written and last updated by
Sam Smith at
22 Feb 2023
Journalist, Editorial Department
Leading hotel and casino operator Caesars Entertainment has released its latest trading report, detailing results for the full year 2022 and the fourth quarter in particular. Net revenue from January to December 2022 reached $10.8 billion, a significant increase from the $9.6 billion reported during the same period in 2021.
The report indicates that Caesars' net loss for 2022 was $899 million, down from $1 billion in 2021. The company saw strong performance in its digital and regional segments. Caesars Digital generated $548 million in revenue in 2022, compared to $337 million the previous year. Regional profits rose from $5.5 billion in 2021 to $5.7 billion in 2022. Additionally, Caesars Las Vegas reported operating revenue of $4.3 billion in 2022, a notable increase from $3.4 billion in 2021.
In the fourth quarter of 2022, the company reported net revenue of $2.8 billion, up from $2.6 billion in the same period of 2021. The net loss for this quarter significantly decreased from $434 million last year to $148 million.
Caesars CEO Tom Reeg acknowledged the company's successful fourth quarter, attributing the positive results to its operations in regional markets and Las Vegas.
Meanwhile, Las Vegas Sands is considering retaining Nassau Coliseum as part of its entertainment complex on Long Island.
