Caesars Q1 net loss widens to $158M; same-store EBITDA falls 10% as Las Vegas hold disappoints

Caesars Entertainment, Inc.

2024-Q1 EPS reported -$0.73 revenue$2,742,000,000

GAAP net loss of $158M vs $136M loss prior year; revenue down 1.2% to $2.74B.
Same-store Adjusted EBITDA fell 9.9% to $853M, with Las Vegas segment EBITDA down 15.7%.
Caesars Digital turned positive: $5M Adjusted EBITDA vs -$4M; revenue up 18.5% to $282M.
Total debt $12.4B; cash & equivalents $726M; company expects to reduce debt using free cash flow.
Caesars Virginia JV closed $425M financing for permanent casino resort opening Dec 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Caesars Entertainment, Inc. reported first quarter ended March 31, 2024 results: revenue $2.7 billion, net income $158 million.

Period: first quarter ended March 31, 2024
Revenue: $2.7 billion
Net income: $158 million
Result: reported results

Exact text from the filing

GAAP net revenues of $2.7 billion versus $2.8 billion for the comparable prior-year period.

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Source: SEC EDGAR

accession 0001590895-24-000086

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