Caesars Entertainment Q2 revenue slightly beats estimates on regional growth

Overview

• US casino-entertainment firm's Q2 revenue rose 3%, slightly beating analyst expectations

• Q2 net loss narrowed to $62 mln from $82 mln a year earlier

• Adjusted EBITDA fell 3.7% yr/yr, with declines in Las Vegas and digital segments

Outlook

• Company did not provide specific guidance or forecasts for future quarters or full yr

Result Drivers

• LAS VEGAS WEAKNESS - Las Vegas segment revenue fell 3.5% and Adjusted EBITDA dropped 12.6% yr/yr

• REGIONAL GROWTH - Regional segment revenue rose 9.4% and Adjusted EBITDA increased 11.2% yr/yr

• DIGITAL SLOWDOWN - Caesars Digital Adjusted EBITDA declined 15% yr/yr

Company press release: ID:nBw5KGsfpa

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 14 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the casinos gaming peer group is "buy."

• Wall Street's median 12-month price target for Caesars Entertainment Inc is $31.00, about 3.4% above its July 27 closing price of $29.97

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)