The earnings call presented a strong performance in digital and non-gaming segments, particularly in Las Vegas, and highlighted successful asset sales aimed at reducing debt. However, challenges in the regional segment due to competition and construction, as well as weather impacts, were noted. Despite these challenges, the overall outlook remains optimistic, driven by digital growth and strategic asset management.

Company Guidance

During the Caesars Entertainment Q3 2024 earnings call, the company provided detailed guidance across several metrics. Caesars reported same-store consolidated net revenues of $2.9 billion and adjusted EBITDA of $1 billion for the third quarter, with consolidated EBITDA margins holding steady at 35%. In Las Vegas, the segment delivered net revenue of $1 billion and adjusted EBITDA of $472 million, maintaining a 44.4% EBITDA margin. The digital segment saw significant growth, with net revenues up 41% year-over-year to $303 million, contributing to an all-time quarterly adjusted EBITDA of $52 million. The regional segment faced challenges, with adjusted EBITDA down 13% year-over-year to $498 million, influenced by new competition and construction disruptions. However, Caesars celebrated the opening of the $435 million Caesars New Orleans project, which includes a new hotel and casino renovations. Looking ahead, Caesars anticipates continued strong performance driven by high occupancy rates and ADR trends, along with the completion of significant capital projects and expansion in online gaming and sports betting markets.

Record Non-Gaming Performance in Las Vegas

Las Vegas delivered same-store net revenue of $1 billion driven by record hotel and F&B cash revenue with occupancy at 97.1%.

Caesars Digital Segment Growth

Caesars Digital net revenues grew 41% year-over-year, achieving an all-time quarterly adjusted EBITDA record of $52 million, up from $2 million the previous year.

iGaming Revenue Surge

iGaming net revenue growth accelerated to 83%, driven by a 55% increase in volume and improved year-over-year hold.

Successful Asset Sales

Sale of World Series of Poker and LINQ Promenade completed, yielding significant cash proceeds for debt reduction.

Strong Group and Convention Segment in Las Vegas

Las Vegas group and convention segment continues to show strong results, with positive pacing into 2025.

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Caesars Entertainment (CZR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CZR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 25, 2025	2024 (Q4)	0.02 / -	-0.34	―	―	―
Oct 29, 2024	2024 (Q3)	0.21 / -0.04	0.34	-111.76% (-0.38)	―
Jul 30, 2024	2024 (Q2)	0.12 / -0.56	4.26	-113.15% (-4.82)	―
Apr 30, 2024	2024 (Q1)	-0.08 / -0.73	-0.63	-15.87% (-0.10)	―
Feb 20, 2024	2023 (Q4)	-0.04 / -0.34	-0.7	51.43% (+0.36)	―
Oct 31, 2023	2023 (Q3)	0.29 / 0.34	0.24	41.67% (+0.10)	―
Aug 01, 2023	2023 (Q2)	0.33 / 4.26	-0.57	847.37% (+4.83)	―
May 02, 2023	2023 (Q1)	>-0.01 / -0.63	-3.18	80.19% (+2.55)	―
Feb 21, 2023	2022 (Q4)	0.21 / -0.70	-2.07	66.18% (+1.37)	―
Nov 01, 2022	2022 (Q3)	0.23 / 0.24	-1.08	122.22% (+1.32)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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CZR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2024	$45.28	$41.56	-8.22%
Jul 30, 2024	$36.90	$39.95	+8.27%
Apr 30, 2024	$35.82	$36.38	+1.56%
Feb 20, 2024	$41.65	$42.24	+1.42%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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