LAS VEGAS (KSNV) — Nevada-based Caesars Entertainment has been dropped from a major stock market index.
S&P Dow Jones announced last week that Caesars has been removed from the S&P 500.
Caesars’ stock was trading at $25.25 per share at Wednesday’s opening. The price is down more than 22% from the start of the year, and its market capitalization is about $5.4 billion.
That’s below the $22.7 billion market capitalization benchmark the S&P 500 uses to include U.S. stocks.
The company’s stock will now be listed in the S&P SmallCap 600, which features small-sized companies with a market capitalization of up to $8 billion.
