Future digital growth to be driven by launches in new jurisdictions with Alberta app up next
Caesars Entertainment’s digital segment generated a record high for the first quarter of $374m, helping drive the Las Vegas giant to a Q1 total of $2.9bn, up $77m or three per cent year-over-year.
Management said, ‘Group business this year should be another record on top of last year’s record.’ The operator’s Las Vegas Adjusted EBITDAR was down $7m to $426m whilst Regional Segment Net Revenue was up three per cent to $1.4bn. Caesars said that future digital growth would be driven by launches in new jurisdictions with the Alberta app launch next on the roadmap. Other highlights for the quarter included continued sequential improvements in operating trends in Las Vegas along with revenue and EBITDAR growth in the regional segment, after excluding the impact of the Super Bowl in New Orleans last year.
In terms of the digital record, Eric Hession President of Caesars Digital, said: “In iCasino, we delivered 18 per cent net revenue growth driven by strength in volume and average monthly active users. We continued to elevate our product offering during the quarter to include new in-house games, improved bonusing capability and incented cross-play with brick-and-mortar through our remote exclusive product launches and customer events. Overall, in Q1, our total monthly unique players increased approximately two per cent to 512,000, and average revenue per monthly player was up 15 per cent to $219. From a tech perspective, we continue to convert new jurisdictions to our universal wallet and proprietary player account management system, which is now live in 27 jurisdictions and should be live in all jurisdictions by the end of April this year.”
In terms of land-based, Anthony Carano, President and COO, said: “We experienced a significant sequential improvement in the hospitality vertical in Q1 with occupancy of 95.3 per cent in the quarter and year-over-year ADR growth of one per cent. This marks a dramatic improvement versus the second half of 2025. Occupancy and rate trends benefited from a strong group and convention lineup with group-occupied rooms during the quarter. While leisure trends were still down on a year-over-year basis versus the second half of 2025. We remain focused on elevating our product offerings in Las Vegas. Our newly renovated villas at Caesars Palace, guest room product and casino floor remodels continue to generate excellent feedback from our guests. Looking ahead, I’m excited for the opening of the Omnia day club at Caesars Palace on May 15. The full remodel of the Augustus Tower at Caesars Palace is due for completion by early 2027 and the opening of Category 10 by Luke Combs [a fan-first, next-level bar, restaurant, live music and entertainment venue] later this year.”
Tom Reeg, Chief Executive Officer of Caesars Entertainment, said: “Las Vegas just feels like a healthier market than it did, say, 10 months ago for us. In our Las Vegas segment, we experienced continued sequential improvement in trends and a significant improvement in the hospitality vertical with occupancy of 95.3 per cent and year-over-year growth in Average Daily Rate. The Regional segment delivered improved adjusted EBITDA on a year-over-year basis after excluding the benefits of Super Bowl LX in New Orleans last year. Last year, the Super Bowl in New Orleans brought a little over $10m of incremental EBITDA that obviously didn’t repeat with the Super Bowl, not being in one of our regional markets. But absent that, Regionals had a growing quarter, are off to a very strong start in April. So we feel good about regionals, the rest of the year.”
“On March 3, 2026, Caesars acquired the operations of Caesars Windsor for approximately $54m and entered into a 20-year operating agreement with the Ontario Lottery and Gaming Corporation. We are excited to add Caesars Windsor to our Regional portfolio. Our first quarter consolidated results demonstrate the stability of our Las Vegas and Regional segments and the continued growth in Caesars Digital. We expect to deliver strong free cash flow in 2026 as a result of continued operating momentum, lower cash interest expense, and lower capex,” said Bret Yunker, Chief Financial Officer.
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Future digital growth to be driven by launches in new jurisdictions with Alberta app up next Caesars Entertainment’s digital segment generated a record high for the first quarter of $374m, helping drive the Las Vegas giant to a Q1 total of $2.9bn, up $77m or three per cent year-over-year. Management said, ‘Group business this year…
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