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(AsiaGameHub) – Caesars Entertainment has reported a ‘solid’ beginning to 2026, coinciding with news of a possible acquisition of the casino operator.
Speculation emerged last month that Tilman Fertitta, the billionaire proprietor of the Golden Nugget Casino and Fertitta Entertainment, is considering a $7bn (approximately $34 per share) bid for Caesars.
On the company’s Q1 earnings call, President & Chief Operating Officer Anthony Carano characterized the quarterly performance as ‘solid’, pointing to a 2.7% year-on-year (YoY) rise in net revenue to $2.9bn (Q1 2025: $2.8bn) and a $3m gain in adjusted EBITDAR to $887m.
Key achievements for the quarter featured ‘ongoing sequential improvements in Las Vegas operating trends, alongside revenue and EBITDAR expansion in the regional segment’ when adjusted for the prior year’s Super Bowl impact in New Orleans, in addition to record first-quarter digital revenues and EBITDA.
Chief Executive Officer Tom Reeg also stated he was ‘pleased with the year’s start’ and that Las Vegas is now ‘in a much stronger position’ compared to mid-2025, even though April 2026 proved ‘somewhat softer’ than expected.
Nevertheless, the robust first-quarter performance strengthens Caesars’ standing as takeover rumors involving Fertitta persist, despite the company’s refusal to address the speculation during its earnings call.
Q1 revenue:
- Las Vegas – remained level with the prior year at $1bn.
- Regional – grew 3% YoY to $1.43bn (Q1 2025: $1.39bn).
- Digital – climbed 11.6% YoY to $374m (Q1 2025: $335m).
- Managed and branded – fell 1.5% YoY to $66m (Q1 2025: $67m).
Q1 adjusted EBITDA
- Las Vegas – decreased 1.6% YoY to $426m (Q1 2025: $433m).
- Regional – declined 1.1% YoY to $435m (Q1 2025: $440m).
- Digital – surged 60.5% YoY to $69m (Q1 2025: $43m).
- Managed and branded – dropped 18.8% YoY to a $56m loss (Q1 2025: $48m loss).
In the Q1 report, Chief Financial Officer Bret Yunker commented: “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.”
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