Caesars reports strong fourth quarter

February 21, 2023 9:22 PM
Photo: Shutterstock
  • Buck Wargo, CDC Gaming Reports
February 21, 2023 9:22 PM

Buoyed by strong performances in Las Vegas and across the country as well as its sportsbook, Caesars Entertainment reported fourth quarter revenues of $2.8 billion, surpassing the $2.6 billion during the fourth quarter of 2021, and reported record gains in adjusted earnings.

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In its earnings report released Tuesday, Caesars reported same-store adjusted EBITDA of $957 million versus $581 million during the fourth quarter of 2021. Excluding digital, EBITDA was $962 million versus $886 million.

For all of 2022, net revenue was of $10.8 billion, versus $9.6 billion in 2021. The same-store adjusted EBITDA was $3.2 billion, versus $3 billion for 2021. Excluding digital, the adjusted EBITDA was $3.9 billion versus $3.5 billion in 2021.

“Our fourth quarter delivered another set of strong operating results as both our Las Vegas and regional segments each set new fourth quarter records for adjusted EBITDA,” said Caesars CEO Tom Reeg. “Additionally, our Las Vegas segment set a new full year record for adjusted EBITDA. Caesars Sportsbook delivered significantly improved operating results during the fourth quarter which sets the foundation for a strong 2023. Consumer demand remains strong in all of our verticals and we are optimistic for the year ahead.”