{"id":46,"date":"2024-06-12T07:57:42","date_gmt":"2024-06-12T04:57:42","guid":{"rendered":"https:\/\/freespinsnodeposituk.icu\/2024\/06\/12\/caesars-entertainment-posts-strong-2022-revenue-despite-net-loss\/"},"modified":"2024-06-13T11:59:54","modified_gmt":"2024-06-13T08:59:54","slug":"caesars-entertainment-posts-strong-2022-revenue-despite-net-loss","status":"publish","type":"post","link":"https:\/\/freespinsnodeposituk.icu\/2024\/06\/12\/caesars-entertainment-posts-strong-2022-revenue-despite-net-loss\/","title":{"rendered":"Caesars Entertainment Posts Strong 2022 Revenue Despite Net Loss"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/EyCoNpL1v7Y\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Caesars Entertainment experienced a remarkable year, generating an astounding $10.8 billion in total revenue throughout 2022. This represents a 13% surge compared to the preceding year! This notable expansion was driven by robust results in both their Las Vegas and local markets.<\/p>\n<p>Despite the substantial revenue, the corporation still posted a net deficit of $899 million. Nevertheless, there&#8217;s a positive aspect: this number is actually an enhancement from the $1 billion deficit they encountered the prior year.  Crucially, their adjusted EBITDA, a vital indicator of profitability, attained $3.2 billion for the entire year.<\/p>\n<p>The positive trend persisted into the final quarter, with total revenue ascending 7% to reach $2.8 billion.  Their adjusted EBITDA for the quarter was a solid $957 million, and their net deficit contracted to $148 million.<\/p>\n<p>Tom Reeg, Chief Executive Officer of Caesars Entertainment, was justifiably optimistic: &#8220;Our final quarter concluded another exceptional year&#8230;with both our Las Vegas and regional divisions establishing fourth quarter Adjusted EBITDA records. Customer interest stayed strong across our divisions, and we are hopeful about the upcoming year.&#8221;<\/p>\n<p>As of December 31st, 2022, Caesars Entertainment possessed $1 billion in cash and cash equivalents, which encompassed $265 million in restricted cash.  They did carry a total debt burden of $13.1 billion. <\/p>\n<p>Chief Financial Officer Bret Yunker emphasized their dedication to bolstering their financial standing: &#8220;In 2022, we permanently decreased total debt by over $1.2 billion, leading to total leverage of 4.4x as computed under our bank credit agreement as of December 31, 2022. Moreover, we effectively extended $750 million of debt maturities into 2024 and 2025 through our $3 billion bank syndication finalized in October 2022 and concluded a $450 million debt capital markets issuance in February 2023.&#8221;<\/p>\n<p>In summary, while still contending with a net deficit, Caesars Entertainment exhibited remarkable revenue expansion and a commitment to enhancing its financial structure, positioning itself for a potentially even more robust 2023. <\/p>\n<p>In December of the previous year, PlayAGS and Caesars Entertainment&#8217;s online gaming division, Caesars Sportsbook and Casino, opted to strengthen their collaborative efforts. <\/p>\n<p>&#8220;The integration of AGS&#8217; games into our online casino game collection sparks immense excitement within us,&#8221; remarked Mathew Sunderland, Senior Vice President of iGaming at Caesars Digital. &#8220;Their exceptional performance in both digital and brick-and-mortar casino environments gives us great confidence that these new offerings will resonate strongly with our player base.&#8221; <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Caesars Entertainment experienced a remarkable year, generating an astounding $10.8 billion in total revenue throughout 2022. This represents a 13% surge compared to the preceding year! This notable expansion was&hellip;<\/p>\n","protected":false},"author":24,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Caesars Entertainment Hits $10.8 Billion Revenue: What<\/title>\n<meta name=\"description\" content=\"Caesars Entertainment raked in a record $10.8 billion in revenue in 2022, a 13% jump! But despite this surge, they still posted a net loss. 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