Caesars shows steady rise but also losses

Sequential monthly improvements throughout the first quarter of the new financial year are reported by Caesars Entertainment.

The company reports revenues of $2.3bn, as against $1.8bn in the comparable period of last year. A net loss of $680m compares with a loss of $423m in the same period. EBITDA is down to $296m compared with $521m, but Caesars Digital showed EBITDA of $850m,up from $530m.

CEO Tom Reeg commented: “Our first quarter operating results reflect sequential improvement each month of the quarter in revenues and in EBITDA. Our Las Vega segment posted an all-time first quarter EBITDA record and our regional segment delivered solid EBITDA and margin growth. Consumer trends remain healthy and we are optimistic for the balance of the year.”