Caesars reports Q2 revenue growth of 10.6%

Caesars reported a net revenue increase of 33.6 per cent for its Las Vegas business.
Caesars reported a net revenue increase of 33.6 per cent for its Las Vegas business.

Caesars Entertainment has reported operating results for the second quarter ended June 30.

US.- Caesars Entertainment has published its second quarter financial results. The company generated $2.8bn in revenue, up 10.6 per cent from last year’s $2.5bn. The growth was driven by its Las Vegas business, while digital operations incurred a loss.

Caesars reported a net loss of $123m for the second quarter, compared to $71m in net income during the second quarter of 2021. The company had same-store adjusted earnings of $978m versus $1bn in the same period of 2021. The digital segment saw a $69m loss, however, same-store adjusted earnings were $1.05bn, compared to $1.01bn a year ago.

Tom Reeg, chief executive officer of Caesars Entertainment said: “Our second quarter results reflect a consolidated EBITDA record for our brick and mortar properties led by an all-time quarterly EBITDA record in Las Vegas and continued strength in our regional markets when compared to 2019. 

“Operating results in our digital segment improved dramatically versus the first quarter and we are optimistic regarding trends in this segment for the balance of the year.”

Las Vegas operations produced $1.1bn in net revenue, approximately 40 per cent of Caesars’ Q2 total and up 30 per cent from last year. Adjusted EBITDA for Las Vegas amounted to $547m, up 29.3 per cent.

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