Caesars Entertainment Property Tours
During a recent trip to Las Vegas, I had the opportunity to visit many properties owned by Caesars Entertainment (CZR).
CZR is a core position in our portfolio, and these visits reinforced both my conviction in the long-term thesis, but also my awareness of near-term headwinds.
Before going into this update, I recommend starting by reading our investment thesis by clicking here.
Iconic Properties on the Strip
Caesars owns and operates some of the most well-known and strategically located casinos on the Las Vegas Strip, including:
Paris Las Vegas – With its Eiffel Tower replica and prime location, it draws both tourists and conference-goers.
Harrah's Las Vegas – Known for its affordability and central positioning, it appeals to budget-conscious travelers.
Flamingo Las Vegas – A historically rich and high-traffic property with iconic branding.
It also operates other iconic properties such as the Caesars Palace, which it leases from VICI Properties (VICI):
These properties are not just casinos. They are real entertainment destinations, with live shows, restaurants, bars, nightclubs, shops, and more.
The atmosphere on the Las Vegas Strip is more vibrant and energized than ever, which brings me to my first point:
