Sector: Consumer Discretionary|Industry: Resorts & Casinos|Market Cap: $7.09B|Employees: 51K
Caesars Entertainment, Inc. operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno. In addition, the company operates dining venues, bars, nightclubs, lounges, hotels, and entertainment venues; and provides staffing and management services. Caesars Entertainment, Inc. was founded in 1937 and is based in Reno, Nevada.
Consolidated net revenues decreased by 1.7% YoY to $2.83 billion for the three months ended June 30, 2024. This was primarily due to continued headwinds in the Regional segment, including increased competition and construction disruptions.
Caesars Digital net revenues increased 27.8% YoY to $276 million for the three months ended June 30, 2024. This growth was driven by improved sports betting hold and increases in both iGaming handle and iGaming hold.
The company reported a net loss of $102 million for the three months ended June 30, 2024, compared to net income of $928 million in the prior year. This was primarily due to increased expenses and impairment charges within our Regional segment.