Caesars Entertainment reports a decline in revenue from the Las Vegas segment

Caesars Entertainment (NASDAQ:CZR) dipped in postmarket trading on Tuesday after posting a mixed Q2 earnings report.

Revenue was up 2.8% year over year to $2.91 billion for the quarter that ended on June 30. The Las Vegas segment saw revenue fall 3.7% during the quarter, while the regional casino segment saw a 3.6% increase. Notably, the Caesars Digital segment saw revenue pop 24% to $343 million and generate adjusted EBIDTA of $80 million, which was double last year’s tally.

Same-store adjusted EBITDA was reported at $955 million, vs. $996 million a year ago. EPS was reported at -$0.39 vs. $0.05 consensus and -$0.56 a year ago.

On the balance sheet, Caesars (NASDAQ:CZR) had $12.3 billion in aggregate principal amount of debt outstanding. Total cash and cash equivalents were $982 million, excluding restricted cash of $104 million.

“Our Caesars Digital segment posted one of its strongest quarters ever, as momentum continues to build toward the financial goals that we originally laid out in 2021. In Las Vegas, we posted solid gaming results in the face of softer market demand in our hospitality verticals. Net revenues in our regional segment increased 4%, driven primarily by Caesars Virginia and New Orleans, coupled with strategic reinvestment into our Caesars Rewards database,” stated CEO Tom Reeg.

Shares of Caesars Entertainment (CZR) were down 1.7% in postmarket trading after shedding 3.2% during the regular session.