Caesars enjoy improvement, but losses remain

Caesars Entertainment reports a sharp improvement in its fortunes in the first quarter of the current year.

The company’s revenues moved to $1.7bn, up 259 per cent, but still showed a net loss of $423m compared with a net loss of $176m last year. EBITDA rose from $410m to $548m.

The milestones in the year include the closing of the deal to buy William Hill last month and an expanded NFL relationship that made Caesars one of three official sports betting partners.

CEO Tom Reeg said: “The first quarter improved significantly against the fourth quarter of 2020 as the pace of vaccinations across the US accelerated.”