Caesars projects digital revenue of $303m to $305m for Q4 2023
Caesars Entertainment projected fourth-quarter 2023 Caesars Digital net revenue of $303m to $305m in a preliminary earnings release. The company forecast a net loss of $7m to $9m and said unfavourable sports outcomes in November reduced revenue by $44m and adjusted EBITDA by $29m, according to its filing. Analysts cited in the report were not overly concerned about the results.
Operators and investors can assess Caesars Digital’s earnings exposure to unfavourable sports outcomes.