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Why Caesars Entertainment Stock Plummeted 15.2% Today

The Motley Fool Logo The Motley Fool By Johnny Rice
Why Caesars Entertainment Stock Plummeted 15.2% Today

Caesars Entertainment reported disappointing Q3 earnings, missing Wall Street estimates and experiencing a significant decline in Las Vegas tourism during summer months, leading to a 15.2% stock drop.

Insights
CZR   negative

Missed quarterly earnings targets, reported a loss of $0.27 per share versus expected $0.09, experienced nearly 10% year-over-year sales decline in Las Vegas, and CEO acknowledged difficult summer with softening leisure demand