In Q2, Caesars Digital achieves EBITDA profitability.

 Since changing its name to Caesars Sportsbook in the summer of 2021, Caesars Entertainment has reported positive adjusted EBITDA for the first quarter of its digital division.
 Board of Caesars Harris
 After acquiring William Hill earlier that year, the firm released its redesigned betting app in August 2021.  After an agreement was reached in September 2020, Caesars purchased William Hill for £2.90 billion (€3.37 billion/$3.71 billion) in April 2021.

 Over the ensuing months and years, Caesars Sportsbook expanded throughout 20 states.  EBITDA did not turn positive until the second quarter of this year, despite this wider reach.

 Caesars Digital's Q2 EBITDA was $19.0 million.  Caesars set a goal of $500.0 million for digital EBITDA over the following two years in May of this year.

 Caesars Sports and Online Gaming President Eric Hession greeted the historic event.  He emphasised the expansion of internet casinos and sports betting.

 The success of our focused promotional investment and general lower level of marketing within both our current customer base and clients in the additional states is demonstrated by our results this quarter, Hession stated.  "During the quarter, the volume of casinos rose 27% year over year, and sports betting held improved 180 basis points from the previous year."

 Hession also mentioned four technological advancements that, in his opinion, will spur additional expansion in the digital industry.  These include switching from its Caesars app in Nevada to the main Liberty product and launching a new online casino product that is operational in several states.

 The launch of its new native iOS Sportsbook app, which is expected to achieve 100% adoption in August, was another enhancement.  Caesars is also planning to launch an internal player account management system later this year.

 Results from Las Vegas and the surrounding were mixed.
 Although Caesars Digital's achievement received a lot of attention, the operator also claimed growth in other areas.  Total group revenue for the three months ending June 30th was $2.88 billion, up 2.1% from $2.82 billion in the second quarter of 2022.

 At $1.46 billion, up 0.5% from the previous year, regional operations produced the largest portion of income.  New temporary facilities in Nebraska and Virginia assisted with this, and the operator also stated that trends in client demand stayed consistent.

 Revenue from Las Vegas, meanwhile, decreased 1.2% to $1.13 billion.  Caesars attributed this to this division's "exceptional" performance in the second quarter of last year, which also happened to be a record quarter for the company.

 Caesars CEO Tom Reeg stated, "Vegas is still very, very strong for us."  "It feels great and hasn't really affected anything in terms of recessionary or consumer-related worries."

 The digital industry's shifting fortunes Caesars Digital saw the biggest expansion, with sales rising 42.1% to $216.0 million.  However, in the second quarter of previous year, the sector reported a net loss of $116.0 million.  The most recent amount, however, was less than $230.0 million in the first quarter of this year.

 $2.0 million was ascribed to corporate and other business, and an additional $72.0 million came from managed and branded activities.

 When this is broken down by revenue source, the casino brought in $1.59 million in Q2, a 2.2% increase.  Revenue from food and drink rose 2.4% to $432.0 million, while hotel revenue rose 1.2% to $525.0 million.  $335.0 million more came from various activities.

 Despite increased spending, net profit returns
 Now let's talk about costs. In Q2, total operating expenses increased 2.3% to $2.27 billion.  Despite a 1.0% decrease in spending to $817.0 million, the casino remained the primary outgoing.

 Additionally, $583.0 million in finance-related expenses were reported, resulting in a 70.5% decrease in pre-tax profit to $26.0 million.

 Caesars did remark $902.0 million in income tax benefits, though.  As a result, net profit increased to $928.0 million from a deficit of $121.0 million the year before.  Compared to a $123.0 million loss in 2022, net profit was $920.0 million after deducting $8.0 million from non-controlling interests.

 The adjusted EBITDA increased by 3.0% to $1.01 billion.  $512.0 million went to Las Vegas, $11.0 million to regional operations, and $19.0 million to management and branding.

 Caesars' first half growth
 Considering the first half, revenue for the six months ending June 30th was $5.71 billion, up 11.8% from $5.11 billion generated in 2022.

 Las Vegas revenue increased 9.9% to $2.26 billion, while regional revenue up 1.3% to $2.85 billion.  Managed and branded sales increased by 0.7% to $141.0m, while digital revenue soared 358.6% to $454.0m.

 The casino made $3.17 billion, the food and beverage industry $862.0 million, the hotel $10.3 billion, and miscellaneous activities $650.0 million.

 In terms of expenses, operating costs decreased by 0.5% to $4.50 billion.  Spending on finance reached $1.37 billion, resulting in a pre-tax loss of $159.0 million, which is better than the $470.0 million loss reported in 2022.

 Compared to previous year's $803.0m loss, Caesars' $951.0m tax advantage increased net earnings to a positive $952.0m.  After deducting non-controlling interest income, the overall net profit was $784.0 million, as opposed to a deficit of $803.0 million the year before.

 At $1.97 billion, adjusted EBITDA was 54.2% higher.  With regional $956.0m, digital $7.0m, and managed and branded $38.0m, Las Vegas held a $1.05 billion share.

 "Our business continued to show strength in the second quarter of 2023," Reeg stated.  "Demand is still high in our regional markets as well as Las Vegas."