Caesars Widens Loss in Third Quarter

Caesars Entertainment reported that its net loss for the third quarter of 2026 widened compared with the same period last year. The company's total net revenue came in at about $2.9 billion, nearly unchanged from last year. Net loss attributable to Caesars rose from $55 million to $123 million.

Adjusted EBITDA fell from $884 million to $865 million. Loss per share was $0.61. Analysts had expected earnings of $0.08 per share and revenue of $2.96 billion.

The company is awaiting its acquisition by Fertitta Entertainment in a $17.6 billion deal. Shareholders approved the transaction on September 22, and closing is expected around June 26, 2027. Once completed, Caesars will become a wholly owned subsidiary of Fertitta Gaming and will be delisted from Nasdaq.

The digital segment recorded the strongest year-over-year EBITDA growth among the company's divisions. Digital revenue was reported at roughly $320 to $326 million, an increase of about 4.8 percent. Even so, the segment's net loss for the first nine months of 2026 grew to $53 million, compared with $18 million in the same period last year.

Independent market data suggests Caesars lost share in the US online sports betting and online casino markets. Its estimated sports betting handle share fell from 5.2 percent to 4.9 percent, and its sports gross gaming revenue share fell from 4.1 percent to 3.6 percent. Its online casino share declined from 7.1 percent to 6.4 percent over the same period.