Caesars reports $123m third-quarter net loss as digital revenue rises

Caesars Entertainment's net revenue for the third quarter of 2026 rose modestly, but the company posted a $123 million loss, wider than the $55 million loss it recorded a year earlier. The net loss came to 61 cents per share, on revenue of $2.94 billion. Both figures trailed the analyst consensus, which had anticipated "earnings of 8 cents a share on revenue of $2.96 billion."

Adjusted EBITDA was $865m, down from $884m in Q3 2025. Caesars Digital adjusted EBITDA was $44m, compared with $28m a year earlier, and digital revenue rose 4.8% to $320m from $311m. Revenue at Caesars' nine Las Vegas properties fell 2.3% to $930m from $952m, while regional casinos contributed $1.6bn, a 5.9% increase from $1.5bn. Revenue from Caesars-managed and branded properties declined 20.5% to $55m from $73m.

As of 30 September, Caesars had $11.7bn in aggregate principal amount of debt outstanding, down from $11.9bn a year earlier. Total cash and cash equivalents were $864m, excluding restricted cash of $113m.

Caesars did not hold a third-quarter earnings conference call because of its pending $17.6bn acquisition by and merger with Fertitta Entertainment, announced earlier this year. Once the transaction closes, Caesars will become a private entity and delist from the Nasdaq exchange.

Caesars shares closed at $28.85, down 14 cents or 0.48%, on volume of 6.2 million shares traded on the Nasdaq, against an average volume of 4.8 million. In after-hours trading, the shares were down 5 cents, or 0.17%, at $28.80.