Caesars Entertainment(CZR)
Search documents
Caesars Entertainment(CZR) - 2025 Q1 - Quarterly Results
2025-04-29 20:20
Exhibit 99.1 Caesars Entertainment, Inc. Reports First Quarter 2025 Results LAS VEGAS and RENO, Nev. (April 29, 2025) – Caesars Entertainment, Inc., (NASDAQ: CZR) ("Caesars," "CZR," "CEI" or "the Company") today reported operating results for the first quarter ended March 31, 2025. First Quarter 2025 and Recent Highlights: Tom Reeg, Chief Executive Officer of Caesars Entertainment, Inc., commented, "During the first quarter of 2025, consolidated Adjusted EBITDA grew 4% over prior year driven by significant ...
Caesars Entertainment Gears Up for Q1 Earnings: What's in the Offing?
ZACKS· 2025-04-28 14:31
Core Viewpoint - Caesars Entertainment, Inc. is expected to report its first-quarter 2025 results on April 29, with a consensus estimate indicating a loss per share of 19 cents, widening from 18 cents in the past week, compared to a loss of 55 cents per share in the same quarter last year [1][2]. Group 1: Revenue Expectations - The consensus estimate for total revenues is set at $2.78 billion, reflecting a 1.4% increase from the previous year [2]. - Regional revenues are estimated at $1.38 billion, indicating a 0.7% year-over-year gain [6]. - Total Las Vegas revenues are projected at $1.03 billion, showing a slight decrease of 0.2% from the prior year [7]. - Caesars Digital revenues are expected to reach $336 million, representing a significant 19.1% increase year-over-year [7]. Group 2: Performance Influencers - The company's revenue growth is anticipated to be driven by new openings, strong performance in the digital segment, and an expansion in sports betting and strategic partnerships [4]. - Improving occupancy rates, average daily rates (ADR), and renovations are likely to contribute positively to performance [5]. - The focus on digital initiatives and technological enhancements is expected to enhance product offerings and customer engagement [5]. Group 3: Profitability Factors - Profitability may be pressured by inflation in food, beverage, and hotel expenses, along with increased property openings and ongoing investments [8]. - However, efforts to drive efficiencies by reducing same-store operating expenses are likely to support the bottom line [8]. Group 4: Earnings Prediction - The Zacks model indicates a potential earnings beat for Caesars Entertainment, supported by a positive Earnings ESP of +23.98% and a Zacks Rank of 3 (Hold) [9][10].
Caesars Entertainment (CZR) Expected to Beat Earnings Estimates: What to Know Ahead of Q1 Release
ZACKS· 2025-04-22 15:07
The market expects Caesars Entertainment (CZR) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on April 29, 2025, might help the stock move higher if these key numb ...
Why Is Caesars Entertainment (CZR) Down 20.1% Since Last Earnings Report?
ZACKS· 2025-03-27 16:31
A month has gone by since the last earnings report for Caesars Entertainment (CZR) . Shares have lost about 20.1% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Caesars Entertainment due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.How Have Estimates Been Moving ...
Carl Icahn brings two directors to Caesars' board. What could be next as the activist aims to build value
CNBC· 2025-03-22 12:55
Company Overview - Caesars Entertainment operates through several segments including Las Vegas, Regional, Caesars Digital, and Managed and Branded properties, offering a range of gaming, entertainment, and hospitality services [1] - The company has properties under the Caesars, Harrah's, Horseshoe, and Eldorado brand names [1] Recent Developments - Carl Icahn and Caesars reached an agreement to expand the board to 12 directors, appointing Jesse Lynn and Ted Papapostolou as new directors [2][5] - Icahn has a history with Caesars, advocating for a strategic review and supporting the merger with Eldorado in 2020 [3][4] Financial Performance - Caesars' revenue increased from $9.6 billion in 2021 to $11.2 billion, with operating income rising from $1.7 billion to $2.3 billion [4] - Despite revenue growth, Caesars' stock price has declined below pre-merger levels, indicating market challenges [4] Digital Business Insights - Caesars Digital generated $1.16 billion in revenue in 2024, accounting for 10.3% of total revenue, with a 19.5% growth from the previous year [5] - Digital's EBITDAR surged 207.9% from 2023 to 2024, with projections for another 160.9% increase in 2025 [5] - The digital segment is growing significantly compared to the stagnation in the brick-and-mortar segments, which saw revenue declines [5] Strategic Considerations - A potential spin-off of Caesars Digital could unlock significant value, with estimates suggesting a standalone valuation of $4.6 billion to $7.6 billion [5] - The separation would allow investors to choose between a stable legacy casino business and a high-growth digital business [5] - Icahn's involvement is seen as a positive influence, with expectations that he will work creatively to maximize shareholder value [7][8]
Bluesky wants 'a world without Caesars' for social media
TechXplore· 2025-03-12 17:34
Core Insights - Bluesky CEO Jay Graber emphasized the need for decentralized decision-making in social media, contrasting with the centralized control seen in platforms like X and Meta [3][5][8] - The platform aims to provide a user-friendly experience, allowing users to easily register and navigate without needing extensive technical knowledge [12] - Bluesky has over 30 million users and is rapidly expanding, although it still lags behind competitors like X and Meta's Threads, which has nearly ten times as many users [7][11] Company Overview - Bluesky was initially a side project at Twitter but became independent before Elon Musk's acquisition of Twitter [7] - The leadership team consists of two women, Graber and Wang, who lead a global team of about 20 people [7] - The platform is designed to allow users to create personalized experiences through specialized content feeds [9][10] Market Position - Bluesky is attracting left-leaning users seeking alternatives to X's perceived toxicity and right-wing bias [11] - The platform distinguishes itself from competitors like Mastodon by prioritizing simplicity in user registration and navigation [12] - Despite its growth, Bluesky faces challenges in scaling and developing sophisticated tools compared to established platforms [13] Future Outlook - The company views 2025 as a pivotal year for growth and aims to create a safe, moderated space for users to engage and connect [14] - Bluesky is introducing creator-friendly features, which may enhance its appeal to content creators seeking more control [13]
Caesars Entertainment Needs To Dodge The Obstacles
Seeking Alpha· 2025-03-03 18:05
I've been contributing to Seeking Alpha and other investment websites since 2011, with a general (though far from rigid) focus on value over growth. I got my Series 7 and 63 back in 1999, and watched the dot-com bubble peak and then burst in real time at a small, tech-focused retail brokerage in NYC.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article mysel ...
Caesars Entertainment Q4 Earnings Beat, Revenues Miss, Stock Up
ZACKS· 2025-02-26 19:15
Core Insights - Caesars Entertainment, Inc. (CZR) reported adjusted earnings per share (EPS) of five cents, exceeding the Zacks Consensus Estimate of a loss per share of 15 cents by 133.3% [3] - The company's net revenues for Q4 2024 were $2.8 billion, slightly missing the consensus mark of $2.81 billion by 0.4% and declining 0.9% year over year [3] - The performance was supported by lower total operating expenses and stable conditions in Las Vegas, with high occupancy rates and strong average daily rates (ADRs) [2][3] Financial Performance - Adjusted EBITDA for the Las Vegas segment was $481 million, down from $489 million in the prior year [4] - The Regional segment's net revenues were $1.34 billion, down from $1.36 billion year over year, with adjusted EBITDA of $410 million, down from $431 million [4] - Caesars Digital segment reported net revenues of $302 million, a decrease of 0.7% year over year, with adjusted EBITDA of $20 million, down from $29 million [5] Balance Sheet - As of December 31, 2024, Caesars Entertainment had cash and cash equivalents of $866 million, down from $1.01 billion at the end of 2023 [7] - The company's net debt remained relatively flat at $11.43 billion compared to the end of 2023 [7] Market Reaction - Following the announcement of the results, CZR stock increased by 1% during after-hours trading [2]
Caesars Entertainment(CZR) - 2024 Q4 - Earnings Call Transcript
2025-02-26 07:44
Financial Data and Key Metrics Changes - For the full year of 2024, the company reported consolidated same-store net revenues of $11.2 billion and EBITDA of $3.7 billion, achieving an EBITDA margin of 33.2% [9][12][41] - In Q4, consolidated EBITDA was flat year-over-year, with same-store net revenues of $1.1 billion and adjusted EBITDA of $478 million, down 1% compared to the previous year [10][11][12] - The company utilized proceeds from non-core asset sales to repay $500 million in debt and repurchase $190 million worth of stock [20][41] Business Line Data and Key Metrics Changes - The Las Vegas segment reported same-store net revenues of $1.1 billion and adjusted EBITDA of $478 million, with margins at 44.4% [10][11] - The regional segment saw a 1% decline in net revenues and a 5% decline in adjusted EBITDA, although the rate of decline improved sequentially [11][12] - The digital segment achieved record net revenues of $1.2 billion, up 20% year-over-year, with adjusted EBITDA of $117 million compared to $38 million a year ago [15][16] Market Data and Key Metrics Changes - In Las Vegas, occupancy for the full quarter was 96%, slightly down from the previous year [11] - The iGaming segment experienced a 65% net revenue growth in Q4, driven by improved product offerings [16] - The sports betting segment saw a decline in net revenue due to customer-friendly outcomes, although the overall volume declined slightly as the company limited activity in unprofitable segments [17][18] Company Strategy and Development Direction - The company concluded a significant capital investment cycle that began with the merger in July 2020, with expectations of increased free cash flow in 2025 and 2026 [13][14] - The company plans to continue focusing on improving both brick-and-mortar properties and digital offerings to drive growth [14][40] - There is a strategic consideration to explore ways to unlock value within the digital segment, potentially allowing for a pure-play investment opportunity [50][52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the performance of newly opened properties in New Orleans and Virginia, expecting strong results in 2025 [12][30] - The company anticipates that competitive pressures in regional markets will lessen, leading to improved performance [25][35] - Management noted that the Las Vegas market is expected to remain stable, with group business increasing significantly in 2025 and 2026 [37][68] Other Important Information - The company is focused on reducing leverage while also engaging in stock buybacks, with a target of reaching lease-adjusted leverage toward four times [57][58] - Management highlighted the importance of maintaining a strong customer base and improving customer experience across both digital and physical platforms [75][100] Q&A Session Summary Question: Guidance for 2025 expenses in Las Vegas and regionals - Management indicated a smaller increase in labor costs for 2025 and emphasized efficiency in operations [46][47] Question: Monetization of the digital segment - Management acknowledged the need to build the business value and explore strategic options to unlock value for shareholders [50][52] Question: Stock buybacks and leverage reduction - Management confirmed that the majority of free cash flow would be directed towards debt pay down, with stock buybacks occurring in asset sale transactions [58][60] Question: Las Vegas market growth drivers - Management noted that increased yield from room products and new food and beverage offerings would drive growth in Las Vegas [67][68] Question: iGaming growth drivers - Management highlighted that growth in iGaming is primarily driven by the standalone apps and customer acquisition strategies [73][75] Question: Regulatory landscape for digital gaming - Management described the current regulatory environment as a headline cycle, with potential for more iCasino jurisdictions in the future [82][84] Question: Changes in sports betting handle - Management explained that the decline in sports betting handle was due to strategic changes in customer reinvestment and targeting [115][116] Question: Trends in high-limit slot play - Management observed growth in high-limit slot play, attributing it to improved customer engagement and property enhancements [120][123]
Caesars Entertainment(CZR) - 2024 Q4 - Earnings Call Transcript
2025-02-26 01:59
Caesars Entertainment, Inc. (NASDAQ:CZR) Q4 2024 Earnings Conference Call February 25, 2025 5:00 PM ET Company Participants Brian Agnew - SVP, Corporate Finance, Treasury and IR Anthony Carano - President and COO Eric Hession - President, Caesars Sports and Online Gaming Bret Yunker - CFO Thomas Reeg - CEO Conference Call Participants Carlo Santarelli - Deutsche Bank David Katz - Jefferies Brandt Montour - Barclays Daniel Politzer - Wells Fargo Steven Wieczynski - Stifel Barry Jonas - Truist John DeCree - C ...