=Caesars Entertainment (CZR) reported earnings on Thur 1 Nov 2018 (b/o)

Caesars Entertainment beats by $0.21, misses on revs

Reports Q3 (Sep) earnings of $0.16 per share, $0.21 better thanthe S&P Capital IQ Consensus of ($0.05); revenues rose 120.0% year/year to $2.19 bln vs the $2.21 bln S&P Capital IQ Consensus.

Enterprise-wide net revenues increased 2.9%, or $62 million, from $2.12 billion to $2.19 billion. Enterprise-wide hold adjusted net revenues increased 2.2%, or $48 million, from $2.16 billion to $2.21 billion.

Recently, the Company received a letter from Golden Nugget, LLC proposing that Caesars acquire substantially all of Golden Nugget's restaurant, hospitality, entertainment and gaming businesses in exchange for a significant minority of Caesars' common shares.

• The Board considered the proposal, in consultation with its legal and financial advisors, and determined that it is not consistent with the Company's plans to create and enhance shareholder value over the long term.