![]() Revenue from regional casinos outside of Las Vegasticked 1.7% higher at $4.42 billion. Revenue from Caesars’ Las Vegas casinos grew 7.9% to $3.38 billion. “Our Regional segment achieved an all-time quarterly Adjusted EBITDA record as we harvest the recent portfolio investments within this segment.”Īdjusted EBITDA came in at $3.01 billion, a 31.6% year-on-year increase. "We experienced Adjusted EBITDA growth year over year in all three of our primary operating segments including Las Vegas, Regional and Caesars Digital,” Caesars CEO Tom Reeg said. This resulted in earnings of 34 cents/share, well ahead of a projected 27 cents/share. Q3 revenue for Caesars (NASDAQ: CZR) hit $2.99 billion, ahead of a projected $2.94 billion and a 3.7% increase over last year. The company posted a record adjusted EBIDTA of $1.04 billion, with much of this success attributed to a new online casino launch, Caesars Palace Online, which went live in mid-August. ![]() In addition to announcing record earnings, the quarterly call gave the first indication that the company was nearing an agreement with workers who have been threatening to strike. Casino giant Caesars Entertainment on Tuesday reported higher profits than expected for Q3, confirming what labor union members seeking a new contract have been saying – that the company is seeing record numbers in its pandemic rebound.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |