NASDAQ$CZR
Caesars Entertainment Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported a decrease in net revenues and net loss compared to the prior-year period, but with growth in Caesars Digital Adjusted EBITDA.
Caesars Entertainment reported a decrease in GAAP net revenues to $2.7 billion compared to $2.8 billion in the prior-year period, and a net loss of $158 million compared to a net loss of $136 million for the same period last year. However, Caesars Digital showed positive growth with an Adjusted EBITDA of $5 million.
- GAAP net revenues were $2.7 billion, down from $2.8 billion in the comparable prior-year period.
- GAAP net loss was $158 million, compared to a net loss of $136 million in the comparable prior-year period.
- Same-store Adjusted EBITDA was $853 million, versus $947 million for the comparable prior-year period.
- Caesars Digital Adjusted EBITDA was $5 million, compared to $(4) million for the comparable prior-year period.
Headline financials
Revenue & EPS history
Caesars · Revenue · Quarterly
$2.74B
Revenue by segment
Caesars · $2.99B total across 5 segments · Q3 2023
- Regional$1.57B+2.3%52.3%
- Las Vegas$1.12B+4.0%37.4%
- Caesars Digital$215M+1.4%7.2%
- Managed & Branded$98M+40.0%3.3%
- Corporate & Other-$4M-100.0%-0.1%
Forward guidance
Caesars anticipates using free cash flows to continue to reduce debt in 2024 and expects to open the permanent casino resort facility in Virginia in December 2024.
Tailwinds
- Company remains optimistic toward improved operating results throughout the balance of the year.
- Caesars Virginia joint venture successfully closed on a new five-year $425 million pro rata bank financing.
- Financing will be used to fund the remaining capex associated with the permanent casino resort facility, which is expected to open in December 2024.
- Anticipate using free cash flows to continue to reduce debt in 2024.
- Caesars Digital delivered strong revenue growth despite lower-than-expected hold in online sports.
Headwinds
- Operating results during the first quarter in Las Vegas were offset by lower-than-expected hold.
- Regional segment results reflect weather-related weakness in January and early February.
- Caesars Digital results reflect lower-than-expected hold in online sports due to unfavorable outcomes for the Super Bowl and March Madness.
- GAAP net revenues decreased compared to the prior-year period.
- GAAP net loss increased compared to the prior-year period.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.1%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+5.5%
Avg return
30 days after
48%
22 / 46 earnings
Positive
+13.0%
Q4 2025
Best reaction
-15.4%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.3% | +0.3% | +6.3% | |
| Q4 2025 | +13.0% | +6.7% | +41.2% | |
| Q3 2025 | -15.4% | -7.4% | +5.3% | |
| Q1 2025 | -3.3% | -1.3% | -4.0% | |
| Q4 2024 | -0.9% | -9.8% | -26.4% | |
| Q3 2024 | -8.7% | -13.9% | -16.0% | |
| Q2 2024 | +9.4% | -2.4% | +1.8% | |
| Q1 2024 | -3.2% | -6.0% | -15.2% | |
| Q4 2023 | -0.6% | -2.0% | -2.1% | |
| Q3 2023 | -1.5% | +10.8% | +11.5% | |
| Q2 2023 | -6.3% | -6.0% | -6.4% | |
| Q1 2023 | -5.4% | -3.9% | -10.4% | |
| Q4 2022 | +2.3% | -5.2% | -20.3% | |
| Q3 2022 | +0.8% | -2.5% | +18.5% | |
| Q2 2022 | +7.0% | +3.5% | -7.7% | |
| Q1 2022 | -2.9% | -12.3% | -24.1% | |
| Q4 2021 | -0.8% | +6.8% | -0.4% | |
| Q3 2021 | -1.2% | -5.0% | -19.7% | |
| Q2 2021 | -1.7% | +4.6% | +19.7% | |
| Q1 2021 | +6.3% | +9.1% | +13.1% | |
| Q4 2020 | +4.0% | +3.5% | -2.5% | |
| Q3 2020 | +9.0% | +15.5% | +41.5% | |
| Q2 2020 | +4.3% | +6.6% | +40.2% | |
| Q1 2020 | +2.7% | +10.1% | +89.0% | |
| Q4 2019 | -4.2% | -18.3% | -72.8% | |
| Q3 2019 | +0.3% | +6.9% | +10.8% | |
| Q2 2019 | -1.9% | -6.4% | -11.8% | |
| Q1 2019 | -2.2% | -2.0% | -0.4% | |
| Q4 2018 | -5.9% | +0.0% | +4.7% | |
| Q3 2018 | +10.9% | +2.1% | +20.5% | |
| Q2 2018 | -14.2% | -0.7% | +12.1% | |
| Q1 2018 | +0.0% | +4.6% | +12.7% | |
| Q4 2017 | +2.0% | +8.2% | +0.1% | |
| Q3 2017 | +0.0% | +11.3% | +19.1% | |
| Q2 2017 | +1.2% | -3.2% | +12.4% | |
| Q1 2017 | +1.3% | +4.4% | +8.9% | |
| Q4 2016 | +4.5% | +1.8% | +14.5% | |
| Q3 2016 | +2.2% | +16.7% | +53.7% | |
| Q2 2016 | -1.0% | -4.0% | -1.9% | |
| Q1 2016 | +0.3% | — | — | |
| Q4 2015 | +0.3% | — | — | |
| Q3 2015 | -10.4% | — | — | |
| Q2 2015 | +8.5% | — | — | |
| Q1 2015 | +6.3% | — | — | |
| Q4 2014 | -0.2% | — | — | |
| Q3 2014 | -7.9% | — | — | |
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| Q4 2010 | — | — | — | |
| Q3 2010 | — | — | — | |
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| Q1 2010 | — | — | — |
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