Caesars Entertainment has reported that its full year net revenue increased to $9.6bn.
US.- Caesars Entertainment has shared its financial report for the fourth quarter and full-year 2021. The company reported $2.6bn in revenue for the Q4 2021, up from $1.6bn in the prior-year period. For the full year, revenue amounted to $9.6bn, compared to $3.6bn in 2020.
The gaming giant reported a net loss of $434m for Q4, compared to $555m in the prior-year period. It reported a net loss of $1bn for full-year 2021, down from a $1.8bn net loss in 2020.
Las Vegas and Regional were the segments that saw the most revenue in Q4. Las Vegas operations represented $1.04bn of the total, compared to $447m in Q4 2020. Regional operations were the biggest earner, with revenue amounting to $1.36bn.
For the full year Las Vegas operations represented $3.4bn, up from 2020’s $751m, and regional revenue amounted to $5.5bn, compared to $2.66bn from 2020.
Tom Reeg, CEO of Caesars Entertainment said: “Our quarterly operating results reflect new fourth-quarter records for Adjusted EBITDA and Adjusted EBITDA margin in both our Las Vegas and Regional segments.
“Caesars Sportsbook continues to exceed our expectations for new customer registrations, deposits and market share, especially in recently launched jurisdictions.”
Caesars Sportsbook is now live in 22 states and jurisdictions, 16 of which offer mobile wagering. The company listed as highlights for the year having exceeded its synergy target from its July 2020 merger with Eldorado Resorts.
Reeg also mentioned plans to sell one of Caesars’ Strip assets: “The next time we talk to you about a Strip asset sale, it will be to announce that sale,” he said on the earnings call.