Caesars Entertainment reports Q3 EPS (27c) vs (4c) last year

Reports Q3 revenue $2.9B, consensus $2.89B. Tom Reeg, Chief Executive Officer of Caesars (CZR) Entertainment, Inc., commented, “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.”