Caesars Entertainment posted second-quarter results covering the first reporting period since Fertitta Entertainment announced its $17.6bn acquisition in late May. The deal is expected to close in spring 2027. Las Vegas dragged performance across all metrics.
Revenue in the Las Vegas segment fell 3.5% to $1bn for the quarter and 2% to $2bn for the half. Adjusted EBITDA dropped 13% to $410m in the quarter and 7% to $836m for the half, while net income declined 26% to $156m and 15% to $332m respectively.
Group-wide, revenue rose 3% to $2.99bn for the quarter, but adjusted EBITDA fell 4% to $920m. Net loss came in at $62m against $82m a year earlier. For the half, revenue reached $5.9bn, EBITDA stood at $1.8bn (down 2%), and the loss narrowed to $160m from $197m.
The regional segment drove growth: revenue up 10% to $1.5bn for the quarter, adjusted EBITDA up 11% to $488m. Caesars Digital added 2% in revenue ($351m), but EBITDA dropped 15% to $68m on weak online sports betting hold. For the half, digital EBITDA climbed 11% to $137m.
Truist analyst Barry Jonas called the regional business a 'bright spot' and highlighted iGaming strength in digital. Loss per share of $0.30 missed the forecast of $0.05. Shares traded around $30.
