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Jun 30
Caesars Q2 2025 Earnings Report
Caesars reported modest top-line growth and reduced net losses in Q2 2025, with notable strength in its Digital segment and continued improvement in operating income.
Key Takeaways
Caesars Entertainment posted $2.91 billion in revenue and reduced its net loss to $82 million in Q2 2025. Caesars Digital delivered a record $80 million in adjusted EBITDA, offsetting softness in Las Vegas and Regional segments.
Total net revenue increased 2.9% YoY to $2.91 billion
Net loss improved to $82 million from $122 million a year ago
Caesars Digital achieved $80 million in adjusted EBITDA, doubling YoY
Las Vegas adjusted EBITDA declined 8% amid softer hospitality demand
Caesars
Caesars
Caesars Revenue by Segment
Caesars Revenue by Geographic Location
Revenue by Segment
Las Vegas Revenue
CapyFin.comRegional Revenue
CapyFin.comCaesars Digital Revenue
CapyFin.comManaged and Branded Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.comRevenue by Geographic Location
Las Vegas Revenue
CapyFin.comRegional Revenue
CapyFin.comCaesars Digital Revenue
CapyFin.comManaged and Branded Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.com Forward Guidance
Caesars plans to focus on deleveraging, margin expansion, and continued growth in digital and regional operations. No specific Q3 guidance was issued.
Positive Outlook
- Caesars Digital showed strong growth and profitability
- Redeemed $546 million in 2027 notes, reducing annual interest by $44 million
- Improved net loss and maintained high operating income
- Cash position remained solid at $982 million
- No significant near-term debt maturities
Challenges Ahead
- Las Vegas saw softness in hospitality despite gaming resilience
- Adjusted EBITDA declined 4.1% YoY
- Interest expense remained high at $579 million
- Total debt stood at $12.3 billion
- No updated financial projections for Q3