Caesars Reports Strong Digital Growth In First Quarter

Caesars Entertainment opened 2026 with steady overall financial results, with the company’s online casino and mobile sports betting division showing solid growth.

Caesars Digital, which includes the company’s online casino and sports betting, generated an 11.6% increase in net revenue during the first quarter compared to the same period last year as the operator continues expanding its online gaming footprint.

During the company’s earnings call, executives pointed to stronger sports betting hold rates, growing online casino engagement, and ongoing investment in proprietary technology as key factors behind the division’s momentum. The segment remains on pace to hit $500 million in annual digital EBITDA, CEO Tom Reeg said. 

“Caesars Digital delivered record first quarter net revenue and adjusted EBITDA of $374 million and $69 million respectively,” said Caesars Digital president Eric Hession.

Online casino revenue continues to accelerate

The company’s online casino business outpaced the sportsbook with 18% revenue growth, driven by gains in wagering volume and monthly active users. The operator credited product improvements and stronger integration between its digital and retail casino businesses for helping drive engagement.

“We continued to elevate our product offering during the quarter to include new in-house games, improved bonusing capability, and incented cross-play with brick-and-mortar through our Remote Reels, exclusive product launches, and customer events,” Hession said.

Caesars also said its total monthly unique digital players “increased approximately 2% to 512,000, and average revenue per monthly player was up 15% to $219.”

Online sports betting benefits from improved hold

Online sports betting remained a major contributor despite lower wagering volume during the quarter. Caesars said sportsbook revenue increased 9% year over year even though total handle declined 3%. 

The operator offset softer handle through improved hold performance, with sportsbook hold rising 1 percentage point to 8.3%. The company also reported increases in parlay betting activity, average legs per parlay, and cash-out engagement among customers.

Universal wallet update

Technology upgrades remain central to Caesars’ long-term digital strategy. The company said its universal wallet and proprietary player account management system is now live in 27 jurisdictions and was expected to launch across all markets by the end of April.

Executives believe the technology improvements are helping boost customer retention, streamline cross-platform engagement, and improve overall monetization across sports betting and online casino products.

Looking ahead, Caesars remains optimistic about the future of its digital division.

“We continue to see a business capable of achieving 20% top-line revenue growth with 50% flow-through to EBITDA, which keeps us on track to achieve our long-term financial goals,” Hession said.