Poor start to 2024 a ‘butt-kicking,' Caesars CEO says [Yahoo! Finance]
Caesars Entertainment, Inc. (CZR)
Last caesars entertainment, inc. earnings: 2/25 04:30 pm
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Source: Yahoo! Finance
But CEO Tom Reeg knows when to put the “Veni, vidi, vici” narrative (“I came, I saw, I conquered”) on the shelf after a bad performance. But what's the Latin for “we got our butt kicked”? “We're not in the habit of delivering quarters like this,” Reeg told investors Tuesday on the first-quarter earnings call, where the company reported a 15.7% drop in Las Vegas profits compared to Q1 of 2023, and a 10% drop overall. “This was not an instance of a few players beating us … this was kind of a repeated butt-kicking broadly based throughout the quarter,” Reeg said. Overall, Caesars reported $1.02 billion in net revenue in Las Vegas, with net income of $198 million and adjusted EBITDA of $440 million. Companywide, revenue was $2.74 billion, net income was a loss of $158 million and adjusted EBITDA was $853 million. EBITDA is earnings before interest, taxes, depreciation and amortization. “Recall last year's first quarter was gi-normous,” Reeg said. Comparisons to last year amplify
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CZR
Earnings
- 4/30/24 - Miss
CZR
Sec Filings
- 5/15/24 - Form PX14A6G
- 5/9/24 - Form 8-K
- 5/7/24 - Form 4
- CZR's page on the SEC website