Caesars Entertainment Sees 20-Point Outperformance as Diameter Capital Partners LP Invests $20 Million

Caesars Entertainment's stock has outperformed the market by 20 points, and Diameter Capital Partners LP has disclosed a new position in the company, acquiring 850,000 shares worth $19.88 million. The firm's revenue increased to $11.5 billion, while its adjusted EBITDA fell to $3.6 billion. The company still reported a net loss and carries nearly $12 billion in debt. Digital segment EBITDA more than doubled year over year, helping offset softer trends in legacy casino operations.