Caesars Entertainment did not quite meet its 2023 mark in its Q1 2024 results, newly released reports have confirmed.
Net revenues for Q1 hit $2.7bn, down from $2.8bn in 2023, totalling a GAAP net loss of £158m compared to a net loss of $136m in 2023. Same-store Adjusted EBITDA reached $853m, down from $947m in 2023.
Tom Reeg, CEO of Caesars Entertainment, commented: “Operating results during the first quarter in Las Vegas are a combination of record occupancy, driven by the Super Bowl and international visitation for Chinese New Year, offset by lower-than-expected hold.
“In our Regional segment, results reflect weather-related weakness in January and early February partially offset by our new property openings. Caesars Digital delivered strong revenue growth despite lower-than-expected hold in online sports due to unfavourable outcomes for the Super Bowl and March Madness.
“Moving past the first quarter headwinds, we remain optimistic toward improved operating results throughout the balance of the year.”
