Caesars Entertainment Tuesday reported second quarter earnings that showed an increase in revenue but lower same-property adjusted earnings compared to the second quarter of 2024.
Caesars reported net revenues of $2.9 billion versus $2.8 billion for the comparable prior-year period.
The net loss was $82 million compared to a net loss of $122 million for the comparable prior-year period.
Same-store adjusted EBITDA was $955 million versus $996 million for the comparable prior-year period.
Adjusted earnings of $902 million in Las Vegas fell 8% during the quarter while regional properties’ adjusted earnings of $879 million fell 6.4%. Digital adjusted earnings of $80 million doubled from last year’s second quarter.
“Our Caesars Digital segment posted one of its strongest quarters ever, as momentum continues to build toward the financial goals that we originally laid out in 2021,” said CEO Tom Reeg. “In Las Vegas, we posted solid gaming results in the face of softer market demand in our hospitality verticals. Net revenues in our regional segment increased 4% driven primarily by Caesars Virginia and New Orleans, coupled with strategic reinvestment into our Caesars Rewards database.”
Las Vegas operations reported $1.05 billion in revenue during the second quarter, a 3.7% decline from the $1.1 billion a year ago.
Regional properties reported $1.43 billion in revenue, up 3.6% from $1.38 billion.
The $343 million in revenue in the digital segment rose 24.3% from $276 million.
