Caesars Entertainment maintained its momentum going into 2026, posting modest growth across its core verticals. The company achieved net revenue of $2.9 billion for the first quarter, a 3% year-over-year growth. Adjusted EBITDA reached $887 million, a slow but steady increase. Improving trends in Las Vegas, consistent regional performance, and continued online expansion all helped sustain growth.
The Company Aims to Capitalize on Positive Trends
Las Vegas delivered mixed results. While EBITDA decreased slightly to $426 million, Caesars’ business fundamentals improved. Increased group and convention travel pushed overall occupancy above 95%. This positive trend helped offset the decrease in leisure travel, which, while still below last year’s levels, showed signs of recovery compared to late 2025.
CEO Tom Reeg pointed to the growing importance of major events on the Strip as a means to attract tourists. While Caesars achieved strong results during weeks with large conventions, quieter periods exposed some long-term challenges. The company has been working closely with the Las Vegas Convention and Visitors Authority to attract more large-scale gatherings that can smooth out those swings.
In our Las Vegas segment, we experienced continued sequential improvement in trends and a significant improvement in the hospitality vertical.
Tom Reeg, Caesars Entertainment CEO
The regional segment experienced revenue growth of $1.4 billion, yet EBITDA declined slightly. Last year’s Super Bowl in New Orleans likely skewed these results as Caesars could not replicate the boost in 2026. However, leadership remained optimistic, noting that underlying demand remained firm due to steady customer engagement. Caesars also adjusted its marketing budget, focusing on its successful loyalty program.
The Digital Sector Recorded a Standout Performance
Caesars’ digital division saw another quarter of steady growth. Caesars Digital posted record first-quarter revenue of $374 million and EBITDA of $69 million. Growth in iCasino, alongside improved hold in sports betting, underpinned these results. Average revenue per user also increased significantly as product updates and cross-platform promotions started to gain popularity.
Our strategic investments and operational efficiencies are driving growth across our segments, particularly in the digital arena.
Tom Reeg, Caesars Entertainment CEO
Technology remains a core part of the company’s vision. Caesars is nearing the official release of its universal wallet and account system across all verticals. The initiative will improve the user experience while connecting online and offline gaming activities. It should also ensure that customers have a reason to visit brick-and-mortar venues, balancing the sector.
Caesars expects increased cash generation in 2026 due to lower capital spending and reduced interest costs. Management plans to use extra cash for debt reduction and share repurchases. Meanwhile, the company is considering a potential industry-shaping deal. Discussions with Tilman Fertitta over a possible acquisition remain ongoing, though no agreement has been finalized. Any deal could significantly alter Caesars’ balance sheet and competitive position in 2026 and beyond.
Caesars Entertainment maintained its momentum going into 2026, posting modest growth across its core verticals. The company achieved net revenue of $2.9 billion for the first quarter, a 3% year-over-year growth. Adjusted EBITDA reached $887 million, a slow but steady increase. Improving trends in Las Vegas, consistent regional performance, and continued online expansion all helped