Caesars Entertainment (CZR) Tops Q3 EPS by 14c

Caesars Entertainment (NASDAQ: CZR) reported Q3 EPS of $0.14, $0.14 better than the analyst estimate of $0.00. Revenue for the quarter came in at $2.19 billion versus the consensus estimate of $2.21 billion.

Additional Development

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. The Board has informed Golden Nugget of its decision.

Consistent with its fiduciary duties, the Board continues to be open to reasonable alternatives to enhance long-term shareholder value.

For earnings history and earnings-related data on Caesars Entertainment (CZR) click here.

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