Caesars Entertainment, Inc. — Third Quarter 2026 Earnings Summary

Financial Performance:

• GAAP net revenues were $2.94 billion for the three months ended September 30, 2026, a 2.5% increase from $2.87 billion in the prior-year period; for the nine months ended September 30, 2026, revenues were $8.80 billion, up 2.7% from $8.57 billion.
• GAAP net loss attributable to Caesars was $123 million for the third quarter of 2026, compared to a net loss of $55 million in the prior-year period; for the nine months, the net loss was $283 million versus $252 million in the prior-year period.
• Consolidated Adjusted EBITDA was $865 million for the third quarter of 2026, a 2.1% decrease from $884 million in the prior-year period; for the nine months, Adjusted EBITDA was $2.67 billion, down 1.9% from $2.72 billion.
• Basic and diluted net loss per share was $0.61 for the third quarter of 2026, compared to $0.27 in the prior-year period; for the nine months, loss per share was $1.39 versus $1.20.
• Total outstanding indebtedness was $11.66 billion as of September 30, 2026, down from $11.91 billion as of December 31, 2025.
• Cash and cash equivalents were $864 million as of September 30, 2026, compared to $887 million at the end of 2025.
• Net debt (total indebtedness less cash) was $10.80 billion as of September 30, 2026, compared to $11.02 billion at the end of 2025.

Business Segments and Product Lines:

• Las Vegas segment net revenues were $930 million for the quarter (down 2.3% year-over-year) and $2.95 billion for the nine months (down 2.0%); Adjusted EBITDA was $343 million (down 9.5%) and $1.18 billion (down 8.0%) respectively.
• Regional segment net revenues were $1.63 billion for the quarter (up 5.9% year-over-year) and $4.63 billion for the nine months (up 6.1%); Adjusted EBITDA was $524 million (up 3.6%) and $1.45 billion (up 4.5%) respectively.
• Caesars Digital segment net revenues were $326 million for the quarter (up 4.8% year-over-year) and $1.05 billion for the nine months (up 6.3%); Adjusted EBITDA was $44 million (up 57.1%) and $181 million (up 19.9%) respectively.
• Managed and Branded segment net revenues were $58 million for the quarter (down 20.5% year-over-year) and $181 million for the nine months (down 15.4%); Adjusted EBITDA was $17 million (down 5.6%) and $46 million (down 9.8%) respectively.
• Corporate and Other segment net revenues were $(1) million for the quarter and $(6) million for the nine months; Adjusted EBITDA was $(63) million for the quarter and $(181) million for the nine months.

Other Key Points:

• Caesars Entertainment has a pending definitive agreement to be acquired by Fertitta Entertainment, Inc., announced on May 28, 2026.
• Upon completion of the transaction, Caesars' common stock will no longer be listed on NASDAQ, and the Company will become a private entity.
• Due to the pending acquisition, the Company will not host a quarterly conference call.
• Available revolver capacity was $2.95 billion as of September 30, 2026, including $2.25 billion from the CEI Revolving Credit Facility and $25 million from the CVA Revolving Credit Facility, net of commitments for letters of credit, specific reserves, and regulatory requirements.
• The Company operates primarily under the Caesars, Harrah's, Horseshoe, and Eldorado brand names.