Q3 2023 Earnings Summary
Reported on Jan 4, 2025 (After Market Close)
Pre-Earnings Price$39.89Last close (Oct 31, 2023)
Post-Earnings Price$40.88Open (Nov 1, 2023)
Price Change
$0.99(+2.48%)
- Confidence in Achieving $500 Million Digital EBITDA Target by 2025: The company remains confident in reaching its digital EBITDA target of $500 million by 2025. Each quarter, they grow more confident in this goal.
- Positive Outlook for Las Vegas Segment in 2024: An anticipated shift into higher-margin group business, along with the opening of the Versailles Tower expected to yield at least a 15%-20% ROI on a $100 million project, is projected to offset potential labor cost increases.
- Stable Regional Performance with Diversification Benefits: Despite cost pressures and competitive impacts in some markets, the regional segment achieved EBITDA growth with stable margins. Diversification across markets has been a strength, leading to resilience in the company's portfolio.
- Labor cost pressures due to upcoming union negotiations in Las Vegas could negatively impact margins.
- Competitive pressures in certain regional markets like Tunica and the Chicago market are causing revenue and EBITDA declines in those assets.
- Delays in the New York land-based casino licensing process may postpone expansion opportunities until 2025 or later.