Caesars Entertainment reported year-over-year increases in revenues and net income and record adjusted earnings in the company’s third-quarter earnings release.
On Tuesday, Caesars announced net revenues of $3 billion versus $2.9 billion in the third quarter of 2022, net income of $74 million compared to $52 million a year ago, and adjusted EBITDA of $1.04 billion versus $1.01 billion in the prior year.
Caesars Digital’s adjusted EBITDA was $2 million during the third quarter compared to a loss of $38 million for the comparable prior-year period.
“During the third quarter of 2023, the company achieved an all-time consolidated adjusted EBITDA record,” said Caesars CEO Tom Reeg. “We experienced adjusted EBITDA growth year over year in all three of our primary operating segments, including Las Vegas, regional, and Caesars Digital. Our regional segment achieved an all-time quarterly adjusted EBITDA record, as we harvest the recent portfolio investments within this segment.”
Year to date, Caesars reported $8.7 billion in revenue, up from $8 billion for the first nine months of 2022.
Las Vegas, with a 4% increase in the third quarter, had $3.3 billion in revenue for the year, up from $3.13 billion, a 7.9% increase. Regional properties increased by 1.7% to $4.4 billion for the year.
Caesars Digital earned $669 million in revenue, up from $311 million during the first nine months of 2022.
