Caesars Q3 revenue misses estimates despite regional growth
Overview
US casino-entertainment firm's Q3 revenue was flat yr/yr and missed analyst expectations
Company posted a wider Q3 net loss compared to last year
Adjusted EBITDA for Q3 declined slightly from the prior year
Outlook
Caesars says Fertitta Entertainment acquisition remains pending
Result Drivers
REGIONAL GROWTH - Co reported higher regional revenues, offsetting declines in Las Vegas segment
DIGITAL IMPROVEMENT - Caesars Digital segment saw improved profitability in Q3
MANAGED AND BRANDED WEAKNESS - Managed and Branded segment revenues declined sharply
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $2.90 bln | $2.96 bln (14 Analysts) |
Q3 Net Loss | $123 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 15 "hold" and no "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 $31.00, about 6.9% above its October 26 closing price of $28.99
Reuters Recommended Reads
Oct 27 - Australia's Star Entertainment surges 13% as cost cuts, casino strength drive profit
Oct 27 - Hilton misses quarterly revenue estimates, warns of Mideast impact
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@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.)