Caesars and Evolution launch live dealer studio in Pennsylvania
Caesars Entertainment, in partnership with Evolution Gaming, has officially launched its first branded online casino live dealer studio in Pennsylvania.The platform...
Caesars Entertainment announces second quarter results
Caesars Entertainment’s Q2 results for the period ending June 30 show net revenues of $2.8 billion, down from $2.9 billion last year.
The company reported a net loss of $122 million, compared to a net income of $920 million, largely due to a $940 million deferred tax asset adjustment last year.
Same-store adjusted EBITDA was $1 billion, unchanged from the previous year, while Caesars Digital saw adjusted EBITDA rise to $40 million from $11 million.
CEO of Caesars Entertainment, Tom Reeg, said:
“On a consolidated basis, the company generated $1bn of adjusted EBITDA. Our operating results reflect year-over-year growth in adjusted EBITDA in our Las Vegas segment driven by record same store revenues, hotel occupancy and average daily rate.
Our Caesars Digital segment posted a new second-quarter adjusted EBITDA record, driven by strong revenue growth and solid flow through. Regional segment results reflect competition in new markets partially offset by our temporary facility in Danville, Virginia, and our property in Columbus, Nebraska.”
Caesars Entertainment remains optimistic for the balance of 2024 driven by strong operating trends in their Las Vegas and Caesars Digital segments and the expected openings of the permanent facility in Danville coupled with their $430m capital investment in the newly rebranded Caesars New Orleans property.
Caesars sells the LINQ Promenade for $275M
Caesars Entertainment has finalized the $275 million sale of its LINQ Promenade to a joint venture between TPG Real Estate and Acadia Realty Trust.The Promenade, located...
