RTTNews | May 5, 2021 11:09AM EDT

11:08 Wednesday, May 5, 2021 (RTTNews.com) - Caesars Entertainment, Inc. (CZR) shares are gaining on Wednesday morning trade after the company reported 259.2 percent increase in first-quarter revenues, despite 16 percent decline in same-store revenue from the previous year.

Tom Reeg, Chief Executive Officer of Caesars said, "We are excited to see the dramatic improvement in operating efficiencies throughout our enterprise which we believe are sustainable going forward."

Currently, shares are trading at $100.46, up 5.17 percent from the previous close of $95.53. The shares have traded in a range of $17.95-$106-20 on average volume of 3,469,936 for the 52-week period.

The casino entertainment company reported a wider net loss of $423 million or $2.03 per share compared to net loss of $176 million or $2.25 per share a year ago.

Net revenue for the first quarter increased to $1.699 billion from $473 million a year ago.

Read the original article on RTTNews ( https://www.rttnews.com/3191994/stock-alert-caesars-entertainment-up-5-on-surge-in-q1-revenue.aspx)

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