Caesars’ Revenue Climbs to $2.9 Billion as Digital Segment Hits Q1 Record

(AsiaGameHub) –   Caesars Entertainment kicked off 2026 with increased revenue, a reduced net loss, and record-breaking first-quarter results from Caesars Digital—even as casino margins remained under pressure.

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Good to Know

• Caesars posted Q1 revenue of $2.9 billion, up from $2.8 billion in the prior year.
• Caesars Digital’s revenue rose to $374 million, with adjusted EBITDA climbing to $69 million.
• The company closed the quarter with $867 million in cash and approximately $11.9 billion in debt.

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Digital Segment Plays a Larger Role in Q1 Results

Caesars Digital provided the company with its most distinct growth trajectory in the first quarter. Revenue in the segment grew from $335 million to $374 million, while adjusted EBITDA increased from $43 million to $69 million.

CEO Tom Reeg said:

“In the first quarter of 2026, we delivered growth in total net revenue and adjusted EBITDA versus last year.

“Caesars Digital revenue of $374 million (up from $335 million a year ago) and adjusted EBITDA of $69 million (up from $43 million a year ago) achieved record first-quarter results.”

Across its entire business, Caesars recorded $2.9 billion in revenue, an increase from $2.8 billion the previous year. Net loss narrowed to $98 million from $115 million. Consolidated adjusted EBITDA reached $887 million, just slightly above the $884 million reported last year.

Las Vegas maintained stable top-line performance. Revenue stayed at $1 billion, while adjusted EBITDA slipped 1.6% to $426 million. Hotel occupancy hit 95.3%, and executives pointed to improved demand following a weaker second half of 2025.

President and Chief Operating Officer Anthony Carano called Las Vegas trends “a dramatic improvement versus the second half of 2025.”

Reeg also noted that convention and group demand continues to play a significant role, with CONEXPO-CON/AGG 2026 among the major events supporting the market. He said:

“We feel better each quarter about how Vegas is performing,”

Regional Casinos Remain Stable Amid Shift to Cash Focus

Regional revenue rose 3% to $1.43 billion, though adjusted EBITDA dipped to $435 million. Reeg explained the segment looked stronger when excluding the benefit of last year’s Super Bowl LX in New Orleans from the comparison:

“The regional segment delivered improved adjusted EBITDA on a year-over-year basis after excluding the benefits of Super Bowl LX in New Orleans last year.”

Chief Financial Officer Bret Yunker described the quarter as stable and tied future results to enhanced cash generation. Caesars has spent roughly $3 billion on renovations in recent years and now expects a “cash flow harvesting cycle.”

Yunker said:

“Our first-quarter consolidated results demonstrate the stability of our Las Vegas and regional segments and the continued growth in Caesars Digital,

“We expect to deliver strong free cash flow in 2026 as a result of continued operating momentum, lower cash interest expense, and lower capex.”

Caesars also completed the $54 million acquisition of Caesars Windsor operations in March and entered a 20-year agreement with the Ontario Lottery and Gaming Corporation.

Executives declined to address reported takeover interest from Tilman Fertitta, stating the company will not comment on “market rumors or speculation.”