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Caesars Entertainment (NASDAQ:CZR) stock gained prior to the bell on Monday after the company pre-announced above-consensus Q4 revenue.
According to an SEC filing released on Monday, the casino operator expects $2.81B to $2.83B in revenue for the fourth quarter. Analysts had anticipated $2.77B for the quarter.
Las Vegas revenue is estimated to have risen over $110M from the prior year quarter, offsetting a slight deceleration in regional casino revenue. Digital growth is also estimated to have more than doubled, from $116M in Q4 2021 to between $236M and $238M in Q4 2022.
Net losses are estimated to have narrowed to a range of $257M to $129M from $434M in the same period of 2021.
Shares of the Nevada-based casino operator rose 3.03% in premarket trading on Monday.
Elsewhere, the company announced a $1.25B bond offering.