Explore Caesars Entertainment‘s newest financial report for Q4 2023 and the entire fiscal year, which ended on December 31st of the previous year, to gain insight into its performance in the gaming and entertainment industries.
Revenue Insights
In Q4, Caesars reported a GAAP net income of $2.83 billion, showing a slight uptick of 0.35% from the previous year. Despite this, the quarter witnessed a net loss reduction to $72 million, marking a significant improvement from the $148 million loss in 2022.
However, caesars palace’ same-store locations experienced a 2% drop in adjusted EBITDA, totaling $930 million, compared to $949 million in the previous year. On the contrary, Caesars Digital saw a remarkable surge in adjusted EBITDA, soaring to $29 million from a $5 million loss in the same period of 2022, reflecting a remarkable 680% growth.
For FY 2023, Caesars reported a GAAP net income of $11.5 billion, a 6.48% increase from the previous year’s $10.8 billion. Notably, the operator achieved a net profit of $786 million for the entire year, marking a substantial improvement from the $899 million net loss in 2022.
Similarly, same-store adjusted EBITDA for the entire year surged to $3.9 billion, a notable increase of 21.88% from $3.2 billion in 2022. Additionally, Caesars Digital witnessed a turnaround, recording an adjusted EBITDA of $38 million, a stark contrast from the $666 million loss in 2022, representing a significant year-over-year growth of 105.41%.
CEO’s Perspective
CEO of Caesars Entertainment, Tom Reeg, expressed satisfaction with the results, highlighting consolidated net revenue growth, reduced net loss, and stable consolidated adjusted EBITDA. He attributed the positive outcomes to the substantial increase in Caesars Digital net revenue, which bolstered a 10% adjusted EBITDA margin in Q4. Reeg further emphasized the full-year benefits derived from the significant surge in Caesars Digital net revenues to approximately $1.0 billion, coupled with a remarkable improvement in Adjusted EBITDA.
Strategic Acquisitions
Caesars Entertainment’s financial disclosure follows its recent acquisition of WynnBet’s Michigan online gaming operations. This strategic move solidifies Caesars’ presence in the burgeoning regulated online gaming market in Michigan and reinforces its position in the iGaming sector. Additionally, the agreement entails expanded access rights to the online gaming market and strategic agreement with the Sault Ste Marie Tribe of Chippewa Indians, allowing Caesars to operate additional online brands in the state.
Cybersecurity Incident

In a separate development, Caesars Entertainment faced a cybersecurity breach orchestrated by UNC 3944, also known as Scattered Spider. The hackers demanded a ransom to prevent data leaks, prompting Caesars to take swift action to mitigate the impact of the breach.
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Frequently Asked Questions about Caesars Entertainment
What does Caesars Entertainment own?
Caesars Entertainment owns and operates numerous hotels, resorts, and casinos worldwide, including iconic properties like Caesars Palace in Las Vegas, Harrah’s, Bally’s, and many others.
Who is the CEO of Caesars Entertainment?
The CEO of Caesars Entertainment is Tom Reeg. He has been instrumental in guiding the evolution global the company through various strategic initiatives and overseeing its operations.
Who owns Caesars in Vegas?
Caesars Entertainment Corporation owns Caesars Palace and several other hotel casinos on the Las Vegas Strip. The company is a major player in the hospitality and gaming industry.
How much debt does Caesars Entertainment have?
As of the latest financial reports, Caesars Entertainment has a significant amount of debt, but specific figures may vary. For accurate and up-to-date information, it is advisable to refer to the company’s financial statements or official announcements.