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Why Is Caesars Entertainment (CZR) Up 22.5% Since Last Earnings Report?
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A month has gone by since the last earnings report for Caesars Entertainment (CZR - Free Report) . Shares have added about 22.5% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Caesars Entertainment due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.
Caesars Entertainment Q3 Earnings & Revenues Miss Estimates
Caesars Entertainment reported third-quarter 2025 results, with both earnings and revenues missing the Zacks Consensus Estimate. Additionally, both the top and bottom lines declined year over year.
The company recorded soft performance across most other segments and faced several headwinds during the quarter — including incremental state taxes, higher acquisition marketing spend and increased bad debt. Despite these challenges, management remains optimistic about sequential improvement, noting that September delivered the strongest results of the quarter.
CZR’s Q3 Earnings & Revenue Discussion
CZR’s Las Vegas operations delivered comparatively better results versus recent quarters, supported by resilient leisure trends and a robust group and convention calendar. Management anticipates further improvement in Las Vegas operating trends in the upcoming quarter. Regional revenues also rose year over year, driven by strong returns from Danville and New Orleans, along with same-store net revenue growth supported by continued strategic reinvestment in the Caesars Rewards customer base.
For the quarter, the company recorded an adjusted loss per share of 27 cents, which was wider than the Zacks Consensus Estimate of an adjusted loss of 11 cents by 145.5%. It reported an adjusted loss of 4 cents per share in the prior-year quarter.
Net revenues of $2.87 billion missed the consensus mark of $2.89 billion by 0.7% and decreased 0.2% year over year.
Q3 Segmental Performance of Caesars Entertainment
Las Vegas: Net revenues in this segment totaled $952 million, down 10.4% from the $1.06 billion in the year-ago quarter. The segment’s adjusted EBITDA was $379 million, down from $472 million in the prior-year quarter.
Regional: The segment’s quarterly net revenues were $1.54 billion, up 6.2% year over year from $1.45 billion in the year-ago quarter. Adjusted EBITDA reached $506 million, up from $498 million in the prior-year quarter.
Caesars Digital: The segment’s net revenues were $311 million, up 2.6% year over year from $303 million. Adjusted EBITDA totaled $28 million, down from $52 million reported in the year-ago quarter.
Managed and Branded: Net revenues in this segment were $73 million, up 7.4% year over year from $68 million. The segment’s adjusted EBITDA was $18 million, down from $19 million reported in the year-ago quarter.
Corporate and Other: The segment’s net revenues were negative $3 million against negative $5 million reported a year ago. Adjusted EBITDA totaled negative $47 million compared with negative $40 million in the year-ago quarter.
Balance Sheet of CZR
As of Sept. 30, 2025, Caesars Entertainment’s cash and cash equivalents were $836 million, down from $866 million as of Dec. 31, 2024.
Net debt, as of Sept. 30, 2025, was $11.09 billion, down from $11.43 billion as of Dec. 31, 2024.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -345.43% due to these changes.
VGM Scores
At this time, Caesars Entertainment has a poor Growth Score of F, a score with the same score on the momentum front. However, the stock has a grade of A on the value side, putting it in the top 20% for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Caesars Entertainment has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Why Is Caesars Entertainment (CZR) Up 22.5% Since Last Earnings Report?
A month has gone by since the last earnings report for Caesars Entertainment (CZR - Free Report) . Shares have added about 22.5% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Caesars Entertainment due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.
Caesars Entertainment Q3 Earnings & Revenues Miss Estimates
Caesars Entertainment reported third-quarter 2025 results, with both earnings and revenues missing the Zacks Consensus Estimate. Additionally, both the top and bottom lines declined year over year.
The company recorded soft performance across most other segments and faced several headwinds during the quarter — including incremental state taxes, higher acquisition marketing spend and increased bad debt. Despite these challenges, management remains optimistic about sequential improvement, noting that September delivered the strongest results of the quarter.
CZR’s Q3 Earnings & Revenue Discussion
CZR’s Las Vegas operations delivered comparatively better results versus recent quarters, supported by resilient leisure trends and a robust group and convention calendar. Management anticipates further improvement in Las Vegas operating trends in the upcoming quarter. Regional revenues also rose year over year, driven by strong returns from Danville and New Orleans, along with same-store net revenue growth supported by continued strategic reinvestment in the Caesars Rewards customer base.
For the quarter, the company recorded an adjusted loss per share of 27 cents, which was wider than the Zacks Consensus Estimate of an adjusted loss of 11 cents by 145.5%. It reported an adjusted loss of 4 cents per share in the prior-year quarter.
Net revenues of $2.87 billion missed the consensus mark of $2.89 billion by 0.7% and decreased 0.2% year over year.
Q3 Segmental Performance of Caesars Entertainment
Las Vegas: Net revenues in this segment totaled $952 million, down 10.4% from the $1.06 billion in the year-ago quarter. The segment’s adjusted EBITDA was $379 million, down from $472 million in the prior-year quarter.
Regional: The segment’s quarterly net revenues were $1.54 billion, up 6.2% year over year from $1.45 billion in the year-ago quarter. Adjusted EBITDA reached $506 million, up from $498 million in the prior-year quarter.
Caesars Digital: The segment’s net revenues were $311 million, up 2.6% year over year from $303 million. Adjusted EBITDA totaled $28 million, down from $52 million reported in the year-ago quarter.
Managed and Branded: Net revenues in this segment were $73 million, up 7.4% year over year from $68 million. The segment’s adjusted EBITDA was $18 million, down from $19 million reported in the year-ago quarter.
Corporate and Other: The segment’s net revenues were negative $3 million against negative $5 million reported a year ago. Adjusted EBITDA totaled negative $47 million compared with negative $40 million in the year-ago quarter.
Balance Sheet of CZR
As of Sept. 30, 2025, Caesars Entertainment’s cash and cash equivalents were $836 million, down from $866 million as of Dec. 31, 2024.
Net debt, as of Sept. 30, 2025, was $11.09 billion, down from $11.43 billion as of Dec. 31, 2024.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -345.43% due to these changes.
VGM Scores
At this time, Caesars Entertainment has a poor Growth Score of F, a score with the same score on the momentum front. However, the stock has a grade of A on the value side, putting it in the top 20% for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Caesars Entertainment has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.