Q1 2026 Caesars Entertainment Inc Earnings Call Transcript
Key Points
- Caesars Entertainment Inc (CZR) reported a 3% year-over-year increase in consolidated net revenues, reaching $2.9 billion for the first quarter of 2026.
- The Digital segment achieved record Q1 revenues and EBITDA, with net revenue of $374 million and adjusted EBITDA of $69 million.
- Occupancy in Las Vegas improved significantly to 95.3% with year-over-year ADR growth of 1%, indicating strong demand.
- The regional segment saw a 3% increase in net revenues year over year, driven by strategic marketing reinvestment and the inclusion of Caesars Windsor.
- Caesars Rewards continues to be a primary customer acquisition channel, particularly benefiting the digital segment with efficient customer acquisition costs.
- Adjusted EBITDAR in Las Vegas decreased slightly to $426 million from $433 million the previous year, despite flat revenues.
- The regional segment's adjusted EBITDAR decreased by $5 million year over year, partly due to the absence of the Super Bowl in New Orleans.
- April was softer than anticipated for Las Vegas, with lower hold compared to the previous year, impacting expected growth.
- The company faces competitive pressures in the digital space, with some peers experiencing higher customer acquisition costs.
- There are ongoing challenges in the regional markets with competition and the need to adjust marketing reinvestment strategies.
Good day, and thank you for standing by. Welcome to the Caesars Entertainment Inc. 2026 first-quarter earnings conference 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.
Well, thank you, Daniel, and good afternoon to everyone on the call. Welcome to our conference call to discuss our first-quarter 2026 earnings.
This afternoon, we issued a press release announcing our financial results for the period ended March 31, 2026. A copy of the press release and our investor presentation are available in the Investor Relations section of our website at investor.caesars.com.
As usual, joining me on the call today are Tom Reeg, our CEO; and Anthony Carano, our President and Chief Operating Officer; Bret Yunker, our
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