Caesars Entertainment (CZR) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Caesars Entertainment published the results on October 27, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Caesars agreed on May 27, 2026 to be acquired by Fertitta Entertainment for $31.00 a share in cash, and stockholders approved the merger on September 22, 2026. Because of the pending deal, Caesars held no conference call for Q3 2026 and gave no outlook.
• Caesars took over operation of Caesars Windsor on March 3, 2026 under a 20-year operating agreement with the Ontario Lottery and Gaming Corporation, so its revenue is consolidated in the Regional segment from that date. It was a managed property before.

Source: Caesars Entertainment Q3 2026 results, October 27, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Caesars Entertainment splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Caesars Entertainment's Las Vegas revenue was $930 million in Q3 2026, down 2% from $952 million in Q3 2025, 32% of total revenue.
• Caesars Entertainment's Regional revenue was $1.6 billion in Q3 2026, up 6% from $1.5 billion in Q3 2025, 55% of total revenue.
• Caesars Entertainment's Caesars Digital revenue was $326 million in Q3 2026, up 5% from $311 million in Q3 2025, 11% of total revenue.
• Caesars Entertainment's Managed and Branded revenue was $58.0 million in Q3 2026, down 21% from $73.0 million in Q3 2025, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net revenues and diluted loss per share, each as first reported in that quarter's release. Caesars reports Adjusted EBITDA but no adjusted EPS.

We do not hold a confirmed date for Caesars Entertainment's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 27, 2026

Caesars Entertainment reported net revenues of $2,940 million in Q3 2026, up 2.5% from $2,869 million. By segment, Regional brought in $1,627 million, Las Vegas $930 million, Caesars Digital $326 million and Managed and Branded $58 million. By type, casino revenue was $1,754 million, hotel $467 million, food and beverage $410 million and other $309 million. (Caesars Entertainment Q3 2026 release, Oct 27, 2026)

Caesars Entertainment's Las Vegas net revenues fell 2.3% to $930 million. The 10-Q puts this down to fewer city-wide convention events and lower leisure visitation, which cut hotel occupancy to 89.1% from 91.6% and compressed room rates. Las Vegas hotel revenue fell to $263 million from $290 million and food and beverage to $236 million from $270 million, while casino revenue rose to $287 million from $260 million on a table games hold of 21.6%, against 17.4% a year earlier. (Caesars Entertainment Form 10-Q, Q3 2026, Oct 27, 2026)

Regional net revenues rose 5.9% to $1,627 million. Caesars attributes the gain to consolidating Caesars Windsor from March 3, 2026 and to recent capital investments in Lake Tahoe and New Orleans. Regional slot handle was $12,045 million, up 5.9%, and the segment's Adjusted EBITDA margin slipped to 32.2% from 32.9% because of higher labor costs and gaming taxes. (Caesars Entertainment Form 10-Q, Q3 2026, Oct 27, 2026; Caesars Entertainment Q3 2026 release, Oct 27, 2026)

Caesars Digital, which runs the Caesars Sportsbook app and the Caesars Palace Online and Horseshoe Online casino apps, grew net revenues 4.8% to $326 million. iGaming handle was $4,832 million with a hold of 4.0%, and sports betting handle was $2,505 million with a hold of 7.9%. Digital casino revenue is recorded after promotional and complimentary incentives, which totalled $85 million in the quarter against $78 million a year earlier. (Caesars Entertainment Form 10-Q, Q3 2026, Oct 27, 2026)

At the end of 2025 Caesars owned, leased or managed 52 domestic properties in 18 states, with about 51,400 slot machines, video lottery terminals and e-tables, 2,700 table games and 45,600 hotel rooms. It conducted sports wagering in 34 North American jurisdictions, 27 of them with online sports betting, and iGaming in five. (Caesars Entertainment Form 10-K, 2025, Feb 17, 2026)

Caesars Entertainment lost $0.61 a diluted share in Q3 2026, against a loss of $0.27 a year earlier, on a net loss attributable to Caesars of $123 million. Operating income was $457 million, but net interest expense of $570 million turned that into a pre-tax loss of $117 million. Caesars does not report an adjusted EPS figure. (Caesars Entertainment Q3 2026 release, Oct 27, 2026)

Caesars' main non-GAAP measure is Adjusted EBITDA, which was $865 million, down from $884 million. It adds back interest, taxes, $366 million of depreciation and amortization, $23 million of stock-based compensation and $19 million of transaction costs and other items. Caesars Digital Adjusted EBITDA rose to $44 million from $28 million while Las Vegas fell to $343 million from $379 million. (Caesars Entertainment Q3 2026 release, Oct 27, 2026)

Weighted average diluted shares were 204 million, against 207 million a year earlier. Caesars bought back no shares in the first nine months of 2026, after repurchasing 7 million shares for $179 million in the same period of 2025. The quarter's income tax benefit of $10 million was smaller than the 21% federal rate would imply because of higher valuation allowances against deferred tax assets for excess business interest expense. (Caesars Entertainment Q3 2026 release, Oct 27, 2026; Caesars Entertainment Form 10-Q, Q3 2026, Oct 27, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Caesars Entertainment's Q3 2026 release gives no outlook and Caesars held no conference call, citing its pending agreement to be acquired by Fertitta Entertainment, announced on May 28, 2026. On completion Caesars stock will be delisted from NASDAQ and the company will become private. (Caesars Entertainment Q3 2026 release, Oct 27, 2026)

Under the merger agreement each share converts into $31.00 in cash, plus a ticking fee of $0.007150 a share per day if the deal has not closed by June 26, 2027. Stockholders approved the merger on September 22, 2026. Closing still requires the HSR waiting period to end and gaming regulatory approvals, and either side can terminate if it has not closed by May 27, 2027, a date that can be extended to August 27, 2027. (Caesars Entertainment Form 10-Q, Q3 2026, Oct 27, 2026)

A consensus figure is the average of the models published by the analysts who cover Caesars Entertainment, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Caesars Entertainment's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CZR is on is CZR a buy or a sell?, what analysts expect next is on the CZR forecast, and what the company does is on the Caesars Entertainment (CZR) stock page.

Every number on this page can be traced to a document Caesars Entertainment published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.