Caesars Digital Surges in Q2 as Las Vegas Revenue Slips

Caesars Entertainment posted strong Q2 results driven by the performance of its Digital segment, which CEO Tom Reeg described as “one of its strongest quarters ever,” even as revenue from Las Vegas operations declined.

Caesars Digital revenue rose by 24.3% year-on-year, reaching $343 million, up from $276 million in Q2 2024. For the first half of the year, the segment generated $678 million, up 21.5% from $558 million.

In contrast, the company’s Las Vegas revenue dropped by 3.7% in Q2 to $1.05 billion, and by 2.8% in H1 to $2.06 billion, reflecting softer demand in hospitality.

Despite that, total revenue across all divisions rose by 2.9% in Q2 to $2.9 billion, and 2.5% year-on-year in H1 to $5.7 billion.

Reeg noted:

“Momentum continues to build toward the financial goals that we originally laid out in 2021… In Las Vegas, we posted solid gaming results in the face of softer market demand in our hospitality verticals.”

The Regional segment also saw gains, with revenue up 4%, supported by properties in Virginia and New Orleans and continued investment in the Caesars Rewards program.

The company’s net loss narrowed, falling by 34.9% in Q2 (from $122m to $82m), and by 31.6% in H1 (from $280m to $197m). However, adjusted EBITDA dipped 4.1% in Q2 to $955 million, and 0.3% in H1 to $1.84 billion.

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