Caesars Posts $250M Q4 Loss, Beats Revenue with Record $85M Digital EBITDA
Caesars Entertainment posted a $250 million GAAP net loss in Q4, or $1.23 per share, and an adjusted loss of $0.33, missing the $0.18 per share estimate while delivering $2.92 billion in revenue, a 1.8% beat. Same-store Adjusted EBITDA hit $901 million, led by record $85 million digital EBITDA, fueling a 3.8% stock rise.
1. Fourth Quarter Earnings
Caesars Entertainment logged a GAAP net loss of $250 million in the fourth quarter, or $1.23 per share. On an adjusted basis, the company reported a $0.33 per share loss, missing the consensus $0.18 per share estimate, while generating $2.92 billion in revenue.
2. Segment-Level EBITDA Performance
Fourth-quarter same-store Adjusted EBITDA rose 2.2% year-over-year to $901 million, driven by stable regional results and a sequential improvement in Las Vegas operations. The Caesars Digital segment set a new quarterly record with $85 million of adjusted EBITDA, up from $20 million a year earlier.
3. Share Price Reaction
Shares of Caesars Entertainment climbed approximately 3.8% in extended trading following the earnings release, reflecting investor enthusiasm for the revenue beat and digital growth despite the earnings miss.
4. 2026 Outlook
Management sees brick-and-mortar operations remaining stable in 2026 while expecting continued strength in the Caesars Digital segment. The company forecasts strong free cash flow from lower capital expenditures and interest expenses, plans to pay down debt and pursue opportunistic share repurchases.