stockrowLatest quarter
Caesars reported Q2 FY2026 revenue of $3.0 billion, compared with $2.9 billion a year earlier. Its diluted loss per share narrowed to −$0.30 from −$0.39. Gross margin declined to 53.3% from 54.7%, while operating margin fell to 17.1% from 18.1%.
Caesars generated $305.0 million in free cash flow in Q2, compared with $235.0 million a year earlier. For the subsequent quarter ended September 30, 2026, revenue as counted by the consensus was $2.9 billion, below the $3.0 billion estimate.
In its filing for the September quarter, Caesars attributed higher consolidated revenue mainly to casino revenue, including growth in iGaming handle and improved sports betting hold in Caesars Digital. The company said Las Vegas revenue declined as fewer city-wide conventions and lower leisure visitation reduced non-gaming revenue, hotel occupancy and room rates. Regional revenue rose, with the filing citing the consolidation of Caesars Windsor and returns from investments in Lake Tahoe and New Orleans.
| Q2 FY2026 | Q2 FY2025 | Change | |
|---|---|---|---|
| Revenue | $3.0 billion | $2.9 billion | 2.96% |
| Diluted EPS | −$0.30 | −$0.39 | — |
| Gross margin | 53.3% | 54.7% | −1.4 percentage points |
| Operating margin | 17.1% | 18.1% | −1.0 percentage point |
| Free cash flow | $305.0 million | $235.0 million | 29.8% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Revenue | $2.9 billion | $3.0 billion | Missed by 1.38% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
Caesars said it would not host a quarterly conference call while its definitive agreement to be acquired by Fertitta Entertainment remained pending.
Guidance
In its filing, Caesars cautioned that historical operating results may not indicate future results because of factors including changes in market and societal trends and increased competition. The company also said changes in betting hold percentages and higher promotional and marketing expenses could affect Caesars Digital’s results.