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Caesars Entertainment, Inc. (NASDAQ:CZR) shares traded lower in Tuesday’s extended session after the casino operator missed earnings and revenue estimates in the third quarter.
Here's a look at the key figures from the quarter.
The Details: Caesars Entertainment reported quarterly losses of 27 cents per share. It missed the analyst estimate for earnings of one cent.
Quarterly revenue came in at $2.86 billion, missing the Street estimate of $2.89 billion.
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“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,” Tom Reeg, CEO of Caesars Entertainment, commented.
“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 added.
CZR Stock Price: According to Benzinga Pro, Caesars Entertainment stock fell 11.09% to $19.65 in Tuesday's extended trading.
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Posted In: CZR
