Caesars Entertainment reports growth in FY2023

Caesars Entertainment reports growth in FY2023

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Caesars Entertainment reports growth in FY2023

Caesars Entertainment’s latest financial analysis covers the 2023 financial year.

One of the first figures reported by the firm in the new analysis was its revenue, which went up from 10.8 billion dollars generated in the preceding financial year to 11.5 billion dollars, representing a year-over-year increase of just over 6%. Caesars’ adjusted EBITDA experienced a similar increase, going from 3.2 billion dollars in 2022 to 3.9 billion dollars this year. These increases allowed the firm to return to profitability, going from a net loss of almost 900 million dollars the preceding year to generating 786 million dollars in net income in 2023.

The company also reported its key figures from the final quarter of 2023, revealing a smaller increase in Caesars’ net revenues which went from 2.82 billion dollars in the fourth quarter of 2022 to 2.83 billion dollars. The firm experienced a lower net loss of 72 million dollars throughout the three-month period in 2023, up from last year’s loss of more than 140 million dollars.

Lastly, the report broke down the company’s figures by its operating divisions, which revealed that Caesars’ land-based operations outside of Las Vegas generated the most revenue for the firm at just over 5.7 billion dollars, while its properties in the tourist destination generated 4.5 billion dollars throughout 2023. Caesars’ online offerings and other services, on the other hand, generated 973 million dollars and 307 million dollars over the year respectively.

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