Q1 2025 Caesars Entertainment Inc Earnings Call Transcript
Key Points
- Caesars Entertainment Inc (CZR) reported a 2% increase in consolidated net revenues to $2.8 billion and a 4% increase in total adjusted EBITDA to $884 million year over year.
- The Las Vegas segment achieved the third-best Q1 performance on record, with same-store adjusted EBITDAR of $433 million and improved EBITDA margins by 50 basis points.
- Caesars Digital segment saw a 19% increase in net revenue to $335 million and a significant rise in adjusted EBITDA by $38 million year over year.
- The Regional segment experienced a 2% increase in adjusted EBITDAR, driven by stable same-store trends and contributions from New Orleans and Danville.
- Caesars Entertainment Inc (CZR) successfully implemented cost controls in labor, marketing, and reinvestment levels, leading to a flow-through rate exceeding their annual 50% target.
- Las Vegas occupancy and cash ADR were slightly down, and the segment faced tough comparisons due to the Super Bowl and weather disruptions.
- The Regional segment was negatively affected by weather disruptions and the loss of an extra operating day compared to the previous year.
- Caesars Digital faced challenges with poor hold during March Madness, impacting revenue growth.
- The company anticipates a decline in skin revenues and World Series of Poker revenues, which could impact future quarters.
- Caesars Entertainment Inc (CZR) is cautious about potential economic impacts from policy changes in the US, which could affect future performance.
Good day, and thank you for standing by. Welcome to the Caesars Entertainment first-quarter 2025 earnings call. (Operator instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Brian Agnew, Senior Vice President of Corporate Finance, Treasury, and Investor Relations. Please go ahead.
Thank you, Liz, and good afternoon to everyone on the call. Welcome to our conference call to discuss our first-quarter 2025 earnings. This afternoon, we issued a press release announcing our financial results for the period ended March 30, 2025. A copy of the press release is available in the Investor Relations section of our website at investor.caesars.com, along with the supplementary earnings presentation that management will reference during their comments today on the call.
Joining me on the call today are Tom Reeg, our CEO; Anthony Carano, our President and
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