Caesars Entertainment’s online arm delivered another quarter of growth in the three months to 30 September 2026, with Caesars Digital net revenue up 4.8% year on year to $326m and segment earnings also higher, helping lift group revenue 2.5% to $2.94bn. The figures were set out in the operator’s official third-quarter results, as reported by CasinoBeats on 28 October 2026.
The digital unit’s momentum is clearer over a longer run. Across the first nine months of 2026, Caesars Digital adjusted EBITDA rose 19.9% to $181m, outpacing the growth rate of the wider group, CasinoBeats reported.
That performance was not enough to hold the consolidated line. Group adjusted EBITDA slipped to $865m from $884m a year earlier, according to the same report, and Caesars reported a quarterly loss of 61 cents a share — against analysts’ expectations, as cited by CasinoBeats, of an 8-cent profit on revenue of $2.96bn.
Las Vegas softens, regional portfolio keeps growing
Las Vegas net revenue fell 2.3% to $930m from $952m, with segment earnings declining by a larger percentage than revenue, the results showed as reported by CasinoBeats.
The regional portfolio moved in the opposite direction, with net revenue up 5.9% to $1,627m and regional adjusted EBITDA up 3.6% to $524m from $506m, according to the report.
Elsewhere, Managed and Branded revenue dropped 20.5% to $58m, CasinoBeats reported. The Corporate and Other adjusted EBITDA loss widened to $63m from $47m, while general and administrative expense increased to $517m from $483m.
On a nine-month basis, group net revenue was 2.7% higher at $8,803m, while consolidated adjusted EBITDA was down 1.9% at $2,672m, per the results as reported.
Analysts question digital share
Despite the digital unit’s earnings growth, Citizens analysts say Caesars Digital is losing market share in both sports betting and online casino. As one assessment of the quarter carried by CasinoBeats put it: “No Caesars earnings call as it heads private with Fertitta, but an underwhelming Q3. Net loss more than doubled, EBITDA dipped, revenue flat. Caesars Digital EBITDA surged, but Citizens analysts say it is losing market share in both sports and casino.”
No earnings call as Fertitta deal advances
Caesars did not hold an earnings call for the quarter as it moves towards going private, CasinoBeats reported. Fertitta Entertainment has agreed to buy the operator in an all-cash deal valued at about $17.6bn, a price that includes assuming Caesars debt, according to the same report.
CasinoBeats reported that shareholders approved the $31-a-share cash merger at a special meeting on 22 September 2026, with 133,313,001 votes in favour — about 65.4% of outstanding shares — and 4,276,986 against. The transaction is due to close by 26 June 2027, after which shareholders receive an additional $0.007150 per share for each day of delay.
As at 30 September 2026, Caesars had debt outstanding of $11.7bn and cash and cash equivalents of $864m, excluding $113m of restricted cash, the results showed.
Context and comparisons
The Las Vegas slide contrasts with the picture earlier in the year. In the first quarter of 2026, Las Vegas hotel occupancy stood at 95.3% with growth in average daily rate, and chief executive Tom Reeg said at the time that trends in the city were improving quarter on quarter.
Caesars’ current digital footprint reflects strategic choices made several years ago. In 2021 the company agreed to sell William Hill’s non-US assets to 888 Holdings for about £2.2bn, retaining the US business.
A further read on the US market was due from a rival operator in the same reporting window: MGM Resorts International was scheduled to report its third-quarter 2026 results after the US market closed on Wednesday 28 October 2026, with a conference call at 5pm Eastern Time.
This article was produced with AI assistance and reviewed under the GamblingZine editorial verification process.
Sources
- Caesars Q3: Las Vegas earnings slide while regional and digital units keep growing — Authoritative secondary source (published 2026-10-28)
- casinobeats.com — Authoritative secondary source
- casinobeats.com — Authoritative secondary source
- casinobeats.com — Authoritative secondary source
Reporting verified against the sources above; retrieval timestamps are preserved in the editorial record.