Caesars Digital swings to $4 million profit as WSOP Online nears 888 exit and Fertitta sale

Caesars Digital, home of WSOP Online, earned $4 million in the third quarter after a $21 million loss a year earlier, even as analysts estimate its online casino share slipped to 6.4%. With Fertitta Entertainment's takeover pending and the 888 software deal set to expire in 2026, these are likely the last public numbers behind the four-state poker network.

• Caesars Digital net revenue rose 4.8% to $326 million in the third quarter of 2026, up from $311 million a year earlier.
• Adjusted EBITDA at the digital unit climbed 57% to $44 million from $28 million, while the group posted a GAAP net loss of $123 million against $55 million a year earlier.
• Citizens estimates Caesars' share of US online casino fell to 6.4% from 7.1%, as total US iGaming growth slowed to 12% year over year.
• Fertitta Entertainment's all-cash deal for Caesars is worth about $17.6 billion, and shareholders receive an extra $0.007150 per share per day if it has not closed by June 26, 2027.

Caesars Digital earned $4 million in net income attributable to Caesars in the third quarter of 2026, reversing a $21 million loss a year earlier, Caesars Entertainment reported in results filed with the SEC on Oct. 27. Revenue at the unit that runs WSOP Online rose 4.8% to $326 million from $311 million. Adjusted EBITDA climbed 57% to $44 million, up from $28 million in the third quarter of 2025.

No executives walked analysts through the numbers. For the second quarter running, Caesars released results without an earnings call because it is moving from public listing to private ownership, SBC Americas reported. That likely makes this the last public look at the money behind WSOP Online, the only shared-liquidity poker network covering all four MSIGA states, before Caesars stops reporting.

Caesars Digital profit lands beside a $123 million group loss

The digital gains arrived while the rest of the company moved the other way. Caesars recorded a GAAP net loss attributable to the company of $123 million for the quarter, against $55 million a year earlier, and consolidated adjusted EBITDA fell to $865 million from $884 million.

Las Vegas weakened. Segment revenue there fell 2.3% to $930 million, adjusted EBITDA dropped 9.5% to $343 million, and segment net income slid 40.2% to $79 million from $132 million. With the Strip retreating, the digital arm has become the group’s growth engine.

The nine-month figures tell the same story at greater scale. Through September, Caesars Digital revenue reached $1,051 million, up 6.3% from $989 million. Adjusted EBITDA rose 19.9% to $181 million, and net income came to $53 million, up from $18 million in the same period of 2025.

Poker is a small line inside those totals, but it does show up in the filings. Caesars’ second-quarter 10-Q put promotional and complimentary incentives for online poker at $4 million for that quarter, down from $5 million a year earlier. The six-month figure was $7 million, down from $8 million. The numbers are consistent with a business holding poker player incentives in check rather than expanding them.

Citizens puts Caesars’ online casino share at 6.4%

Higher profit has come alongside a smaller slice of the market. On Oct. 27, Citizens analysts published estimates that Caesars had lost US market share over the previous 12 months in both online casino and online sports betting. Their data puts Caesars’ share of US online casino at 6.4%, down from 7.1%.

The wider market offers less help than it did. Citizens puts total US iGaming growth in the third quarter at 12% year over year, down from 16% in the second quarter and the lowest rate on record. A profitable but shrinking online casino base, in a market whose growth is slowing, is what Fertitta stands to inherit.

WSOP Online’s 888 software deal runs out in 2026

The poker product itself is heading for a rebuild. Caesars is developing a new online poker product that would run on a third-party platform, PokerFuse reported on Oct. 16. That could end 888’s role as WSOP Online’s real-money software provider, a role it has held since the network launched in 2013.

The timing follows the contract. The WSOP and 888 software agreement was renewed in 2021 for five years and is set to expire in 2026. Alongside poker features built into the Caesars sportsbook and iCasino apps, the plan calls for a dedicated poker app that would run on iOS and Android devices as well as in a web browser.

Any switch touches the network’s defining asset. WSOP Online’s shared player pool spans Nevada, New Jersey, Michigan and Pennsylvania. Pennsylvania joined on April 28, 2025, when Caesars said it became the first online poker operator to pool liquidity across four US jurisdictions.

Fertitta’s $31.00-per-share deal faces a June 26, 2027 marker

Fertitta Entertainment agreed on May 28 to buy Caesars in an all-cash deal worth about $17.6 billion, paying shareholders $31.00 per share, which Caesars called a 49% premium to the unaffected price. Shareholders have already voted. According to a Sept. 23 filing, holders of 143,277,939 shares attended the special meeting in person or by proxy, or 70.3% of the 203,780,124 shares outstanding on the Aug. 21 record date. The merger passed with 133,313,001 votes for and 4,276,986 against.

Gaming regulators still have to act. At a Nevada Gaming Control Board hearing in July, Fertitta general counsel Steven Scheinthal estimated that the required approvals would take nine to 10 months.

Delay now carries a price. If the merger has not closed by June 26, 2027, Caesars shareholders will receive an extra $0.007150 per share for each additional day.