Caesars Entertainment's Las Vegas operations saw revenue decline 2.3% to $930 million in the third quarter, while adjusted earnings before interest, taxes, depreciation and amortization fell 9.5% to $343 million. The Reno-based company attributed the drops to fewer citywide convention events and lower leisure visitation, which reduced nongaming revenue and compressed hotel rates and occupancy.
Hotel occupancy in the Las Vegas segment fell to 89.1% from 91.6% a year earlier. Hotel revenue declined 9.3% to $263 million, and food and beverage revenue dropped 12.6% to $236 million. However, casino revenue increased 10.4% to $287 million, with table games drop rising 8.1% to $711 million and hold percentage improving to 21.6% from 17.4%.
The company's regional casino operations generated $1.63 billion in revenue, up 5.9%, with adjusted EBITDA rising 3.6% to $524 million. Caesars Digital also improved, with revenue up 4.8% to $326 million and adjusted EBITDA increasing to $44 million from $28 million.
Companywide revenue rose 2.5% to $2.94 billion, though net loss attributable to Caesars widened to $123 million from $55 million a year earlier. Total adjusted EBITDA declined 2.1% to $865 million. Outstanding debt stood at $11.66 billion as of Sept. 30, down from $11.91 billion at the end of 2025.
Caesars did not hold an earnings call due to its pending $17.6 billion merger with Fertitta Entertainment, which shareholders approved in September. If completed, the deal would take Caesars private and end its Nasdaq listing and public reporting requirements. The transaction still requires regulatory approval.
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
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