NASDAQ$CZR
Caesars Entertainment Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
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.
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.
Headline financials
Revenue & EPS history
Caesars · Revenue · Quarterly
$2.88B
Revenue by segment
Caesars · $2.88B total across 5 segments · Q2 2023
- Regional$1.46B+0.4%50.7%
- Las Vegas$1.13B-1.2%39.2%
- Caesars Digital$216M+42.1%7.5%
- Managed & Branded$72M-2.7%2.5%
- Corporate & Other$2M+200.0%0.1%
Forward guidance
Expect to continue reducing debt and leverage in the second half of 2023.
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 Q2 2023
-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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