Caesars Posts Adjusted Loss of $0.61 per Share and Revenue of $2.94 Billion in Third Quarter
Key Facts
Caesars Entertainment posted an adjusted loss of $0.61 per share in the third quarter of 2026, compared with analysts’ estimate of a $0.10 loss, while revenue was $2.94 billion, below consensus of $2.97 billion, according to Investing.com data. The results came after the company said it would release its financial results after the market close on Tuesday, October 27, 2026. Year over year, revenue rose 2.5% from $2.87 billion in the third quarter of 2025. But that growth did not come with an improvement in adjusted operating earnings, as adjusted EBITDA fell 2.1% to $865 million from $884 million a year earlier. The net loss attributable to the company also widened to $123 million from $55 million in the year-earlier period.
The company’s units delivered mixed results during the quarter, with regional segment revenue up 5.9% to $1.63 billion, while Las Vegas revenue fell 2.3% to $930 million, according to Investing.com. In digital operations, Caesars Digital revenue rose 4.8% to $326 million. The segment’s adjusted EBITDA improved to $44 million, compared with $28 million in the year-earlier quarter. The figures put growth in the regional segment and digital operations against declining Las Vegas revenue, alongside a drop in group-wide adjusted EBITDA. Second-quarter results showed a loss of $0.30 per share and revenue of $2.99 billion, according to a Reuters report published via Investing.com. The adjusted per-share loss in the third quarter was therefore larger than the prior quarter’s loss, while revenue was below that quarter’s level.
Caesars had $11.7 billion of outstanding debt as of September 30, 2026, and cash and cash equivalents of $864 million. Net debt was $10.8 billion, down from $11.0 billion at the end of 2025. The comparison shows net debt declining from the end of the previous year, alongside a wider third-quarter net loss than in the same period last year. CZR shares closed at $28.99 on October 26, 2026, according to EL7 data. After the results were announced, the stock fell 0.49%, according to Investing.com. The move followed results that included revenue below consensus estimates and an adjusted per-share loss greater than analysts had forecast.
The results come amid a pending merger between Caesars and Fertitta Entertainment, which the company announced on May 28, 2026. Caesars said it would not hold an earnings call, citing the pending deal. In September, shareholders approved the merger with more than 133 million votes in favor, compared with approximately 4 million votes against, according to an Associated Press report. The deal still requires federal antitrust review. If completed, Caesars will become a private company, and shareholders will receive $31 in cash for each share, the agency reported. The results announcement therefore does not include a company earnings call, while completion of the antitrust review remains one of the steps in the deal process.