Caesars continues experiencing growth in Q3 2023
Caesars Entertainment has recently published its latest financial performance report covering the third quarter of the year.
The report started off with the company’s revenue, which reached 3 billion dollars in the quarter, increasing slightly from last year’s revenue of 2.9 billion dollars. This led to an adjusted EBITDA figure of 1.04 billion dollars for the firm, up from 1.01 billion dollars recorded in the third quarter of last year. Caesars’ net income, on the other hand, experienced a larger increase, going from 52 million dollars to 74 million dollars in the quarter.
The company also reported its performance in the first nine months of the year, with its revenue growing by almost 9% from 8 billion to 8.7 billion dollars in the period. Caesars’ adjusted EBITDA grew by 31% from 2.28 billion to 3 billion dollars, while its net income increased by an even wider margin from last year’s loss of 751 million dollars to 858 million dollars.
Broken down by the company’s operating segments, its operations outside of Las Vegas generated 1.5 billion dollars in revenue in the third quarter, growing by just over 2% year-over-year. The firm’s Las Vegas operations and online subsidiary were up next, generating 1.1 billion dollars and 215 million dollars respectively.