Caesars Entertainment reports net loss for Q2
Second-quarter revenue was $2.83bn.
US.- Caesars Entertainment has reported financial results for the quarter ended June 30. Revenue was $2.38bn, a decrease of 0.1 per cent compared to the same period last year. The company recorded a net loss of $122m. EBITDA was $1bn, up 0.6 per cent year-on-year.
Las Vegas operations generated $1.1bn in revenue for the quarter and saw growth in adjusted EBITDA, driven by same-store revenues and hotel occupancy. Caesars Digital reported a 27.8 per cent increase in revenue to $276m. However, the regional segment faced competition in new markets, partially offset by operations in Danville, Virginia and Columbus, Nebraska. Regional operations generated just under $1.4bn in revenue.
Tom Reeg, Caesars Entertainment’s CEO, said: “We remain optimistic for the balance of 2024 driven by strong operating trends in our Las Vegas and Caesars Digital segments and the expected openings of the permanent facility in Danville coupled with our $430m capital investment in our newly rebranded Caesars New Orleans property.”
