Caesars Entertainment posts narrower loss on boost from sports betting business
July 29 (Reuters) - Casino operator Caesars Entertainment CZR.O posted a narrower loss for the second quarter on Tuesday, as high demand for sports betting drove strong performance in its digital unit.
The Reno, Nevada-based casino operator, which also runs online gambling businesses, has seen a surge in its digital segment amid growth in retail sports betting unit Caesars Digital.
The segment, which accounted for 10% of the company's total revenue in 2024, also includes retail and online sports betting, iGaming, poker and horse racing.
Revenue from its digital unit was at $343 million, up 24% from $276 million a year earlier. Analysts estimated $322.9 million, according to data compiled by LSEG.
Caesars posted a quarterly net loss of $82 million, or 39 cents per share, compared with a loss of $122 million, or 56 cents per share, a year ago.
Caesars' net revenue for the quarter ended June 30 was $2.9 billion, compared with $2.83 billion a year earlier.
Related Articles
What to Expect From Microsoft Q4 FY2025 Earnings: The King of AI Monetization — A $4 Trillion Market Cap Within Reach?
TradingKey - Cloud giant Microsoft (MSFT.US) will report its fiscal fourth-quarter 2025 earnings (calendar Q2) after the U.S. market close on July 30. Wall Street is bullish, expecting strong results from Azure cloud services and AI-driven growth to propel Microsoft’s market capitalization toward
Microsoft 4Q25 Earnings Preview: A Closure to a Great Fiscal Year
Microsoft will release its earnings for the fourth quarter of the fiscal 2025 on July 30th after the market closes:- 4Q25 Earnings per share: $3.38 estimate vs. 4Q24 actual of $2.95 (+15% y/y) - 4Q25 Revenue: $73.81bn estimate vs. 4Q24 actual of $64.38bn (+15% y/y)
U.S. GDP, PCE, and Fed Rate Decision Preview: U.S. Stocks May Continue to Rise
TradingKey - The United States is set to release its latest GDP and PCE data on 30–31 July 2025, with the Federal Reserve’s interest rate decision expected concurrently. Market consensus anticipates that the annualized real GDP growth rate for the second quarter will turn positive
What to Expect From Meta Q2 Earnings: AI Push, Ad Strength — But Can Profitability Hold?
TradingKey - Meta Platforms (META), the parent company of Facebook, Instagram, and WhatsApp, will release its Q2 2025 earnings after the U.S. market close on Wednesday, July 30. After nine consecutive quarters of beating expectations, analysts expect another strong performance — driven by AI-powered
Apple Q3 FY2025 Earnings Preview: Navigating Tariff Pressures, iPhone Resilience, and AI Integration
TradingKey - Apple Inc. (NASDAQ: AAPL) is set to report its Q3 FY2025 earnings on Thursday, July 31, 2025, after the U.S. market closes. The earnings call, featuring CEO Tim Cook and CFO Kevan Parekh, will commence at 2:00 p.m. Eastern Time, providing shareholders and analysts with updates on overal
