Why Caesars Entertainment Stock Plummeted 15.2% Today

Core Points - Caesars Entertainment Inc's shares fell by 15.2% on Wednesday, contrasting with a flat S&P 500 and a 0.5% gain in the Nasdaq Composite [1] - The company reported a loss of $0.27 per share on $2.87 billion in sales, missing Wall Street's expectations of a loss of $0.09 per share on $2.89 billion in sales [3][6] - Las Vegas sales declined nearly 10% year over year, attributed to a drop in seasonal traffic [3][4] Financial Performance - Caesars Entertainment's Q3 earnings missed targets, with a reported loss of $0.27 per share [3][6] - Total sales for the quarter were $2.87 billion, slightly below the consensus estimate of $2.89 billion [3][6] Market Trends - The decline in Las Vegas traffic is noted, with CEO Tom Reeg mentioning softness in leisure demand during the summer months [4] - The shift towards online gambling is highlighted as a significant factor affecting Caesars' performance, as many gamblers prefer online platforms over traditional brick-and-mortar casinos [4] Investment Considerations - Analysts from The Motley Fool Stock Advisor have identified 10 stocks they believe are better investment opportunities than Caesars Entertainment [5][6]