Caesars Entertainment shares are up 36.45% year to date, which is fantastic news for all investors, including the hedge funds that are long on the firm. Hedge fund ownership of Caesars, and other casino companies in general, has room to grow because these market participants are currently underweight in cyclical sectors, which include consumer discretionary names. For the time being, it appears that hedge fund positioning in Caesars isn't influenced by the aforementioned considerations, as the Harrah's operator isn't for sale and is doing an amazing job of reducing debt without the assistance of the financial community.