Caesars Entertainment Inc
Caesars Entertainment Inc. has released its second-quarter results for this year.
During the terzetto months ending 30 June 2021, Caesars generated revenue of $2.5bn, up from $127m in the same point a yr earlier. Adjusted EBITDA increased from $131m to $1bn.
The Las Vegas-based company said it had a dilute income per portion out of $0.34, after reporting a red ink per part of $1.25 inwards the 2nd quarter of last year.
Caesars reported net revenue of $855m from its Las Vegas trading operations in the indorsement billet of this year, upward from $109m a year earlier. The meshwork income totalled $71m, after reporting a network red ink of $100m inward the same period a twelvemonth earlier.
“Our second canton operating results improved significantly versus the first billet of 2021 driven by continued strength inwards our regional markets and a spectacular melioration in results in our Las Vegas segment,” said Caesars CEO Tom Reeg.
Caesars Digital, the sports betting and online gaming segment, generated network revenues of $117m.
Caesars rebranded and launched a new marketing effort for its young Caesars Sportsbook app following its acquisition of William Benny Hill before this year.
As of 30 June, Caesars had $14.7bn in mass head teacher amount of debt outstanding, spell come immediate payment and hard currency equivalents were $1.1bn, excluding restricted hard currency of $622m.
Caesars CFO Bret Yunker commented: “We foreknow that our equilibrize bed sheet testament live farther enhanced through and through improved operating trends and expected plus cut-rate sale proceeds. We paid downward $325m of debt during the quarter and remain committed to further debt reduction.”