Caesars Entertainment, Inc. ( CZR ) shares traded lower in Tuesday’s extended session after the casino operator missed earnings and revenue estimates in the third quarter.
Here's a look at the key figures from the quarter.
CZR stock is down. See the real-time price action here.
The Details: Caesars Entertainment reported quarterly losses of 27 cents per share. It missed the analyst estimate for earnings of one cent.
Quarterly revenue came in at $2.86 billion, missing the Street estimate of $2.89 billion.
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“Our regional portfolio delivered net revenues and Adjusted EBITDA growth as a result of consistent operating trends and continued positive returns from our capital projects. Our Las Vegas segment Adjusted EBITDA declined during the quarter due to lower city-wide visitation and poor table games hold,” Tom Reeg, CEO of Caesars Entertainment ( CZR ), commented.
“Volumes in our Caesars Digital segment were strong, driven by continued product improvements while Adjusted EBITDA was negatively impacted by lower-than-expected sports hold during September,” Reeg added.
CZR Stock Price: According to Benzinga Pro, Caesars Entertainment ( CZR ) stock fell 11.09% to $19.65 in Tuesday's extended trading.
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