Caesars Sees Online Betting Profit This Year After $1.1 Billion Losses
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Caesars Entertainment Inc. is predicting that its online betting business will be profitable in 2023, after generating cumulative losses of more than $1.1 billion.
Tom Reeg, Caesars’ chief executive officer, made the prediction Tuesday on a call with investors, saying the company has steadily narrowed losses in the business and sees a profit this year before interest, taxes, depreciation and amortization.