Caesars Entertainment logged a wider loss in its latest quarter as revenue from its Las Vegas business fell, hurt by weak demand for leisure travel.

"It was a difficult summer," Chief Executive Tom Reeg said during a call with analysts, noting declines in average daily room rates and occupancy.

Leisure travel demand in Las Vegas was particularly soft at lower-tier properties, while premium travel trends have held up better, he said.

Those dynamics dragged on third-quarter revenue for the casino operator's Las Vegas business, down 9.8% to offset gains across its digital gambling and regional segments.

Reeg said travel trends in Las Vegas have improved so far in the current quarter, buoyed by an uptick in group and convention-related travel, which he expects to continue in the first quarter of next year.

"That brings us back to a much healthier looking market as we look at this quarter and into 2026," he said.

In the third quarter, Caesars posted a loss of $55 million, or 27 cents a share, compared with a loss of $9 million, or 4 cents a share, a year earlier. Analysts polled by FactSet expected a loss of 2 cents a share.

Revenue was roughly flat at $2.87 billion compared to the year-ago quarter. Analysts expected $2.89 billion.

Revenue in the company's Las Vegas business decreased to $952 million, hurt by a decline in visitation across the city and poor table games hold, a metric for game profitability.

Revenue in Caesars' regional segment rose 6.2% to $1.54 billion, while revenue in its digital gambling unit ticked up 2.6%, to $311 million, helped by strong volumes because of continued product improvements, Reeg said.