Caesars Entertainment Revenue Rises Before Fertitta Takeover

Caesars reported net revenues of $3.0 billion for the quarter ended June 30, 2026, up 3% from $2.9 billion a year earlier, according to the company's earnings release. 

The growth did not come from the Strip. Las Vegas net revenues fell 3.5% to $1.02 billion, and the segment's adjusted EBITDA dropped 12.6% to $410 million, a sign that the market's post-pandemic surge continues to cool. Across the first half of 2026, group net revenues reached $5.86 billion, up 2.8% year on year.

The quarter's strength came from Caesars' regional casinos, where net revenues rose 9.4% to $1.57 billion and adjusted EBITDA climbed 11.2% to $488 million. Caesars Digital, the arm that runs the company's online casino and sportsbook, grew net revenues 2.3% to $351 million, though its adjusted EBITDA eased to $68 million from $80 million a year earlier. 

Over the six months, regional net revenues rose 6.3% to $3.0 billion, underlining how the segment has become the group's steadiest earner.

Caesars Palace Online Casino is one of the larger real money casino apps in the United States, but it is only live in the states that have legalised online casino play. Players can register and deposit in four states:

• Michigan online casinos
• Pennsylvania online casinos
• New Jersey online casinos
• West Virginia online casinos

Elsewhere in the country real money online casino games from Caesars are not available, though the brand runs retail casinos and, in many states, online sports betting.

On a consolidated basis Caesars trimmed its net loss to $62 million, or $0.30 per share, from a loss of $82 million, or $0.39 per share, a year earlier. Consolidated adjusted EBITDA eased 3.7% to $920 million. 

The company still carries a heavy load, reporting $11.8 billion in aggregate principal debt as of June 30, 2026 against $965 million in cash, leaving net debt of about $10.8 billion that a new owner would inherit.

Caesars did not host an earnings call this quarter because of its pending sale. In May 2026 the company agreed to be acquired by Fertitta Entertainment, the hospitality and gaming group controlled by Houston billionaire Tilman Fertitta, whose holdings include the Golden Nugget casinos and the Landry's restaurant empire. 

The all-cash deal values Caesars at $17.6 billion including debt, with shareholders due $31.00 per share, a 49% premium to the price before deal talk surfaced. When it closes, Caesars will leave the Nasdaq and become a private company.

For players, nothing changes right away. The casinos, the Caesars Rewards program and the online casino app all keep running while the deal works through shareholder and regulatory approvals, and Caesars has announced no changes to its games, promotions or loyalty scheme. 

The bigger shift is visibility. Once Caesars is private it will no longer publish quarterly results, so the kind of detail in this report on how its online casino is performing will become harder to see. 

New ownership under a lifelong casino and hospitality operator could in time shape the direction of Caesars Rewards and its digital products, but for now it is business as usual.

The pending sale has put a spotlight on how Caesars stacks up against its rivals. DraftKings, FanDuel and BetMGM are among its main competitors, and each runs an online casino in the same states as Caesars Palace. 

Players weighing a switch, whether over the ownership change, game selection or a stronger welcome offer, have several licensed alternatives to compare:

Welcome offers and available games change often and vary by state, so it is worth checking current promotions on our US online casinos page before signing up.