Caesars on prediction markets: ‘We will not put licenses at risk’
CEO Tom Reeg spoke to investors and analysts during a Q3 2025 conference call held on October 28, as the operator witnessed a net loss of $55m throughout the quarterly period.
Caesars Entertainment CEO Tom Reeg stated the operator “will not put any of our licenses at risk” when potentially pursuing prediction markets avenues.
“We will not put any of our licenses at risk,” Reeg said on a Q3 2025 conference call.
“We believe what’s happening in prediction markets is sports gambling. If there’s a path that develops where we can participate in a way that doesn’t put licenses at risk, you should expect we would be prepared to go down that path, but we’re watching it the same as you are.”
Caesars Digital President Eric Hession showed interest in entering the contract trading industry, however, by stating the operator is currently in the “planning stages” of integrating prediction markets within its offering. Hession also cautioned Caesars may wait to see how fellow operators introduce the gaming type prior to releasing its own platform to offer contract trading.
“As we’ve said before, we can’t be out on the lead on this one,” Hession said.
“There’s still uncertainty. I’m sure you’ve seen some of the letters from the regulatory agencies.”
States such as Nevada, Pennsylvania, Michigan and Arizona have all issued warnings to licensed operators that sporting event-related contract trading will be viewed in the same light as wagering and may not have a place within each respective market.
For the third quarter of 2025, Caesars recorded a $55m net loss throughout the period, while net revenue grew just 0.1% for a total of $2.9bn.
The net loss represents a significant increase from the $9m loss reported for Q3 2024, as Reeg attributed the results to “lower city-wide visitation and poor table games hold.”
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