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Caesars Entertainment (NASDAQ: $CZR ) hasn't lit the world on fire lately. But it might be worth placing a bet on the small-cap hotel and casino operator.

Over the past five years, CZR stock has declined 70%, giving the company a market capitalization of $4.87 billion U.S.

Things got so bad that Caesars was removed from the S&P 500 index last year after its market capitalization fell below the inclusion threshold.

Since November 2025, CZR stock has been listed on the S&P SmallCap 600 index.

While the drop in Caesars Entertainment's share price has been both relentless and scary, there may now, finally, be a buying opportunity for investors.

The stock of Caesars has decreased as the company has steadily grown through a series of expensive acquisitions that have led to high debt levels and an erratic bottom line.

Caesars Entertainment was also hit with an ugly ransomware attack in 2023 that shook investor confidence.

However, some analysts are now turning bullish on CZR stock as the company pushes further into the fast-growing area of sports betting.

In 2021, the company acquired the sports betting company William Hill for $3.7 billion U.S. and rebranded it as "Caesars Sportsbook."

Caesars has also struck a multi-year deal that named the organization the official sportsbook partner of the NBA's Cleveland Cavaliers basketball team.

Following its string of acquisitions, Caesars Entertainment has begun selling off some of its properties, notably the World Series of Poker brand for $500 million U.S.

Analysts say these moves should help to improve Caesars' debt load and balance sheet.

Plus, Caesars Entertainment continues to own several legendary and lucrative properties in the gambling mecca of Las Vegas, notably Caesars Palace, The Flamingo, and Planet Hollywood.

There's no dividend offered and it may still take time for CZR stock to bottom and reverse higher. But the early signs of a recovery are there and this might be worth a roll of the dice.