Caesars Entertainment Reports $2.794 Billion Revenue in Q1 2025, Net Loss Improves

Caesars Entertainment, Inc. reported a net revenue of $2.794 billion for the first quarter of 2025, reflecting a 1.9% increase from $2.742 billion in the same period of 2024. The growth was primarily driven by a 3.8% rise in casino revenues, which reached $1.594 billion, and a 3.1% increase in food and beverage revenues, totaling $435 million. However, hotel revenues declined by 2.2% to $482 million, attributed to lower occupancy rates following the Super Bowl held in Las Vegas in early 2024. The company recorded a net loss of $115 million, an improvement from a loss of $158 million in the prior year, resulting in a basic and diluted loss per share of $0.54, compared to $0.73 in the previous year.

In terms of operational performance, Caesars Digital segment saw significant growth, with revenues increasing by 18.8% to $335 million, driven by a 28.3% rise in iGaming handle. The segment's Adjusted EBITDA surged to $43 million, up from $5 million in the prior year, reflecting improved sports betting hold and increased customer engagement. The company continues to expand its digital footprint, operating in 32 jurisdictions, with 26 offering online sports betting and five jurisdictions for iGaming as of March 31, 2025.

Caesars Entertainment has also made strategic moves, including the divestiture of the LINQ Promenade for $275 million in December 2024, which contributed to a reduction in net revenues from the Las Vegas segment. The company is focused on enhancing its operational efficiency and has invested in new gaming and non-gaming amenities at its recently completed projects, such as Caesars Virginia and Caesars New Orleans. As of March 31, 2025, the company operated 53 properties across 18 states, with approximately 51,300 slot machines and 45,900 hotel rooms.

The company reported total assets of $32.398 billion and total liabilities of $28.119 billion as of March 31, 2025. Caesars Entertainment's cash and cash equivalents increased to $884 million from $866 million at the end of 2024. The company has a robust liquidity position, with a total borrowing capacity of $2.994 billion, which includes $2.235 billion under its CEI Revolving Credit Facility. Looking ahead, Caesars Entertainment anticipates continued growth in its digital segment and plans to invest in capital expenditures for property expansions and renovations throughout 2025.