Caesars 21Q1 results boost as consumers return to normal

Caesars Entertainment

U.S. casino operator Caesars Entertainment said its first quarter 2021 results were a significant step up from its fourth quarter 2020 results, with consumers’ behavior starting to return to normal following a difficult year.
Net revenues in the first quarter reached $1.7 billion, down 16 percent year-on-year but up from $1.5 billion in 20Q4.
Net loss also narrowed from the previous quarter, reaching $423 million, though it widened significantly from 20Q1, which was considered pre-pandemic.
Tom Reeg, Chief Executive Officer of Caesars Entertainment, Inc., commented, “Our first quarter results improved significantly versus the fourth quarter of 2020 as the pace of vaccinations across the country accelerated and consumers started to resume more normal behavior. We are excited to see the dramatic improvement in operating efficiencies throughout our enterprise which we believe are sustainable going forward.”