The company reported a loss of 54 cents a share on revenue of $1.12 billion for the latest quarter.
Wall Street was looking for a loss of 9 cents a share on revenue of $1.62 billion.
A year ago, the company reported a loss of $7 a share on revenue of $2.13 billion.
Despite the earnings miss, the company's sales increased year-over-year due to strength in hospitality offerings, and positive performance in Caesars Interactive Entertainment's (CIE) social and mobile games business.
"We remain focused on executing a balanced agenda of enhancing revenue growth while driving productivity gains to improve margins and cash flow, while increasing long-term value for our stakeholders," CEO Mark Frissora stated.
Shares are unchanged in after-hours trading at $7.52.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of D+.
This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CZR