17.0M | 0.49% |
| CGMS Capital Group U.S. Multi-Sector Income ETF | 2026-06-30 | 3 | $16.2M | $15.7M | 0.30% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 3 | $12.4M | $12.2M | 0.93% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 1 | $13.3M | $11.9M | 0.73% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 4 | $11.5M | $11.1M | 0.46% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 2 | $10.6M | $10.5M | 0.48% |
| JCPB JPMorgan Core Plus Bond ETF | 2026-05-31 | 2 | $9.1M | $9.0M | 0.07% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 4 | $9.2M | $8.9M | 0.35% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 2 | $8.1M | $7.1M | 0.65% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 3.06: safer than 26% of companies (24th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $5.92B |
| Debt barrier (short-term + ½ long-term debt) | $5.91B |
| Equity volatility (1 year) | 44.1% |
| Asset value / asset volatility (solved) | $11.57B / 22.6% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 286 bp spread prices in about 4.8% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Altman Z'' = 0.09 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CZR's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-09-30 filings still arriving | 32 | $4.3M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 400 | $5.64B | 21 | $151.1M | 37 | $569.0M | 0 |
| 2026-03-31 | 382 | $4.47B | 29 | $190.0M | 33 | $270.0M | 0 |
| 2025-12-31 | 361 | $4.91B | 22 | $241.1M | 32 | $423.1M | 1 |
| 2025-09-30 | 429 | $5.39B | 25 | $457.1M | 31 | $240.2M | 1 |
| 2025-06-30 | 436 | $6.29B | 26 | $404.4M | 34 | $244.7M | 1 |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.