Published
Mergers & Acquisitions

Caesars Entertainment reports Q2 revenue of $2.5bn

Caesars Entertainment Inc. has released its second-quarter results for this year.

q2

During the three months ending 30 June 2021, Caesars generated revenue of $2.5bn, up from $127m in the same period a year earlier.

The Las Vegas-based company said it had a diluted income per share of $0.34, after reporting a loss per share of $1.25 in the second quarter of last year.

Caesars reported net revenue of $855m from its Las Vegas operations in the second quarter of this year, up from $109m a year earlier. The net income totalled $71m, after reporting a net loss of $100m in the same period a year earlier.

“Our second quarter operating results improved significantly versus the first quarter of 2021 driven by continued strength in our regional markets and a dramatic improvement in results in our Las Vegas segment,” said Caesars CEO Tom Reeg.

Caesars Digital, the sports betting and online gaming segment, generated net revenues of $117m.

Caesars rebranded and launched a new marketing campaign for its new Caesars Sportsbook app following its acquisition of William Hill earlier this year.

As of 30 June, Caesars had $14.7bn in aggregate principal amount of debt outstanding, while total cash and cash equivalents were $1.1bn, excluding restricted cash of $622m.

Caesars CFO Bret Yunker commented: “We anticipate that our balance sheet will be further enhanced through improved operating trends and expected asset sale proceeds. We paid down $325m of debt during the quarter and remain committed to further debt reduction.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...