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Jun 30, 2023
Caesars Q2 2023 Earnings Report
Reported strength in business with demand remaining strong in Las Vegas and regional markets. Caesars Digital posted its first quarter of positive adjusted EBITDA since rebranding.
Key Takeaways
Caesars Entertainment, Inc. reported Q2 2023 results with GAAP net revenues of $2.9 billion and a net income of $920 million, driven by a $940 million release of valuation allowance against deferred tax assets. Same-store Adjusted EBITDA was $1.0 billion. Caesars Digital achieved its first quarter of positive adjusted EBITDA since rebranding.
GAAP net revenues reached $2.9 billion, compared to $2.8 billion in the prior-year period.
GAAP net income was $920 million, a significant increase from the prior-year net loss of $123 million, primarily due to a $940 million valuation allowance release.
Same-store Adjusted EBITDA was $1.0 billion, up from $978 million in the comparable prior-year period.
Caesars Digital reported positive Adjusted EBITDA of $11 million, a substantial improvement from $(69) million in the prior-year period.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Expect to continue reducing debt and leverage in the second half of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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