Caesars Entertainment reports $423m net loss for Q1
The company has reported financial results for the first quarter of the year showing a fall in revenue and an increase in net losses.
US.- Caesars Entertainment has revealed its first-quarter results showing a drop in revenue to $1.70bn, down from $1.83bn in Q1 2020. The company’s net loss reached $423m, compared with $176m in the same period last year.
Caesars said revenue from its operations in Las Vegas fell 39.5 per cent year-on-year to $497.0m, but that revenue from regional operations jumped 26.8 per cent to 21.2 per cent to $1.11bn, thanks in part to its merger with Eldorado Resorts.
EBITDA rose from $410m to $548m.
CEO Tom Reeg said: “The first quarter improved significantly against the fourth quarter of 2020 as the pace of vaccinations across the US accelerated.”
The company has bought the UK-owned sportsbook William Hill.
