Caesars Q1 2021 Earnings Report
Key Takeaways
Caesars Entertainment, Inc. reported a significant increase in net revenues to $1.7 billion, a 259.2% increase on a GAAP basis, but experienced a net loss of $423 million. Same-store Adjusted EBITDA reached $548 million. The company also closed the William Hill PLC acquisition and expanded its NFL partnership.
Net revenues increased by 259.2% on a GAAP basis to $1.7 billion.
Net loss was $423 million, compared to a $176 million loss in the prior year.
Same-store Adjusted EBITDA was $548 million, up from $410 million in the comparable period.
William Hill PLC acquisition was completed on April 22, 2021.
Caesars
Caesars
Caesars Revenue by Segment
Caesars Revenue by Geographic Location
Forward Guidance
The company expects ongoing improvement in operating trends to lead to increased free cash flow generation. They ended the quarter with $1.8 billion of unrestricted cash and revolver availability remains unchanged at $2.1 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income