Caesars reports strong 2nd quarter in Las Vegas

An exterior view of Caesars Palace on the Las Vegas Strip Dec. 26, 2017.

Caesars properties in Las Vegas recorded a good second quarter, according to an earnings breakdown released today.

The company reported a 6.3% year-over-year increase in hotel revenue in Las Vegas for the three-month period that ended June 30, along with a 6.2% jump in revenue per available room.

In a statement, Caesars CEO Tony Rodio said strong Las Vegas hotel, food and beverage numbers for the quarter were largely the result of increased leisure and group demand.

“Our Las Vegas performance produced an all-time quarterly record for hotel cash revenue and occupancy for the second consecutive quarter,” Rodio said.

Overall, Caesars posted a net revenues increase of $2.2 billion, an increase of nearly 5% from the second quarter of 2018.

Net revenues for Caesars’ Las Vegas properties grew a modest 1% from $992 million during the second quarter of 2018 to just over $1 billion for the second quarter this year.

Caesars officials were scheduled to host an earnings conference call this afternoon.

Earlier this year, Caesars and Eldorado Resorts announced a plan to merge the companies. The merger still needs regulatory approval before it becomes official.