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CZR — Caesars Entertainment News Story

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Caesars Entertainment Q3 revenue beats estimates on regional portfolio growth

Overview

Caesars Q3 revenue slightly beats analyst expectations at $2.9 bln

Company reports Q3 net loss of $55 mln, compared to $9 mln loss last year

Adjusted EBITDA declines 11.2% yr/yr

Outlook

Caesars anticipates improved Q4 performance due to stronger Las Vegas occupancy

Company expects continued momentum in Caesars Digital segment

Caesars sees stable operating trends in regional portfolio for Q4

Result Drivers

REGIONAL GROWTH - Regional portfolio saw growth in net revenues and Adjusted EBITDA due to consistent operating trends and capital projects

LAS VEGAS DECLINE - Las Vegas segment Adjusted EBITDA declined due to lower city-wide visitation and poor table games hold

DIGITAL SEGMENT IMPACT - Caesars Digital segment volumes were strong but Adjusted EBITDA was negatively impacted by lower-than-expected sports hold during SSeptember

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 RevenueBeat$2.9 bln$2.89 bln (15 Analysts)
Q3 Net Income-$55 mln
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell" The average consensus recommendation for the casinos & gaming peer group is "buy" Wall Street's median 12-month price target for Caesars Entertainment Inc is $40.00, about 43.6% above its October 27 closing price of $22.55 The stock recently traded at 53 times the next 12-month earnings vs. a P/E of 53 three months ago Press Release: ID:nBw6FFQlQa For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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