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Caesars Entertainment Q2 Earnings Miss Estimates, Decline Y/Y
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Key Takeaways
CZR reported a Q2 loss of 39 cents per share, missing estimates and down from break-even a year ago.
Las Vegas revenues fell 4.3% on lower gaming volumes and occupancy; adjusted EBITDA dropped to $469M.
Digital revenues rose 24.3% to $343M, while regional revenues gained 3.6% to $1.44B despite EBITDA pressure.
Caesars Entertainment, Inc. (CZR - Free Report) posted second-quarter 2025 results with earnings missing the Zacks Consensus Estimate but revenues surpassing the same. The top line increased year over year, while the bottom line declined from the prior-year quarter’s figure.
For the quarter, the company reported dismal Las Vegas performance due to a softer leisure travel environment and the absence of high-profile entertainment events. Same-store occupancy declined to 97% from 99% last year. Gaming volumes fell, particularly among high-end clientele. Management anticipates the headwinds to persist through the third quarter of 2025.
Following the results, the company’s shares fell 2.4% in yesterday’s after-hours trading session.
CZR’s Q2 Earnings & Revenue Discussion
For the quarter, the company recorded an adjusted loss per share of 39 cents, which missed the Zacks Consensus Estimate of earnings of 7 cents. It reported an adjusted break-even earnings per share in the prior-year quarter.
Caesars Entertainment, Inc. Price, Consensus and EPS Surprise
Net revenues of $2.9 billion beat the consensus mark of $2.88 billion by 1.1% and increased 2.7% year over year.
Q2 Segmental Performance of Caesars Entertainment
Las Vegas: Net revenues in this segment totaled $1.05 billion, down 4.3% from the $1.10 billion in the year-ago quarter. The segment’s adjusted EBITDA was $469 million, down from $514 million in the prior-year quarter.
Regional: The segment’s quarterly net revenues were $1.44 billion, up 3.6% year over year from $1.39 billion in the year-ago quarter. Adjusted EBITDA reached $439 million, down from $469 million in the prior-year quarter.
Caesars Digital: The segment’s net revenues were $343 million, up 24.3% year over year from $276 million. Adjusted EBITDA totaled $80 million, up from $40 million reported in the year-ago quarter.
Managed and Branded: Net revenues in this segment were $74 million, up 5.7% year over year from $68 million. The segment’s adjusted EBITDA was $17 million, flat year over year.
Corporate and Other: The segment’s net revenues were $1 million against negative $2 million reported a year ago. Adjusted EBITDA totaled negative $50 million compared with negative $40 million in the year-ago quarter.
Balance Sheet of CZR
As of June 30, 2025, Caesars Entertainment’s cash and cash equivalents were $982 million, up from $866 million as of Dec. 31, 2024.
Net debt, as of June 30, 2025, was $11.29 billion, slightly down from $11.43 billion as of Dec. 31, 2024.
CZR’s Zacks Rank & Key Picks
Caesars Entertainment currently has a Zacks Rank #5 (Strong Sell).
Carnival delivered a trailing four-quarter earnings surprise of 169.9%, on average. The stock has gained 19.2% in the year-to-date period. The Zacks Consensus Estimate for Carnival’s 2025 sales and EPS implies growth of 5.8% and 40.9%, respectively, from the year-ago levels.
Monarch Casino presently flaunts a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 11.1%, on average. The stock has rallied 30.4% in the year-to-date period.
The Zacks Consensus Estimate for Monarch Casino’s 2025 sales and EPS indicates an increase of 4.5% and 9.9%, respectively, from the year-ago levels.
Planet Fitness currently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of 6.9%, on average. The stock has gained 11.7% in the year-to-date period.
The Zacks Consensus Estimate for Planet Fitness’ 2025 sales and EPS indicates growth of 10.5% and 12.4%, respectively, from the year-ago period’s levels.
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Caesars Entertainment Q2 Earnings Miss Estimates, Decline Y/Y
Key Takeaways
Caesars Entertainment, Inc. (CZR - Free Report) posted second-quarter 2025 results with earnings missing the Zacks Consensus Estimate but revenues surpassing the same. The top line increased year over year, while the bottom line declined from the prior-year quarter’s figure.
For the quarter, the company reported dismal Las Vegas performance due to a softer leisure travel environment and the absence of high-profile entertainment events. Same-store occupancy declined to 97% from 99% last year. Gaming volumes fell, particularly among high-end clientele. Management anticipates the headwinds to persist through the third quarter of 2025.
Following the results, the company’s shares fell 2.4% in yesterday’s after-hours trading session.
CZR’s Q2 Earnings & Revenue Discussion
For the quarter, the company recorded an adjusted loss per share of 39 cents, which missed the Zacks Consensus Estimate of earnings of 7 cents. It reported an adjusted break-even earnings per share in the prior-year quarter.
Caesars Entertainment, Inc. Price, Consensus and EPS Surprise
Caesars Entertainment, Inc. price-consensus-eps-surprise-chart | Caesars Entertainment, Inc. Quote
Net revenues of $2.9 billion beat the consensus mark of $2.88 billion by 1.1% and increased 2.7% year over year.
Q2 Segmental Performance of Caesars Entertainment
Las Vegas: Net revenues in this segment totaled $1.05 billion, down 4.3% from the $1.10 billion in the year-ago quarter. The segment’s adjusted EBITDA was $469 million, down from $514 million in the prior-year quarter.
Regional: The segment’s quarterly net revenues were $1.44 billion, up 3.6% year over year from $1.39 billion in the year-ago quarter. Adjusted EBITDA reached $439 million, down from $469 million in the prior-year quarter.
Caesars Digital: The segment’s net revenues were $343 million, up 24.3% year over year from $276 million. Adjusted EBITDA totaled $80 million, up from $40 million reported in the year-ago quarter.
Managed and Branded: Net revenues in this segment were $74 million, up 5.7% year over year from $68 million. The segment’s adjusted EBITDA was $17 million, flat year over year.
Corporate and Other: The segment’s net revenues were $1 million against negative $2 million reported a year ago. Adjusted EBITDA totaled negative $50 million compared with negative $40 million in the year-ago quarter.
Balance Sheet of CZR
As of June 30, 2025, Caesars Entertainment’s cash and cash equivalents were $982 million, up from $866 million as of Dec. 31, 2024.
Net debt, as of June 30, 2025, was $11.29 billion, slightly down from $11.43 billion as of Dec. 31, 2024.
CZR’s Zacks Rank & Key Picks
Caesars Entertainment currently has a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks from the Zacks Consumer-Discretionary sector are Carnival Corporation & plc (CCL - Free Report) , Monarch Casino & Resort, Inc. (MCRI - Free Report) and Planet Fitness, Inc. (PLNT - Free Report) .
Carnival presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Carnival delivered a trailing four-quarter earnings surprise of 169.9%, on average. The stock has gained 19.2% in the year-to-date period. The Zacks Consensus Estimate for Carnival’s 2025 sales and EPS implies growth of 5.8% and 40.9%, respectively, from the year-ago levels.
Monarch Casino presently flaunts a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 11.1%, on average. The stock has rallied 30.4% in the year-to-date period.
The Zacks Consensus Estimate for Monarch Casino’s 2025 sales and EPS indicates an increase of 4.5% and 9.9%, respectively, from the year-ago levels.
Planet Fitness currently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of 6.9%, on average. The stock has gained 11.7% in the year-to-date period.
The Zacks Consensus Estimate for Planet Fitness’ 2025 sales and EPS indicates growth of 10.5% and 12.4%, respectively, from the year-ago period’s levels.