Caesars Entertainment revenue steady but loss widens in Q3
The company reported net revenue of $2.87bn.
US.- Caesars Entertainment has reported operating results for the third quarter ended September 30. Net revenue totalled $2.87bn, down 0.1 per cent from the same period in 2024.
The company posted a net loss of $55m, compared with a $9m loss in the same prior-year period. Adjusted EBITDA was $884m, down 11 per cent year-on-year. Caesars Digital reported adjusted EBITDA of $28m compared with $52m in Q3 2024.
Regional operations totalled $1.54bn in revenue, up 6 per cent. Las Vegas revenue was $952m, down 10 per cent.
For the nine months ending September 30, the company’s revenue was $8.6bn, up 1.7 per cent, year-on-year. Caesars Digital saw the strongest growth, up 14.9 per cent.
Tom Reeg, chief executive officer of Caesars Entertainment, said: “Our regional portfolio delivered net revenues and Adjusted EBITDA growth as a result of consistent operating trends and continued positive returns from our capital projects. Our Las Vegas segment Adjusted EBITDA declined during the quarter due to lower city-wide visitation and poor table games hold.
“Volumes in our Caesars Digital segment were strong, driven by continued product improvements while Adjusted EBITDA was negatively impacted by lower-than-expected sports hold during September. As we look to the fourth quarter, we anticipate improved operating performance given stronger occupancy in Las Vegas, continued momentum in our Caesars Digital segment and stable operating trends in our regional portfolio.”
