Caesars achieves an all-time consolidated Adjusted EBITDA record in Q3

Caesars Entertainment, Inc., reported operating results for the third quarter ended on 30 September 2023.

Third Quarter 2023 and Recent Highlights:

GAAP net revenues of $3.0 billion versus $2.9 billion for the comparable prior-year period.

GAAP net income of $74 million compared to net income of $52 million for the comparable prior-year period.

Consolidated Adjusted EBITDA of $1.04 billion versus $1.01 billion for the comparable prior-year period.

Caesars Digital Adjusted EBITDA of $2 million versus $(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 Tom Reeg, Chief Executive Officer of Caesars Entertainment, Inc. “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.”

As of 30 September 2023, Caesars had $12.5 billion in aggregate principal amount of debt outstanding. Total cash and cash equivalents were $841 million, excluding restricted cash of $174 million.