No climb for Caesars in Q1 results

Home » No climb for Caesars in Q1 results

Caesars Entertainment did not quite meet its 2023 mark in its Q1 2024 results, newly released reports have confirmed.

Net revenues for Q1 hit $2.7bn, down from $2.8bn in 2023, totalling a GAAP net loss of £158m compared to a net loss of $136m in 2023. Same-store Adjusted EBITDA reached $853m, down from $947m in 2023.

Tom Reeg, CEO of Caesars Entertainment, commented: “Operating results during the first quarter in Las Vegas are a combination of record occupancy, driven by the Super Bowl and international visitation for Chinese New Year, offset by lower-than-expected hold.

“In our Regional segment, results reflect weather-related weakness in January and early February partially offset by our new property openings. Caesars Digital delivered strong revenue growth despite lower-than-expected hold in online sports due to unfavourable outcomes for the Super Bowl and March Madness.

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“Moving past the first quarter headwinds, we remain optimistic toward improved operating results throughout the balance of the year.”

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