Caesars Entertainment presents its Third Quarter 2022 Results

Company published latest CSR report on October 10, 2022, highlighting ESG achievements and progress toward long-term targests over the past year. Tom Reeg, Chief Executive Officer of Caesars Entertainment commented: "Our third quarter results reflect a new quarterly record for consolidated adjusted EBITDA. Results in the quarter also reflect a new quarterly record for our brick and mortar properties led by a new all-time high third quarter EBITDA performance in our regional segment and continued strength in Las Vegas. Caesars Digital reported strong revenue growth in the quarter and a smaller than expected EBITDA loss driven by improved operating efficiencies."

As of September 30, 2022, Caesars had 13.3 billion dollars in aggregate principal amount of debt outstanding. Total cash and cash equivalents were 944 millions dollars, excluding restricted cash of 297 millions dollars. 

"We continued to reduce debt during the quarter using net asset sale proceeds and free cash flow totaling 880 million dollars. In early October, we successfully upsized our pro rata bank facilities to 3 billion dollars, including a new 750 million dollars term Loan A and a 2.25 billions dollars Revolving Credit Facility that mature in 2028", said Bret Yunker, Chief Financial Officer.