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![Caesars Entertainment, Inc. [CZR] reports annual net loss of $828.0 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FCZR.png&w=1200&q=75)
Caesars Entertainment, Inc. [CZR] has reported a net loss of $828.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $11.5 billion
Based in RENO, Nevada, Caesars Entertainment, Inc. operates in the SERVICES sector.
In the annual report for the fiscal year ending December 31, 2023, Caesars Entertainment reported the following financial results, in millions of USD:
NET REVENUES:
- Net revenues for the year were $11,528 compared to $10,821 in 2022 and $9,570 in 2021. This represents an increase in revenue for the current reporting period compared to the previous periods.
OPERATING EXPENSES:
- Total operating expenses for the year amounted to $9,056 in 2023, $9,082 in 2022, and $8,110 in 2021.
- Operating income was reported at $2,472 for 2023, showing an improvement from $1,739 in 2022 and $1,460 in 2021.
OTHER EXPENSE:
- Total other expenses, including interest expense, loss on extinguishment of debt, and other income (loss), amounted to ($2,532) in 2023, ($2,304) in 2022, and ($2,729) in 2021.
NET INCOME:
- Caesars reported a net income of $828 million for 2023, which is a significant positive turnaround from a net loss of ($910) million in 2022 and ($1,016) million in 2021.
- Net income attributable to Caesars for the year was $786 million compared to net losses of ($899) million in 2022 and ($1,019) million in 2021.
EARNINGS PER SHARE:
- Basic income per share from continuing operations was $3.65 in 2023, a substantial increase from ($2.39) in 2022 and ($4.69) in 2021.
- Diluted income per share from continuing operations was $3.64 in 2023, again showing improvement from ($2.39) in 2022 and ($4.69) in 2021.
These financial results indicate a positive performance for Caesars Entertainment in 2023, with increased revenues and improved net income compared to the previous years. The company's profitability and earnings per share have also shown significant growth in the current reporting period.
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