Caesars generates $2.9bn revenue for Q1, decreases net loss by $17m

Caesars Entertainment has reported its financial results for the first quarter of 2026, as the operator managed to increase net revenue by 2.7% for a total of $2.9bn, as well as improve its net loss during the period by $17m. 

The operator’s net revenue for Q1 2026 was primarily driven by its regional segment, which accounted for $1.4bn of revenue and increased 3%. Despite generating just over $1bn of revenue during the quarterly period, Caesars’ Las Vegas segment remained stagnant year-over-year. 

Caesars Digital reported a Q1 2026 revenue of $374m, representing growth of 11.6% while managed and branded revenue fell 1.5% to $66m. 

The $98m net loss witnessed by Caesars during Q1 2026 equates to a 14.8% decrease from the $115m net loss reported for the first quarter of 2025. While net income from Las Vegas operations decreased 0.6% for Q1 2026, regional businesses reported a $20m loss during the quarterly period. 

Along with the increase in net revenue for Q1 2026, Caesars grew adjusted EBITDA by 0.3% to $887m, led by regional operations with $435m even while the figure decreased 1.1% from the prior year period. Las Vegas adjusted EBITDA totaled $426m during Q1 2026 and fell 1.6%, while Caesars Digital’s $69m equates to an increase of 60.5%. 

Casino operations led all verticals in revenue for the first quarter of 2026, generating nearly $1.7bn for an increase of 4.5%. Food & beverage and hotel operations accounted for $424m and $487m of revenue during Q1 2026, respectively, equating to a decrease of 2.5% but growth of 1% for the latter. 

Caesars’ operating expenses during the first quarter of 2026 were nearly $2.4bn and increased 2.8%, but operating income still managed to rise 2.5% year-over-year to approximately $500m. 

Casino expenses grew 4.8% to $902m during Q1 2026, while food & beverage operations accounted for $274m of Caesars’ total expenses and decreased 0.4%. Hotel operations produced $156m of expenses and increased 3.3%, with general & administration costing an additional $504m for the quarterly period. 

In late April, Caesars expanded its retail sportsbook presence to Northfield Park Racino and the Westgate Superbook, as well as extended the negotiation period for a potential $18bn takeover bid from Tilman Fertitta. 

The collaboration between Westgate Las Vegas and Caesars Entertainment is still pending approval from the Nevada Gaming Commission, with the SuperBook having originally debuted in 1986.