Caesars Q2 net income $920M on $940M tax benefit; Digital reaches positive EBITDA

Caesars Entertainment, Inc.

2023-Q2 EPS reported $3.63 revenue$5,709,000,000

GAAP net income of $920M vs loss of $123M YoY, driven by $940M deferred tax asset valuation allowance release.
Same-store Adjusted EBITDA of $1.007B, up 3% YoY; Las Vegas EBITDA fell 6.4% to $512M.
Caesars Digital posted first positive adjusted EBITDA of $11M vs loss of $69M in prior year quarter.
Net leverage at 4.2x; permanently repaid $250M Baltimore Term Loan on July 17; total debt $12.7B.
GAAP net revenues $2.9B, up 2.1% on same-store basis from $2.82B.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Caesars Entertainment, Inc. reported the quarter ended June 30, 2023 results: revenue $2.9 billion, net income $920 million.

Period: the quarter ended June 30, 2023
Revenue: $2.9 billion
Net income: $920 million
Result: reported results

Exact text from the filing

Second Quarter 2023 and Recent Highlights: • GAAP net revenues of $2.9 billion versus $2.8 billion for the comparable prior-year period. • GAAP net income of $920 million compared to net loss of $123 million for the comparable prior-year period,

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Source: SEC EDGAR

accession 0001590895-23-000089

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