We recently published 10 Stocks Plunging Fast; 5 Now at All-Time Lows. Caesars Entertainment, Inc. (NASDAQ:CZR) is one of the worst-performing stocks on Wednesday.
Caesars Entertainment nosedived to a new 52-week low on Wednesday, as investor sentiment was dampened by a dismal earnings performance in the third quarter of the year.
At intra-day trading, Caesars Entertainment, Inc. (NASDAQ:CZR) fell to its lowest price of $18.64 before paring losses to end the day just down by 15.23 percent at $18.73 apiece.
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This followed a 511 percent wider net loss attributable to the company in the third quarter at $55 million versus $9 million in the same period last year.
Net revenues, on the other hand, finished flat at $2.87 billion, compared to the same period last year.
“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 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,” said Caesars Entertainment, Inc. (NASDAQ:CZR) Chief Executive Officer Tom Reeg.
“As we look to the fourth quarter, we anticipate improved operating performance given stronger occupancy in Las Vegas, continued momentum in our Caesars Digital segment and stable operating trends in our regional portfolio,” he added.
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Disclosure: None. This article is originally published at Insider Monkey.
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‘ Some details of this article were extracted from the following source finance.yahoo.com ’
