Nine sportsbook operators have applied to the Missouri Gaming Commission ahead of the state’s September 12 deadline, all aiming to launch mobile betting on December 1.
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Caesars Entertainment reports $55M net loss for the Q3
Caesars Entertainment reported a $55 million net loss for the Q3 2025, pointing to weak performance in its Las Vegas operations, driven by fewer visitors and poor results at table games.
For the total quarter, Caesars reported $2.86 billion in revenue, nearly the same as it reported the previous year. Adjusted EBITDA fell 11% to $884 million, with the Las Vegas division seeing the largest drop, down nearly 19% to $379 million.
Caesars CEO Tom Reeg said:
“Our regional portfolio delivered net revenues and adjusted EBITDA growth as a result of consistent operating trends and continued positive returns from our capital projects. Our Las Vegas segment’s adjusted EBITDA declined during the quarter due to lower city-wide visitation and poor table games hold. Volumes in our Caesars Digital segment were strong, driven by continued product improvements, while adjusted EBITDA was negatively impacted by lower-than-expected sports hold during September.”
Despite the negative Q3, Reeg expects a stronger Q4 for the company. For the first nine months of 2025, Caesars earned $8.57 billion in revenue and cut debt to $11.9 billion, and continued share buybacks, repurchasing 3.9 million shares for $100 million during the quarter.
Year-to-date adjusted EBITDA totaled $2.72 billion, down 4.2% from 2024. Despite current challenges, Caesars says it remains focused on reducing debt and returning cash to shareholders.
Starting September 1, Caesars Sportsbook will charge Illinois bettors an extra 25 cents for every online wager, applying the change to all online cash bets.Bets made with...
