(Reuters) – Caesars Entertainment on Tuesday swung to a fourth-quarter profit from a year-ago loss, driven by strong performance from its casino operations in Las Vegas.
The Reno, Nevada-based casino operator, active in both casino and online gambling segments, has seen a surge in occupancy at its Las Vegas properties.
“As we look ahead to 2025, the brick and mortar operating environment remains stable and we are expecting another year of strong growth in our Digital segment,” said CEO Tom Reeg.
Earlier this month, Wynn Resorts also beat analysts’ estimates for fourth-quarter results, driven by strong business in Las Vegas and other regional properties.
The company posted a quarterly net income of $11 million, or 5 cents per share, compared to a loss of $72 million, or 34 cents per share, a year ago.
Caesars’ revenue for the quarter ended December 31 came in at $2.8 billion, compared with $2.83 billion a year ago.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Krishna Chandra Eluri and Alan Barona)
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