Caesars Entertainment’s revenue, income, and adjusted EBITDA declined in the third quarter, as indicated in an earnings report. The company reported revenue of $2.86 billion, down from $2.87 billion a year ago. There was a GAAP net loss of $55 million compared to a net loss of $9 million for the comparable prior-year period.
Same-store adjusted EBITDA was $884 million versus $996 million for the comparable prior-year period.
Caesars Digital reported adjusted EBITDA of $28 million versus $52 million for the comparable prior-year period.
“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,” said Caesars CEO Tom Reeg. “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.”
Reeg said as they look to the fourth quarter, Caesars anticipates improved operating performance given stronger occupancy in Las Vegas, continued momentum in our Caesars Digital segment and stable operating trends in our regional portfolio.