Caesars Entertainment, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 02, 2021 at 04:01 pm EDT
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Caesars Entertainment, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 2,021 million compared to USD 1,181 million a year ago. Revenue was USD 2,685 million compared to USD 1,443 million a year ago. Net loss was USD 233 million compared to USD 926 million a year ago. Basic loss per share from continuing operations was USD 1.08. Diluted loss per share from continuing operations was USD 1.08. Basic loss per share was USD 1.1 compared to USD 6.09 a year ago. Diluted loss per share was USD 1.1 compared to USD 6.09 a year ago.
For the nine months, sales was USD 5,430 million compared to USD 1,679 million a year ago. Revenue was USD 6,979 million compared to USD 2,043 million a year ago. Net loss was USD 585 million compared to USD 1,202 million a year ago. Basic loss per share from continuing operations was USD 2.6 compared to USD 11.49 a year ago. Diluted loss per share from continuing operations was USD 2.6 compared to USD 11.49 a year ago. Basic loss per share was USD 2.78 compared to USD 11.56 a year ago. Diluted loss per share was USD 2.78 compared to USD 11.56 a year ago.
Caesars Entertainment, Inc. specializes in the holding and operation of gaming establishments and hotel complexes. At the end of 2023, the group operated 52 establishments under the Caesars Palace, Harrah's, Horseshoe, Eldorado, Silver Legacy, Circus Circus Reno, Tropicana, Paris Las Vegas, Planet Hollywood Resort & Casino, The Cromwell, Grand Victoria Casino and Isle Casino brands. Net sales break down by activity as follows:
- casino operations (55.4%): approximately 51,300 slot machines and video lottery terminals and approximately 2,700 gaming tables operated at the end of 2023. The group is also developing a sports betting and online gambling operating activity;
- hotel operations (18.1%): 44,700 rooms;
- operation of restaurants, bars and lounges (14.8%);
- other (11.7%): including the operation of nightclubs, entertainment establishments, stores and conference rooms.