Caesars Entertainment Tuesday reported slight increases year-over-year in revenue and adjusted earnings, owing the latter to a 61% increase in its digital segment.
The company reported $2.9 billion in revenue versus $2.8 billion a year ago. The net loss was $98 million compared to $115 million a year ago. Consolidated adjusted EBITDA was $887 million versus $884 million for the comparable prior-year period. Caesars Digital adjusted EBITDA was $69 million versus $43 million for the comparable prior-year period.
“In the first quarter of 2026, we delivered growth in total net revenue and adjusted EBITDA versus last year,” said CEO Tom Reeg. “Caesars Digital revenue of $374 million (up from $335 million a year ago) and adjusted EBITDA of $69 million (up from $43 million a year ago) achieved record first-quarter results.”
Las Vegas reported $1 billion in revenue, the same as the first quarter of 2025, but a drop in adjusted earnings from $433 million a year ago to $426 million in the first quarter, a decline of 1.6%.
In the Las Vegas segment, Reeg said experienced “continued sequential improvement in trends and a significant improvement in the hospitality vertical,” with occupancy of 95.3% and year-over-year growth in the average daily room rate.
Regional properties reported a 3% increase in revenue from $1.38 billion a year ago to $1.43 billion this year. Adjusted earnings, however, fell 1.1% from $440 milion to $435 million.
“The regional segment delivered improved adjusted EBITDA on a year over year basis after excluding the benefits of Super Bowl LX in New Orleans last year,” Reeg said.
As of March 31, Caesars had $11.9 billion in aggregate principal debt outstanding. Total cash and cash equivalents were $867 million, excluding restricted cash of $107 million.
On March 3, Caesars acquired the operations of Caesars Windsor for approximately $54 million and entered into a 20-year operating agreement with the Ontario Lottery and Gaming Corporation.
“Our first-quarter consolidated results demonstrate the stability of our Las Vegas and regional segments and the continued growth in Caesars Digital,” said CFO Bret Yunker. “We expect to deliver strong free cash flow in 2026 as a result of continued operating momentum, lower cash interest expense, and lower capex.”
