The earnings call presented a mix of positive and negative aspects. The highlights included record performance in the Digital segment, successful strategic investments, and financial optimizations including debt reduction. However, challenges in the Las Vegas segment and one-time impacts in the regional markets were notable lowlights. Overall, the positive aspects, particularly the strong performance and growth in the Digital segment, outweigh the negatives.

Company Guidance

During the Caesars Entertainment, Inc. 2025 Second Quarter Earnings Call, the company reported consolidated net revenues of $2.9 billion and an adjusted EBITDA of $955 million. The Digital segment achieved a record adjusted EBITDA of $80 million, marking a significant 100% increase from the previous year. Las Vegas' same-store adjusted EBITDA was $469 million, with occupancy at 97%, slightly down from 99% the previous year. Regional adjusted EBITDA was reported at $439 million, negatively impacted by $30 million due to onetime events, but promising trends in gaming revenues were noted. Caesars Digital posted net revenues of $343 million, a 24% year-over-year increase, with sports and casino revenues up 28% and 51%, respectively. The company is optimistic about achieving the $0.5 billion EBITDA target for the Digital segment by 2026. Furthermore, Caesars has undertaken strategic reinvestments, including new slot capital and upgrades in Las Vegas, and plans to continue refining its marketing strategies to drive profitable growth.

Record Digital Segment Performance

The Digital segment delivered its best quarter ever with $80 million of adjusted EBITDA, a 100% increase from the previous year. Net revenues for Caesars Digital were $343 million, up 24% from the prior year.

Successful Strategic Investments

New investments at Flamingo in Las Vegas, including new attractions, are generating strong returns. The rebranding of Harvey Lake Tahoe to Caesars Republic Lake Tahoe received positive feedback.

Debt Reduction and Financial Optimization

Caesars fully redeemed its most expensive debt, leading to annual free cash flow savings exceeding $40 million. The effective tax rate was reduced, aligning with the BBB's increased interest and depreciation expense deductions.

Strong Regional Performance

Regional revenues were up year-over-year due to the addition of two new properties and strong rated play trends. Early results from strategic customer reinvestments are promising.

Caesars Entertainment (CZR) Earnings, Revenues Date & History

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CZR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	0.06 / -	-0.04	―	―	―
Jul 29, 2025	2025 (Q2)	<0.01 / -0.28	-0.56	50.89% (+0.29)
Apr 29, 2025	2025 (Q1)	-0.20 / -0.54	-0.73	26.03% (+0.19)
Feb 25, 2025	2024 (Q4)	-0.13 / 0.05	-0.34	114.71% (+0.39)	―
Oct 29, 2024	2024 (Q3)	0.21 / -0.04	0.34	-111.76% (-0.38)	―
Jul 30, 2024	2024 (Q2)	0.12 / -0.56	4.26	-113.15% (-4.82)	―
Apr 30, 2024	2024 (Q1)	-0.08 / -0.73	-0.63	-15.87% (-0.10)	―
Feb 20, 2024	2023 (Q4)	-0.04 / -0.34	-0.7	51.43% (+0.36)	―
Oct 31, 2023	2023 (Q3)	0.29 / 0.34	0.24	41.67% (+0.10)	―
Aug 01, 2023	2023 (Q2)	0.33 / 4.26	-0.57	847.37% (+4.83)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CZR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$28.47	$27.89	-2.04%
Apr 29, 2025	$27.99	$27.06	-3.32%
Feb 25, 2025	$34.87	$34.56	-0.89%
Oct 29, 2024	$45.28	$41.56	-8.22%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.