Caesars Q3 2023 Earnings Report
Key Takeaways
Caesars Entertainment, Inc. reported GAAP net revenues of $3.0 billion and GAAP net income of $74 million for the third quarter ended September 30, 2023. The company achieved an all-time consolidated Adjusted EBITDA record, with growth in all three primary operating segments: Las Vegas, Regional, and Caesars Digital.
GAAP net revenues reached $3.0 billion, compared to $2.9 billion in the prior-year period.
GAAP net income was $74 million, up from $52 million in the prior-year period.
Consolidated Adjusted EBITDA was $1.04 billion, versus $1.01 billion for the prior-year period.
Caesars Digital Adjusted EBITDA improved to $2 million, compared to $(38) million in the prior-year period.
Caesars
Caesars
Caesars Revenue by Segment
Forward Guidance
This press release includes forward-looking statements regarding strategies, objectives, plans for future development or acquisitions of properties or operations, as well as expectations, future operating results and other information that is not historical information.
Challenges Ahead
- Impacts of economic and market conditions
- Our ability to successfully operate our digital betting and iGaming platform and expand its user base
- Risks associated with our leverage and our ability to reduce our leverage
- The effects of competition on our business and results of operations
- The effects of inflation, supply chain constraints and continuing impacts of COVID-19