What's Going On With Caesars Entertainment Stock?

Caesars Entertainment Inc CZR shares are trading slightly higher in Tuesday's after-hours session on the heels of the company's third-quarter financial results. 

• Q3 Revenue: $2.994 billion beat estimates of $2.932 billion
• Q3 EPS: 34 cents beat estimates of 29 cents

Las Vegas revenues were $1.12 billion, up 4% year-over-year. Regional revenues totaled $1.565 billion, up 2.3% year-over-year. Caesars Digital revenues were $215 million, up 1.4% year-over-year.

"During the third quarter of 2023, the company achieved an all-time consolidated Adjusted EBITDA record. 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," said Tom Reeg, CEO of Caesars. 

Caesars said it ended the quarter with $841 million in cash and equivalents, which excludes restricted cash of $174 million. As of Sept. 30, Caesars had $12.5 billion in aggregate principal debt outstanding. 

Management will hold a conference call to discuss these results at 5 p.m. ET. 

See Also: James Harden Traded To Los Angeles Clippers: How Are The NBA Championship Odds Impacted?

CZR Price Action: Caesars shares were up 0.78% after hours at $40.20 at the time of writing, according to Benzinga Pro.

Photo: WikimediaImages from Pixabay.