Caesars Entertainment posts narrower first-quarter loss on sports betting surge

Caesars Entertainment

29/04/2025 21:40

April 29 (Reuters) - Casino operator Caesars Entertainment CZR.O posted a narrower loss on Tuesday, driven by strong performance in its digital unit amid high demand for sports betting.

The Reno, Nevada-based company, which manages online gambling segments, has experienced a surge in its digital segment due to growth in retail sports betting.

Shares of the company rose as much as 3% after the bell.

Revenue from its digital unit was at $335 million, up from $282 million a year earlier.

Caesars posted a quarterly net loss of $115 million, or 54 cents per share, compared to a loss of $158 million, or 73 cents per share, a year ago.

Caesars' revenue for the quarter ended March 31 came in at $2.79 billion, compared with $2.74 billion a year ago.

 (Reporting by Anshuman Tripathy in Bengaluru; Editing by Tasim Zahid)

 ((Anshuman.Tripathy@thomsonreuters.com;))