Caesars Entertainment Posts Q2 Revenue Jump

American betting group Caesars Entertainment has announced that its second quarter financial results showed $2.8 billion in revenues, up 10.6% from last year.

Key financial indicators for the quarter ending June 30th, 2022 were:

  • A net loss of $123 million down from a profit of $71 million last year
  • Adjusted earnings of $978 million, down from $1 billion last year
  • Digital operations generated a loss of $69 million
  • Digital earnings were $1.05 billion, up from $1.01 billion
  • Las Vegas operations generated $1.1 billion in net revenue, up 30% from last year
  • Las Vegas EBITDA was $547 million, up 29.3% from last year
  • Operating expenses were up 16.1% to $2.22 billion
  • Other expenses were up 5.1% to $514 million
  • Pre-tax profit of $88 million, down 12.9%

Commenting on the results Caesars Entertainment CEO Tom Reeg said, "Our second quarter results reflect a consolidated EBITDA record for our brick and mortar properties led by an all-time quarterly EBITDA record in Las Vegas and continued strength in our regional markets when compared to 2019.

"Operating results in our digital segment improved dramatically versus the first quarter and we are optimistic regarding trends in this segment for the balance of the year."

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.

Comments

Post new comment

There are currently no comments on this page. Be the first!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.