Company Performance & Financials - Caesars Digital generated approximately $13 billion of TTM Net Revenue and $171 million of TTM Adjusted EBITDA[14] - Q3 '25 TTM Adjusted EBITDA for Caesars Digital is 36% above Q3 '24 TTM[14] - Las Vegas center Strip assets generated approximately $1 billion of TTM Adjusted EBITDA[29] - Approximately $31 billion of capital spend in regional properties since closing of the Eldorado & Caesars merger in July 2020[34] - Since Q2 2024, Caesars has repurchased ~6% of shares outstanding totaling $391 million[54] - Q3 2025 Adjusted EBITDA was $884 million, with an Adjusted EBITDA margin of 308%[112, 113] Digital Growth - iGaming net gaming revenue increased by 30% YoY in Q3 2025, and 84% YoY in Q3 2024[77] - iGaming experienced a 2-Year Stack growth of +139%[77] - Monthly Unique Payers (MUPs) for Caesars Digital reached 458,434, a 15% YoY growth in Q3 '25 vs Q3 '24[75] Expansion & Investments - Caesars is developing Harrah's Oklahoma, expected to open in Q2 2026, increasing Caesars Rewards exposure to over 2 million adults within driving distance[37] - Caesars Republic Sonoma County is under development, expected to open in late 2027, giving Caesars Rewards exposure to over 6 million adults within 150 miles[40]

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. CZR stock is down. See the real-time price action here.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 ...

Financial Performance - For the three months ended September 30, 2025, total net revenues were $2,869 million, a slight decrease from $2,874 million in the same period of 2024[165]. - Adjusted EBITDA for the total company was $884 million for the three months ended September 30, 2025, down from $1,001 million in 2024, resulting in an Adjusted EBITDA margin of 30.8%[165]. - The company reported a net loss of $39 million for the three months ended September 30, 2025, compared to a net income of $9 million in the same period of 2024[165]. - During the nine months ended September 30, 2025, total net revenues were $8,570 million, an increase from $8,446 million in 2024[165]. - Adjusted EBITDA for Q3 2025 was $884 million, a decrease of 11.7% from $1,001 million in Q3 2024[200]. - For the nine months ended September 30, 2025, Adjusted EBITDA totaled $2,723 million, down 4.6% from $2,854 million in the same period of 2024[200]. Segment Performance - Caesars Digital segment reported net revenues of $311 million for the three months ended September 30, 2025, compared to $303 million in 2024, reflecting a growth of 2.6%[165]. - The Las Vegas segment generated net revenues of $952 million for the three months ended September 30, 2025, compared to $1,062 million in 2024, indicating a decline of 10.4%[165]. - The Regional segment saw an increase in net revenues to $1,536 million for the three months ended September 30, 2025, up from $1,446 million in 2024, marking a growth of 6.2%[165]. - Adjusted EBITDA for the Las Vegas segment decreased by 19.7% to $379 million for the three months and by 10.2% to $1,281 million for the nine months, reflecting lower visitation trends and unfavorable gaming hold[184]. - Adjusted EBITDA for the Regional segment was $506 million, a slight increase of $8 million (1.6%) from $498 million in the same period last year[187]. - Adjusted EBITDA for Caesars Digital decreased by $24 million (46.2%) to $28 million for the three months ended September 30, 2025, compared to $52 million in 2024[190]. Revenue and Expense Trends - Net revenues for the three months ended September 30, 2025, were $2,869 million, a slight decrease of 0.2% compared to $2,874 million in 2024, while net revenues for the nine months increased by 1.5% to $8,570 million from $8,446 million[167]. - Total operating expenses rose by 5.7% to $2,356 million for the three months and by 3.4% to $7,043 million for the nine months, primarily due to increased casino expenses and depreciation[168]. - Interest expense, net decreased by 3.4% to $(576) million for the three months and by 2.9% to $(1,729) million for the nine months, attributed to a reduction in outstanding debt and a shift to variable rate debt[177]. Cash Flow and Capital Management - Operating cash inflows for the nine months ended September 30, 2025, were $998 million, compared to $766 million for the same period in 2024, reflecting improved working capital management[203]. - As of September 30, 2025, the company had cash and cash equivalents of $836 million and total borrowing capacity of $2,792 million[203]. - Capital expenditures for the nine months ended September 30, 2025, were $648 million, down from $1.0 billion in the same period of 2024[210]. - The company has authorized a $500 million common stock repurchase program, with $271 million remaining for future repurchases as of September 30, 2025[204]. Debt and Financial Obligations - The company expects estimated lease payments to VICI and GLPI to be approximately $338 million for the remainder of 2025[207]. - Debt service obligations for the remainder of 2025 are estimated at approximately $188 million[207]. - The company redeemed $546 million of CEI Senior Notes due 2027 in July 2025, funded through the CEI Revolving Credit Facility[205]. - Long-term variable-rate borrowings totaled $6.1 billion as of September 30, 2025, representing approximately 51% of consolidated long-term debt[228]. - The weighted average interest rates on the company's variable and fixed rate debt were 6.53% and 6.18%, respectively[228]. Market Risk and Compliance - The company is exposed to market risk primarily from variable rate long-term debt arrangements and manages this risk by monitoring interest rates[227]. - The company has utilized derivative financial instruments to manage market risk but does not use them for trading purposes[230]. - The company faces certain contingencies involving litigation and compliance, which are discussed in detail in the annual report[224].

Financial Performance - Caesars reported GAAP net revenues of $2.9 billion for Q3 2025, unchanged from the prior year[4] - The company experienced a net loss of $55 million in Q3 2025, compared to a net loss of $9 million in Q3 2024[4] - Same-store Adjusted EBITDA decreased to $884 million in Q3 2025, down 11.7% from $996 million in Q3 2024[4] - For the three months ended September 30, 2025, net revenues were $2,869 million, a slight decrease from $2,874 million in the same period of 2024[24] - Casino revenues increased to $1,642 million in Q3 2025 from $1,599 million in Q3 2024, representing a growth of 2.7%[24] - Operating income for the nine months ended September 30, 2025, was $1,527 million, down from $1,635 million in the same period of 2024, reflecting a decrease of 6.6%[24] - The net loss attributable to Caesars for Q3 2025 was $55 million, compared to a net loss of $9 million in Q3 2024[24] - Adjusted EBITDA for the three months ended September 30, 2025, was $884 million, down from $996 million in Q3 2024, indicating a decline of 11.2%[25] - Interest expense for the nine months ended September 30, 2025, was $1,729 million, slightly lower than $1,780 million in the same period of 2024[24] - Total operating expenses for the nine months ended September 30, 2025, were $7,043 million, an increase from $6,811 million in the same period of 2024[24] Segment Performance - Las Vegas segment Adjusted EBITDA declined by 18.8% to $379 million, while Caesars Digital Adjusted EBITDA fell 46.2% to $28 million[8] - Regional net revenues increased by 6.2% to $1.536 billion, while Las Vegas revenues decreased by 9.8% to $952 million[3] - The company reported a 14.9% increase in Caesars Digital net revenues to $989 million for the nine months ended September 30, 2025[5] - Corporate and Other segment saw a significant improvement, with losses decreasing by 40% to $(3) million in Q3 2025[3] Shareholder Actions - The company repurchased 3.9 million shares for $100 million during the quarter, totaling 13.2 million shares repurchased for $391 million since mid-2024[12] Future Outlook - Caesars anticipates improved operating performance in Q4 2025 due to stronger occupancy in Las Vegas and continued momentum in the Caesars Digital segment[2] - The company anticipates continued challenges due to economic trends, inflation, and competition impacting future performance[20] - Caesars plans to focus on expanding its digital betting and iGaming platforms to grow its user base[20]

Core Insights - Caesars Entertainment and AGS have launched two exclusive slot titles, Kingdom of Horus and Reign of Anubis, available both in-person at Caesars' locations in Atlantic City and online across five North American jurisdictions [1][3]. Group 1: Launch Details - The new games are now live at Caesars Palace Online Casino, Horseshoe Online Casino, and Caesars Sportsbook & Casino in New Jersey, Pennsylvania, Michigan, West Virginia, and Ontario, as well as on casino floors at Caesars destinations in Atlantic City [1]. - The launch event featured local social media influencers, including NJ Slot Guy, who participated in a ceremonial first spin at Caesars Atlantic City [2]. Group 2: Game Features - Kingdom of Horus and Reign of Anubis are part of AGS' Triple Coin Treasures series, featuring a 3×5 reel layout with 40 paylines and mechanics such as Scarab Prizes, Wild Coins, and Pot Bonuses [4]. - Players can unlock Extra Spins, benefit from Symbol Upgrades, and enjoy Boosted Prizes with credit multipliers for enhanced payout potential [4]. Group 3: Strategic Importance - The launch is part of Caesars' strategy to blend online and in-person casino experiences, with a commitment to offering premium gaming experiences [3]. - The new titles join a growing list of exclusive launches between AGS and Caesars, enhancing Caesars' online casino offerings [3]. Group 4: Company Background - Caesars Entertainment is the largest casino-entertainment company in the US, known for its diversified gaming, entertainment, and hospitality amenities [9]. - The company operates under various brand names, including Caesars®, Harrah's®, and Horseshoe®, and emphasizes a strong loyalty program, Caesars Rewards® [9].

Core Insights - Caesars Entertainment, Inc. (CZR) is a gaming and hospitality company with a market cap of $4.6 billion, operating in 18 states and offering various services including casinos, hotels, and restaurants [1] - The company is expected to report a fiscal third-quarter loss of $0.04 per share, consistent with the previous year, and has missed consensus estimates in three of the last four quarters [2] - For the full fiscal year, CZR is projected to report a loss of $0.93 per share, a significant decrease from $0.55 in fiscal 2024, but is expected to rebound with an EPS of $0.63 in fiscal 2026, reflecting a 167.7% year-over-year increase [3] Performance Metrics - CZR stock has underperformed the S&P 500 Index, which gained 14.8% over the past 52 weeks, with CZR shares down 50.9% during the same period [4] - Following the Q2 results announcement, CZR shares fell over 3% after reporting a loss of $0.39 per share, which was below Wall Street's expectation of $0.07 EPS, despite revenue of $2.91 billion exceeding forecasts [5] Analyst Sentiment - The consensus opinion on CZR stock is moderately bullish, with a "Moderate Buy" rating; 12 out of 17 analysts recommend a "Strong Buy," four suggest a "Hold," and one advises a "Strong Sell" [6] - The average analyst price target for CZR is $39.75, indicating a potential upside of 79.1% from current levels [6]

Group 1 - The company has released its latest top investment picks for November 2025, emphasizing the timeliness of joining to access these opportunities [1] - The company invests significant resources, over $100,000 annually, into researching profitable investment opportunities, particularly in real estate strategies [1] - The approach has garnered over 500 five-star reviews from satisfied members, indicating a positive reception and effectiveness of the investment strategies [2] Group 2 - The company encourages potential members to join now to start maximizing their returns, highlighting the urgency and potential benefits of membership [2]

Core Points - Coca-Cola HBC is conducting a conference call to discuss the acquisition of CCBA and provide a trading update for the third quarter of 2025 [1][2] Group 1 - The call is led by Jemima Benstead, Head of Investor Relations, alongside CEO Zoran Bogdanovic and CFO Anastasis Stamoulis [2] - The conference call is being recorded and took place on October 21, 2025 [1] Group 2 - Participants are reminded to limit their questions to one initial question and one follow-up, ensuring that the first question is answered before proceeding [2]

Core Viewpoint - The assessment indicates that CZR stock is unattractive due to poor operating performance and financial condition, alongside a high valuation [2][5]. Group 1: Company Overview - Caesars Entertainment has a market capitalization of $4.6 billion and operates 52 properties across 16 states, managing approximately 55,700 gaming machines [5]. Group 2: Financial Performance - The company has experienced an average revenue growth rate of 3.2% over the last three years, with revenues remaining flat at $11 billion over the last 12 months [7]. - Quarterly revenues increased by 2.7%, rising from $2.8 billion to $2.9 billion year-over-year [7]. - The last 12 months' operating income was $2.2 billion, resulting in an operating margin of 19.3% and a cash flow margin of 10.7%, generating nearly $1.2 billion in operating cash flow [11]. - However, the company reported a net income of approximately -$195 million, indicating a net margin of about -1.7% [11]. Group 3: Financial Stability - Caesars Entertainment's debt stood at $25 billion at the end of the most recent quarter, leading to a Debt-to-Equity Ratio of 549.4% [11]. - The company's cash (including cash equivalents) amounts to $982 million out of total assets of $32 billion, resulting in a Cash-to-Assets Ratio of 3.0% [11]. Group 4: Market Performance - CZR stock has seen significant declines, falling 73.0% from a high of $119.49 on October 1, 2021, to $32.26 on September 30, 2022, compared to a peak-to-trough decline of 25.4% for the S&P 500 [12]. - The stock has not yet recovered to its pre-crisis high, with a recent peak of $59.38 on July 26, 2023, and currently trading at $21.86 [12]. - CZR stock experienced an 89.8% drop from a high of $69.47 on February 20, 2020, to $7.10 on March 18, 2020, while the S&P 500 saw a peak-to-trough decline of 33.9% during the same period [12].

Core Viewpoint - Caesars Entertainment (CZR) stock is currently trading within a support range of $22.21 to $24.54, from which it has historically rebounded significantly [2][3] Group 1: Stock Performance - Over the last decade, CZR stock has attracted buying activity at its current support levels four times, yielding an average peak return of 115.7% [3] - The stock has experienced significant declines in the past, including a nearly 90% drop during the Covid pandemic and a 73% decline amid inflation shocks [5] Group 2: Company Overview - Caesars Entertainment operates as a gaming and hospitality entity, managing 52 properties across the U.S. with approximately 55,700 gaming machines [3] - The company has recorded a revenue growth of -0.1% over the last twelve months and an average growth of 3.2% over the past three years [6] Group 3: Financial Metrics - CZR has a free cash flow margin of nearly 0.4% and an operating margin of 19.3% for the last twelve months [6] - The stock is currently trading at a price-to-earnings (PE) multiple of -25.1, indicating that the company is currently operating at a loss [6] Group 4: Investment Considerations - Compared to the S&P 500, CZR offers a lower valuation and revenue growth but has superior operating margins [6] - The Trefis High Quality (HQ) Portfolio, which includes CZR, has historically outperformed its benchmark indices, providing superior returns with reduced risk [8]