CZR
Caesars Entertainment
Is CZR Halal?
HARAM: casino, sports-betting and iGaming operations are core; casino revenue and debt both fail the current screens.
What You Should Know
Caesars operates casinos, gambling entertainment, sports betting and iGaming. Its March 31, 2026 filing reports $1,666 million of casino revenue on $2,870 million of net revenue (58.05%), with debt/assets of 37.64%. Gambling (maysir) remains prohibited under Islamic law, so the current quantitative and qualitative analyses converge on HARAM.
⚠️ Concerns
- •Casino gambling and Caesars Digital gaming
- •Casino revenue was 58.05% of quarterly revenue
- •Debt/assets was 37.64%
- •Alcohol and gaming-credit exposure
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
11,917 / 31,664
867 / 31,664
1,308 / 31,664
2 / 2,870
- Financial
- Fails
- Overall
- Fails
Debt/assets is 37.64%, above the 33.333% limit; liquidity/assets is 2.74%, receivables-plus-cash/assets is 4.13%, and the casino-revenue lower bound is 58.05% of total revenue.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 37.64%, above the examined MSCI total-assets limit; the business-activity screen also fails on gambling revenue.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 37.64%, above the examined Malaysia limit; casino revenue is 58.05% of total revenue. This is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; asset-based financial and business-activity screens already fail.
Business-activity disclosure
Caesars operates casinos, sports betting, iGaming and casino resorts. Gambling (maysir) is prohibited under Islamic law, making the core business impermissible even though hotels, food and beverage and managed properties are also reported.
Limitation: Casino revenue is used as a documented lower-bound prohibited-activity numerator; gaming handle and mixed digital streams are not all separately classified in the income statement.
Purification
The filing reports $2 million of interest income net of interest expense; ZakatInvest does not prescribe a fixed scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Caesars Entertainment's March 31, 2026 Form 10-Q.
- Debt is total debt including the current portion of long-term debt; the filing reports $11,917 million of total debt.
- Casino revenue was $1,666 million of $2,870 million of net revenue; the filing also reports Caesars Digital casino revenue within that total.
- The filing reports $2 million of interest income netted against interest expense.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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