Caesars Entertainment Reports Q2 2025 Revenue Growth to $2.907 Billion, Net Loss Decreases

Caesars Entertainment, Inc. reported its financial results for the second quarter of 2025, revealing a net revenue of $2.907 billion, a 2.7% increase from $2.830 billion in the same period last year. For the first half of 2025, the company generated $5.701 billion in revenue, up 2.3% from $5.572 billion in the first half of 2024. The increase in revenue was primarily driven by a significant rise in casino revenues, which reached $1.668 billion for the quarter, up 7.1% year-over-year, and $3.262 billion for the six months, a 5.5% increase. However, the company reported a net loss of $82 million for the quarter, compared to a loss of $122 million in the prior year, and a net loss of $197 million for the first half, down from $280 million in 2024.

Operating expenses for the second quarter totaled $2.381 billion, reflecting a 2.5% increase from $2.324 billion in the same quarter of 2024. The rise in expenses was attributed to higher costs associated with casino operations, food and beverage services, and hotel operations, which were partially offset by a lack of impairment charges that had impacted the previous year’s results. Notably, the company did not recognize any impairment charges during the current quarter, contrasting with $118 million in charges recorded in the same period last year.

Strategically, Caesars has continued to expand its digital footprint, with the Caesars Digital segment reporting a 24.3% increase in revenue to $343 million for the quarter, driven by a 33% increase in iGaming handle. The company has also launched new products, including the Caesars Palace Online Casino and the Horseshoe Online Casino app, which contributed to improved engagement metrics. As of June 30, 2025, Caesars operated in 33 jurisdictions for retail and online sports betting, with 26 jurisdictions offering online sports betting.

In terms of operational metrics, the company reported a total of 53 properties across 18 states, with approximately 51,900 slot machines and 45,900 hotel rooms. The company’s cash and cash equivalents increased to $982 million from $866 million at the end of 2024, while total assets decreased slightly to $32.478 billion from $32.590 billion. Caesars also announced a $500 million share repurchase program, of which $100 million has been executed as of April 2025, with $350 million remaining authorized for future repurchases.

Looking ahead, Caesars expects continued growth in its digital segment as more jurisdictions legalize online gaming and sports betting. The company remains focused on managing its debt and capital expenditures, with an estimated $454 million in debt service obligations for the remainder of 2025. The recent enactment of a new tax policy is anticipated to favorably impact the company’s tax expenses in the latter half of the year, although the exact financial implications are still being assessed.