Hotel and casino entertainment company Caesars Entertainment (NASDAQ:CZR) will be reporting results tomorrow after market close. Here's what to look for.

Caesars Entertainment missed analysts' revenue expectations by 1.3% last quarter, reporting revenues of $2.83 billion, flat year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.

Is Caesars Entertainment a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Caesars Entertainment's revenue to be flat year on year at $2.83 billion, slowing from the 23.5% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.06 per share.

The analysts covering the company have been growing increasingly bearish about the business heading into the earnings, with revenue estimates seeing seven downward revisions over the last thirty days. Caesars Entertainment has missed Wall Street's revenue estimates twice over the last two years.

Looking at Caesars Entertainment's peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Monarch delivered year-on-year revenue growth of 4.3%, meeting analysts' expectations, and Boyd Gaming reported flat revenue, in line with Wall Street's consensus estimates. Monarch traded down 3.9% following the results while Boyd Gaming was also down 15.4%.

Read our full analysis of Monarch's results here and Boyd Gaming's results here.

Inflation fears have put pressure on growth stocks, and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share price declining 7% over the last month. Caesars Entertainment is down 15.2% during the same time and is heading into earnings with an average analyst price target of $58.7 (compared to share price of $36.61).

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