July 29 (Reuters) - Casino operator Caesars Entertainment CZR.O posted a narrower loss for the second quarter on Tuesday, as high demand for sports betting drove strong performance in its digital unit.
The Reno, Nevada-based casino operator, which also runs online gambling businesses, has seen a surge in its digital segment amid growth in retail sports betting unit Caesars Digital.
The segment, which accounted for 10% of the company's total revenue in 2024, also includes retail and online sports betting, iGaming, poker and horse racing.
Revenue from its digital unit was at $343 million, up 24% from $276 million a year earlier. Analysts estimated $322.9 million, according to data compiled by LSEG.
Caesars posted a quarterly net loss of $82 million, or 39 cents per share, compared with a loss of $122 million, or 56 cents per share, a year ago.
Caesars' net revenue for the quarter ended June 30 was $2.9 billion, compared with $2.83 billion a year earlier.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Anil D'Silva)
((Anshuman.Tripathy@thomsonreuters.com;))
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