Caesars Entertainment has announced a modest increase in revenue and adjusted earnings for the first quarter, with robust growth in its digital sector helping to counteract a slowdown in its traditional casino operations.
The firm’s revenue reached $2.9 billion, rising from $2.8 billion in the same period last year, while net losses diminished to $98 million compared to $115 million. Consolidated adjusted EBITDA rose slightly to $887 million from $884 million.
CEO Tom Reeg stated the results highlight advancements in critical sectors.
“For the first quarter of 2026, we reported growth in total net revenue and adjusted EBITDA compared to the prior year,” Reeg commented. “Caesars Digital’s revenue amounted to $374 million (up from $335 million a year previously), and adjusted EBITDA reached $69 million (up from $43 million), setting new records for the first quarter.
Las Vegas operations remained consistent, with revenue stabilized at $1 billion; however, adjusted EBITDA saw a slight decline of 1.6% to $426 million. The company reported hotel occupancy rates of 95.3%, and Reeg mentioned “continued sequential improvements in trends and notable progress in the hospitality sector.”
He emphasized that business related to conventions and group gatherings continues to be vital, particularly during large events like CONEXPO-CON/AGG 2026.
President and COO Anthony Carano characterized the Las Vegas environment as “markedly improved compared to the latter half of 2025.”
The regional properties experienced a 3% revenue increase to $1.43 billion, although adjusted EBITDA slightly declined to $435 million. Reeg reflected, “The regional segment displayed improved adjusted EBITDA on a year-over-year basis after accounting for the benefits of Super Bowl LX in New Orleans last year.”
CFO Bret Yunker pointed out that overall performance remains robust.
“Our consolidated results for the first quarter illustrate the reliability of our Las Vegas and regional segments and continued growth in Caesars Digital,” Yunker stated. “We anticipate delivering strong free cash flow in 2026 due to ongoing operational momentum, reduced cash interest expenses, and lower capital expenditures.”
The company is entering a “cash flow harvesting cycle” following approximately $3 billion in renovations in recent years.
At the end of the quarter, Caesars reported $867 million in cash and cash equivalents, with total debt standing at about $11.9 billion.
In a separate announcement, in March, Caesars acquired the operations of Caesars Windsor for approximately $54 million and signed a 20-year deal with the Ontario Lottery and Gaming Corporation.
Executives refrained from commenting on reported acquisition interest from Tilman Fertitta, indicating the company would not address “market rumors or speculation.”
During the investor call, Reeg noted that Las Vegas performance remains closely linked to demand driven by events, stating the business performs “exceptionally well” during strong convention periods. “We are feeling increasingly optimistic each quarter about Las Vegas’s performance,” he remarked.