Caesars Entertainment has shared its second quarter results, with its digital segment reporting one of its strongest quarters ever, despite experiencing an overall dip.
When looking at the net revenues, there has been a 24.3% increase in ‘Caesars Digital’ from 2024.
Tom Reeg, Chief Executive Officer of Caesars Entertainment, Inc., commented, “Our Caesars Digital segment posted one of its strongest quarters ever, as momentum continues to build toward the financial goals that we originally laid out in 2021.
“In Las Vegas, we posted solid gaming results in the face of softer market demand in our hospitality verticals. Net Revenues in our Regional segment increased 4% driven primarily by Caesars Virginia and New Orleans, coupled with strategic reinvestment into our Caesars Rewards database.”
Caesars Digital segment sees biggest percentage change in second quarter
Despite the digital sector thriving, the hotel and casino company reported a loss of $82 million, but in the previous year they had reported a loss of $122 million.
Its revenue is posted as $2.9 billion which is up from $2.8 billion the year prior. According to the Wall Street Journal, analysts were expecting revenue of $2.86 billion.
The figures, as reported by Caesars Entertainment, are as follows:
- GAAP net revenues of $2.9 billion versus $2.8 billion for the comparable prior-year period.
- GAAP net loss of $82 million compared to a net loss of $122 million for the comparable prior-year period.
- Same-store Adjusted EBITDA of $955 million versus $996 million for the comparable prior-year period.
- Caesars Digital Adjusted EBITDA of $80 million versus $40 million for the comparable prior-year period.
The company has made a real push to introduce more digital-related products over the last few years, including its casino mobile app and online gaming platform which was launched in 2024.
Named the ‘Horseshoe Online Casino,’ the app was initially exclusive to Michigan with plans to expand into other jurisdictions where Caesars’ digital iGaming platforms are live.
Earlier in the year, in June, the company celebrated the launch of Remote Reels at Tropicana Atlantic City. This is an online casino enhancement that connects live slot gameplay from the casino floor directly to Caesars Palace Online Casino on mobile and desktop.
Featured Image: Credit to Caesars Entertainment via press release
