Caesars Entertainment posts $423m net loss in Q1 as Las Vegas revenue drops

Caesars Entertainment

Caesars Entertainment reported a net loss of $423.0m (£304.4m/€352.8m) in the first quarter of its fiscal yearThe operator also suffered a 7.1% drop in net revenue.

The legacy Caesars business generated $1.83bn in revenue in the three months ending March 31, down from $1.83bn in the same period in 2020, before it completed its merger with Eldorado Resorts.

Revenue from Caesars’ Las Vegas operations fell 39.5% year over year to $497.0m. But revenue from its regional operations increased 26.8% to 21.2% to $1.11bn, thanks in part to the deal.

Revenue from managed, international, and the digital Caesars Interactive Entertainment (CIE) business dropped 29.1% from $127.0m to $90.0m, while corporate and other revenue also fell 20.0% to $4.0m.

In Q1, revenue from casino and pari-mutuel operations totaled $1.14bn, with food and beverage revenue of $166.0m. Hotel revenue totaled $215.0 million, and other revenue $178.0m.





Nassima Azmzm

Nassima Azmzm

Leave a Comment

0 responses on "Caesars Entertainment posts $423m net loss in Q1 as Las Vegas revenue drops"

Leave a Message is born out of the necessity of sharing information and knowledge with everyone in the gaming industry who is interested in learning, growing, discovering different points of view and ways of doing things.

Upcoming Events

Copyright ©️ | All rights reserved.