Caesars Entertainment Reports $2.6B in Revenue for Q4 2021

Caesars Entertainment has reported $2.6bn in revenue for the fourth quarter of 2021, up from $1.6bn for the prior-year period.

The company’s Las Vegas operations represented $1.04bn of the total, compared to $447m in Q4 2020. Regional operations were, however, the biggest earner, with revenue amounting to $1.36bn. This was up from $1.02bn in Q4 2020.

Caesars Digital reported revenue of $116m, compared to $37m in the prior-year period. And representing the other $72m was Managed and Branded, up from $66m in Q4 2020.

The group reported a net loss of $434m compared to $555m for the prior-year period. Adjusted EBITDA was $581m, compared to $348m.

For the full year ended 31 December 2021, revenue amounted to $9.6bn, compared to $3.6bn for the comparable prior-year period. The company posted a net loss of $1bn compared to a net loss of $1.8bn, while Adjusted EBITDA for the period was $3bn, compared to $1.1bn for the prior-year period.

Recent highlights included Caesars Entertainment exceeding its stated synergy target from its merger with Eldorado Resorts in July 2020, while Caesars Sportsbook is currently live in 22 states and jurisdictions, 16 of which offer mobile wagering.

“Our quarterly operating results reflect new fourth quarter records for Adjusted EBITDA and Adjusted EBITDA margin in both our Las Vegas and Regional segments,” Tom Reeg, CEO of Caesars Entertainment, said.

“Caesars Sportsbook continues to exceed our expectations for new customer registrations, deposits and market share, especially in recently launched jurisdictions.”