Caesars Entertainment Widens Q3 Net Loss to $123 Million as Revenue Misses Estimates Ahead of Privatization

Caesars Entertainment posted a net loss of $123 million in the third quarter of 2026. This compares to a net loss of $55 million in the same period last year. Revenue totaled $2.94 billion against analyst expectations of $2.96 billion, with a per-share loss of 61 cents versus expected earnings of 8 cents.

The company held no earnings conference call because of its pending transaction.

Segment Performance Details

Revenue for Caesars’s nine Las Vegas properties declined by 2.3% to $930 million compared to $952 million in the third quarter of 2025. Regional casinos generated $1.6 billion, a 5.9% increase from $1.5 billion. Caesars Digital revenue rose 4.8% to $320 million from $311 million, while adjusted EBITDA for the digital unit climbed to $44 million from $28 million.

Overall adjusted EBITDA was $865 million compared to $884 million in the prior-year quarter. Revenue from Caesars-managed and branded properties declined 20.5% to $55 million from $73 million.

Debt Position and Pending Merger

As of September 30, aggregate principal debt stood at $11.7 billion, down from $11.9 billion. Cash and cash equivalents totaled $864 million, excluding restricted cash of $113 million. Shares closed at $28.85, down 14 cents or 0.48%, on volume of 6.2 million shares.

The pending $17.6 billion acquisition and merger with Fertitta Entertainment, announced earlier this year, will take the company private and result in delisting from the Nasdaq exchange, according to CDC Gaming.