Caesars Entertainment misses by $0.06, reports revs in-line
- Reports Q1 (Mar) loss of $0.05 per share, $0.06 worse thanthe single analyst estimate of $0.01; revenues rose 104.1% year/year to $1.97 bln vs the $1.96 bln Capital IQ Consensus. due to the inclusion of the results of CEOC, LLC, which emerged from bankruptcy in the fourth quarter of 2017. Adjusted EBITDAR improved $243 million, from $275 million to $518 million, due to the inclusion of the results of CEOC.
- Same-store net revenues declined 2.0%. Las Vegas RevPAR decreased $2 to $142. Las Vegas Cash ADR decreased $1 to $173
- Board of Directors has authorized the repurchase of up to $500 million of the company's outstanding common stock.
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