Caesars tops earnings expectations for second quarter
Caesars Entertainment on Tuesday reported second-quarter net income of $71 million, after reporting a loss in the same period a year earlier.
Net revenues of $2.5 billion versus $127 million on a GAAP basis for the comparable prior-year period. Same-store Adjusted EBITDA of $1.0 billion versus $(131) million for the comparable prior-year period. Company posted all-time records in quarterly Adjusted EBITDA and Adjusted EBITDA margin.
Tom Reeg, Chief Executive Officer of Caesars Entertainment, Inc., commented, “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. With the William Hill acquisition now closed, we have officially rebranded our sports betting operations to Caesars and we launched our new comprehensive marketing campaign on August 2, 2021.”