Caesars Entertainment's Revenue by Segment (2016-2022)
This statistic highlights Caesars Entertainment's Revenue by Segment, split across Regional, Las Vegas, Managed, International, CIE, Caesar Digital, and Corporate segments, reported on a quarterly basis from Q1 2016 onwards.
By Priyansh Chourasia
Caesars Entertainments Revenue by Segment
Segments Q3 2020 Q2 2021 Q3 2021 Contribution in Q3 2021
Regional $1,000 $1,490 $1,492 55.57%
Las Vegas $304 $855 $1,017 37.88%
Managed, International, CIE $69 $66 $96 3.58%
Caesars Digital $0 $86 $79 2.94%
Corporate $0 $5 $1 0.04%
Total $1,373 $2,502 $2,685 100.00%
The total revenue from all the segments in Q3 2021 was $2.685 billion, this indicates a 95.56% of increase under the year-on-year basis when compared to the total revenue of $1.373 billion in Q3 2020. There was a rise of 7.31% as the total revenue grew from $2502 million in Q2 2021 to $2685 million in Q3 2021 on quarter-to-quarter basis. In Q3 2021, the regional segment has contributed the highest followed by the Las Vegas segment.
Regional segment revenue in Q3 2021 was $1.492 billion which is the highest contributor in Q3 2021 revenue by 55.57%. The quarter-on-quarter growth for the same is the lowest amongst all the segments when compared to the revenue of Q2 2021 at $1.49 billion. Under the year-on-year comparison, there was an incline of a 49.2% growth rate. The majority of their location was reopened after the Covid situation which had a positive impact on the segment's revenue.
Las Vegas has the second-highest contribution in the total revenue of the company in Q3 2021, by generating a revenue of $1.017 billion which accounts for 37.88%. Under the quarter-on-quarter comparison with $855 million generated in Q2 2021, there was an incline of 18.95%. On the year-on-year basis, it has the highest leap in all the segments when compared to the revenue of $304 million in Q3 2020.
Managed, International, CIE
From this segment, the company earned $96 million in Q3 2021, which contributes to 3.58% of the total revenue of Q3 2021. Under the year-on-year measurement, there was an incline of 39.13% when compared with $69 million earned in Q3 2020. The quarter-on-quarter growth of this segment has the highest incline of 45.45% from $66 million in Q2 2021. The net revenue and the adjusted EBITDA have increased, as all their properties were reopened as of 31st, December 2020 except Caesars Windsor. CIE business never closed despite the COVID-19 pandemic.
Caesars Digital
This segment has generated a revenue of $79 million in Q3 2021, which marks a contribution of 2.94% of the total revenue in Q3 2021. When compared to $86 million of Q2 2021 it shows a decline of 8.14%. Online gaming and betting are rapidly developing sectors in the e-commerce industry and the digital segment of the global gaming and betting industry will grow with increasing popularity and consumer confidence. Every state in the U.S. will begin to have a steady and strong uptake in active betting sports.
$1 million was generated from the corporate segment which marked the the lowest contribution in the overall revenue of Q3 2021 at 0.04%. While comparing on quarter-on-quarter basis, it has the highest decline of all the segments. There was a decline of 80% when compared to $5 million generated in Q2 2021. Increase in corporate expense primarily due to the acquisition of Former Caesar's offsets by reductions in salaries and wages due to decreased workforce which is a result of COVID-19 public health emergency.
Caesars Entertainment, Inc. was founded in 1973 by the Carano family with the opening of the Eldorado Hotel Casino in Nevada. It's a geographically diversified gaming and hospitality company, with its primary source of revenue is from gaming operations, utilizing its hotels, bars, restaurants, racing, retail shops and, other services to attract customers. Their properties are taken on a lease from a third party – GLP Capital, the operating partnership of Leisure properties and Gaming, Inc., and VICI properties, these two are the only property leaser for the company. On July 20th, 2020, Former Caesars became a wholly-owned subsidiary when the merger with Caesars Entertainment Corporation took place. The merger resulted in – their ownership, leases, or management has aggregated to 54 domestic properties in 16 states which approximately 54,600 slot machines, e-tables, and video lottery terminals, approx. 47,700 hotel rooms and approx. 3200 table games as of December 31st, 2020.
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