Caesars increases revenue 2.9% in Q2 2025, reports net loss of $82m

Caesars Entertainment has reported its financial performance throughout the second quarter of 2025, having generated a net revenue increase of 2.9% year-over-year for a total of $2.9bn, but also witnessing a net loss of $82m for the period. 

The operator’s adjusted EBITDA also decreased from the prior year period, falling 4.1% to approximately $955m in Q2 2025. Despite reporting a net income loss of $82m throughout Q2 2025, the figure represents a 34.9% decrease year-over-year from the loss generated in the second quarter of 2024. 

Regional operations for Caesars contributed the highest revenue of any sector in Q2 2025, increasing 3.6% from the prior year period for a total of $1.4bn, while Las Vegas operations reported a decrease in revenue of 3.7% year-over-year but still accounted for nearly $1.1bn. 

Caesars Digital generated the largest increase in revenue year-over-year, however, rising by 24.3% from the prior year period to $343m. Over the first half of 2025, Caesars online operations produced $678m, increasing 21.5% year-over-year. 

“Our Caesars Digital segment posted one of its strongest quarters ever, as momentum continues to build toward the financial goals that we originally laid out in 2021,” Caesars CEO Tom Reeg said. 

“In Las Vegas, we posted solid gaming results in the face of softer market demand in our hospitality verticals. Net Revenues in our Regional segment increased 4% driven primarily by Caesars Virginia and New Orleans, coupled with strategic reinvestment into our Caesars Rewards database.”

Good to know: To celebrate the exclusive launch of AGS title Long Bao Bao on Caesars Palace Online Casino, Horseshoe Online Casino and Caesars Sportsbook & Casino in New Jersey, the operator hosted two live events for its VIP and online casino players

While regional operations managed to increase its revenue from the prior year period, the sector still reported a net loss of $11m in the second quarter of 2025, decreasing its loss by 78.4% year-over-year. Las Vegas operations reported a net income of $212m, falling by 20.9% year-over-year, while Caesars Digital produced $39m of net income throughout the period. 

For adjusted EBITDA in Q2 2025, only Caesars Digital reported an increase from the prior year period, rising by 100% year-over-year to account for $80m. Regional and Las Vegas operations generated $439m and $469m of adjusted EBITDA throughout the second quarter of 2025, respectively, equating to decreases of 6.4% and 8% from the prior year period. 

In Q2 2025, Caesars reported a casino revenue of nearly $1.7bn for the period, representing an increase of 7.1% year-over-year. Food & beverage and hotel operations reported Q2 2025 revenues of $428m and $509m, respectively, decreasing by just $7m and $5m from the figures generated throughout the second quarter of 2024. 

While the company still reported a net loss for Q2 2025, its operating income throughout the period was reported to be $526m, increasing by nearly 4% from the prior year period. Operating expenses increased 2.5% year-over-year for a total of $2.4bn, primarily driven by casino operations which accounted for $887m in Q2 2025.

The operator also continues to push its bid for a new property in New York, as Caesars Palace Times Square partnered with Reverend Al Sharpton and Cadre Founder Ryan Williams on June 25 to pursue an inclusive ownership model for the hotel casino.

Kirk Geller

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