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Caesars Entertainment(CZR) - 2024 Q1 - Earnings Call Transcript
2024-05-01 09:08
财务数据和关键指标变化 - 第一季度合并净收入27亿美元,同比下降1% [7] - 总调整后EBITDAR为8.53亿美元,同比下降10% [7] 各条业务线数据和关键指标变化 - 拉斯维加斯分部第一季度调整后EBITDAR为4.4亿美元,创下第一季度历史第二好成绩 [8] - 拉斯维加斯分部第一季度入住率创下97.6%的新纪录,现金酒店和餐饮收入也创下第一季度新高 [8] - 地区分部第一季度调整后EBITDAR为4.33亿美元,同比下降3%,主要受到不利天气影响 [9] - 数字分部第一季度净收入为2.82亿美元,同比增长19%,调整后EBITDA为500万美元 [12][13] - 数字分部在线体育博彩和在线赌场业务均实现强劲增长,分别同比增长23%和54% [12][13] 各个市场数据和关键指标变化 - 拉斯维加斯分部第一季度桌游赌注下降10%,老虎机赌注下降7%,主要受到去年里约酒店的影响 [59][60] - 地区分部第一季度1月收入同比下降超过20%,2月下降约4%,3月增长约10% [32] 公司战略和发展方向及行业竞争 - 公司将在2024年完成几个重大建设项目,包括内布拉斯加州哥伦布市、路易斯安那州新奥尔良和弗吉尼亚州丹维尔的永久性设施,预计将带来强劲的资本回报 [10] - 公司正在努力提高数字业务的盈利能力,包括提升体育博彩的赔率水平、完善同赛事单式过关等功能,并计划在2024年下半年推出新的在线赌场品牌 [14][15][16] - 公司预计数字业务2025年收入将达到17亿美元,EBITDA将超过4亿美元,这还不包括一些合作关系到期后的额外收益 [38][39] 管理层对经营环境和未来前景的评论 - 公司CEO表示,第一季度出现了多个一次性负面因素,包括拉斯维加斯的低桌游赌注收益率、地区分部受到恶劣天气影响以及北卡罗来纳州体育博彩业务的亏损,但公司基本面并未发生根本性变化 [24][25][26][27][28][29][30][31][32][33][34][35][36][37] - 管理层对拉斯维加斯和地区分部的未来前景保持乐观,预计未来几个季度业绩将持续改善 [27][28][29][30][31][32] - 管理层对数字业务的发展前景也非常乐观,预计未来几年收入和利润将保持高速增长 [38][39][40][41][42][43] 问答环节重要的提问和回答 问题1 **Carlo Santarelli 提问** 询问拉斯维加斯分部现金房价和优惠房价的占比变化情况 [49][50][51][52][53][54][55][56] **Tom Reeg 回答** 现金房价占比约75%,与之前相比没有太大变化 [52] 问题2 **Joe Greff 提问** 询问剔除里约酒店影响后,拉斯维加斯分部老虎机赌注和桌游赌注的具体变化情况 [59][60] **Tom Reeg 回答** 剔除里约酒店影响后,老虎机赌注下降2%,桌游赌注下降7% [60] 问题3 **Brandt Montour 提问** 询问地区分部第一季度营业费用保持平稳的原因,是否有一次性成本节约 [65][66][67] **Tom Reeg 回答** 没有从天气因素获得任何成本节约,公司一直在努力提高运营效率,通过增加收入和减少成本来提升利润 [66][67]
Caesars Entertainment (CZR) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Zacks Investment Research· 2024-05-01 06:31
Caesars Entertainment (CZR) reported $2.74 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 3.1%. EPS of -$0.55 for the same period compares to $0.09 a year ago. The reported revenue represents a surprise of -2.92% over the Zacks Consensus Estimate of $2.82 billion. With the consensus EPS estimate being -$0.03, the EPS surprise was -1733.33%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations ...
Caesars Entertainment(CZR) - 2024 Q1 - Quarterly Report
2024-05-01 04:26
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-36629 CAESARS ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) Delaware 46-3657681 (State or other jurisd ...
Caesars Entertainment(CZR) - 2024 Q1 - Quarterly Results
2024-05-01 04:06
Exhibit 99.1 Caesars Entertainment, Inc. Reports First Quarter 2024 Results LAS VEGAS and RENO, Nev. (April 30, 2024) – Caesars Entertainment, Inc., (NASDAQ: CZR) (“Caesars,” “CZR,” “CEI” or “the Company”) today reported operating results for the first quarter ended March 31, 2024. First Quarter 2024 and Recent Highlights: • GAAP net revenues of $2.7 billion versus $2.8 billion for the comparable prior-year period. • GAAP net loss of $158 million compared to net loss of $136 million for the comparable prior ...
What Awaits for Caesars Entertainment's (CZR) Q1 Earnings?
Zacks Investment Research· 2024-04-30 00:45
Caesars Entertainment, Inc. (CZR) is scheduled to report first-quarter 2024 results on Apr 30, after the closing bell. In the last reported quarter, the company reported a negative earnings surprise of 1033.3%. The Trend in Estimate Revision The Zacks Consensus Estimate is pegged at a loss of 3 cents per share. In the prior-year quarter, CZR reported an earnings per share of 6 cents. The estimated figure has declined from earnings of 15 cents in the past 60 days. For revenues, the consensus mark is pegged a ...
Insiders Are Buying These 3 Stocks
Zacks Investment Research· 2024-04-12 05:41
Investors closely monitor insider buys. But who are ‘insiders’? An insider is defined by Section 16 of the Security Exchange Act as an officer, director, 10% stockholder, or anyone who possesses information because of their relationship with the company. Of course, many strict rules apply to insiders. Notably, they have a longer holding period than most, a critical aspect investors should know. Several companies – Grief (GEF) , SentinelOne (S) , and Ceasars Entertainment (CZR) – have all seen recent insider ...
Caesars: Asymmetric Proposition At $39 Per Share (Rating Upgrade)
Seeking Alpha· 2024-03-17 14:00
股价表现 - Caesars股价自7月份以来表现不佳,下跌近20%,而标普500指数上涨近17%[1] - 预计到2025年,Caesars每股自由现金流将在5.50-8.20美元之间,股价有望上涨65-214%[2] - Caesars的自由现金流潜力巨大,风险有限,股价39美元时是一个对称的投资机会[3] 业务表现 - 尽管股价表现不佳,但Caesars业绩良好,维加斯业务创纪录,地区业务保持弹性,数字业务实现盈利[1] - 2023年,Caesars各业务表现强劲,维加斯业务超越2012年的表现,地区业务保持稳定,数字业务由亏损转盈利[4] - Caesars数字业务拥有6000万客户数据库,成本低廉,相对于纯数字业务有优势[7] 财务展望 - 预计到2025年,Caesars每股自由现金流将在5.50-8.20美元之间[8] - 2025年预计的自由现金流可供股东使用范围为1059-1584美元[11] - 根据管理层的指导,预计2025年将进行10亿美元的股票回购[11] 资产情况 - Caesars的资产组合庞大,特别是在维加斯业务中[15] - Caesars拥有的房地产资产灵活性强,可以为股东提供下行保护[20] - Caesars有可能被私募股权公司收购,通过出售房地产资产来融资[21]
Caesars (CZR) Expands Mobile Wagering in North Carolina
Zacks Investment Research· 2024-03-13 01:06
Caesars Sportsbook应用程序推出 - Caesars Entertainment在北卡罗来纳州推出了Caesars Sportsbook应用程序,扩大了公司在该州充满活力的体育博彩市场的影响力[1] - 通过与Caesars Rewards整合,提供与下注活动相关的无与伦比的奖励,增强了平台的吸引力[2] 用户体验提升 - 便捷的现金存取服务提升了用户体验,使用户能够轻松访问他们的资金[3] 公司扩张带来收入增长 - Caesars在北卡罗来纳州的扩张使其成为该州体育博彩领域的主要参与者,有望吸引大量用户,推动公司的收入增长[4]
Caesars Sportsbook Expands Mobile Wagering Statewide in North Carolina
Businesswire· 2024-03-12 00:11
RALEIGH, N.C.--(BUSINESS WIRE)--After becoming the first sportsbook to offer mobile sports wagering in North Carolina on Eastern Band of Cherokee Indians Tribal Lands and at Harrah’s Cherokee Casino Resort and Harrah’s Cherokee Valley River Casino & Hotel, Caesars Sportsbook is now accepting mobile sports wagers across the Tar Heel State. The full launch of Caesars Sportsbook, the premier sports betting platform operated by Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars”), builds on the longstanding pa ...
Caesars Entertainment Partners with Michelin-Starred Chef Rick Bayless
Businesswire· 2024-03-07 23:00
Caesars Entertainment与Rick Bayless合作开设Tortazo - Caesars Entertainment宣布与厨师Rick Bayless合作,在Harrah's Joliet和Caesars Palace Las Vegas引入其著名餐厅Tortazo[1] - Tortazo是由米其林星级厨师、食谱作者和餐厅老板Rick Bayless创立的快餐墨西哥餐厅,菜单以著名的墨西哥三明治Torta为特色,同时提供各种美味的墨西哥菜肴[2] - Caesars Entertainment总裁兼首席运营官Anthony Carano表示,与Rick Bayless合作开设Tortazo是为了为品牌带来新的多元化选择,这与Caesars的其他顶级厨师完美融合[3]