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Caesars Entertainment vs Las Vegas Sands: revenue, profit, margins and growth compared

Caesars Entertainment brought in $11.5B of revenue in fiscal 2025, Las Vegas Sands $13B in fiscal 2025. Revenue changed by +2.1% at Caesars Entertainment and +15.2% at Las Vegas Sands on the year before, so Las Vegas Sands grew faster. Caesars Entertainment kept -4.4% of its revenue as net profit, Las Vegas Sands 12.5%. Free cash flow was $497M at Caesars Entertainment and $1.9B at Las Vegas Sands.

Side by side, latest fiscal year

CZRLVS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$11.5B$13B
Revenue growth+2.1%+15.2%
Net income-$502M$1.6B
Net margin-4.4%12.5%
Free cash flow$497M$1.9B
Free cash flow margin4.3%14.3%
Earnings per share (diluted)-$2.42$2.35
Cash$887M$3.8B
Debt$11.9B$15.8B
Price to earningsn/a16.6
Market value$6B$25.3B
Dividend yieldn/a2.56%
Rank by revenue in sector#111 of 778 · Consumer discretionary#100 of 778 · Consumer discretionary

Over the years

Revenue
CZR FY2018: $2.1BCZR FY2019: $2.5BCZR FY2020: $3.6BCZR FY2021: $9.6BCZR FY2022: $10.8BCZR FY2023: $11.5BCZR FY2024: $11.2BCZR FY2025: $11.5BLVS FY2018: $13.7BLVS FY2019: $12.1BLVS FY2020: $2.9BLVS FY2021: $4.2BLVS FY2022: $4.1BLVS FY2023: $10.4BLVS FY2024: $11.3BLVS FY2025: $13BFY18FY19FY20FY21FY22FY23FY24FY25
CZR $11.5BLVS $13B
Net income
CZR FY2018: $95MCZR FY2019: $81MCZR FY2020: -$1.8BCZR FY2021: -$1BCZR FY2022: -$899MCZR FY2023: $786MCZR FY2024: -$278MCZR FY2025: -$502MLVS FY2018: $2.4BLVS FY2019: $2.7BLVS FY2020: -$1.7BLVS FY2021: -$961MLVS FY2022: $1.8BLVS FY2023: $1.2BLVS FY2024: $1.4BLVS FY2025: $1.6BFY18FY19FY20FY21FY22FY23FY24FY25
CZR -$502MLVS $1.6B
Net margin
CZR FY2018: 4.6%CZR FY2019: 3.2%CZR FY2020: -48.4%CZR FY2021: -10.6%CZR FY2022: -8.3%CZR FY2023: 6.8%CZR FY2024: -2.5%CZR FY2025: -4.4%LVS FY2018: 17.6%LVS FY2019: 22.2%LVS FY2020: -57.3%LVS FY2021: -22.7%LVS FY2022: 44.6%LVS FY2023: 11.8%LVS FY2024: 12.8%LVS FY2025: 12.5%FY18FY19FY20FY21FY22FY23FY24FY25
CZR -4.4%LVS 12.5%
Revenue growth
CZR FY2019: +23.0%CZR FY2020: +43.5%CZR FY2021: +163.8%CZR FY2022: +13.1%CZR FY2023: +6.5%CZR FY2024: -2.5%CZR FY2025: +2.1%LVS FY2019: -11.7%LVS FY2020: -75.8%LVS FY2021: +44.0%LVS FY2022: -2.9%LVS FY2023: +152.4%LVS FY2024: +8.9%LVS FY2025: +15.2%FY19FY20FY21FY22FY23FY24FY25
CZR +2.1%LVS +15.2%
Free cash flow
CZR FY2018: $176.3MCZR FY2019: $141.5MCZR FY2020: -$725MCZR FY2021: $679MCZR FY2022: $41MCZR FY2023: $545MCZR FY2024: -$221MCZR FY2025: $497MLVS FY2018: $3.8BLVS FY2019: $2BLVS FY2020: -$2.5BLVS FY2021: -$1.1BLVS FY2022: -$1.6BLVS FY2023: $2.2BLVS FY2024: $1.6BLVS FY2025: $1.9BFY18FY19FY20FY21FY22FY23FY24FY25
CZR $497MLVS $1.9B

Fiscal years as each company reports them; the two may end in different months.

Questions about Caesars Entertainment and Las Vegas Sands

Which is bigger by revenue, Caesars Entertainment or Las Vegas Sands?

Las Vegas Sands is bigger by revenue: $13B in fiscal 2025, against $11.5B for Caesars Entertainment in fiscal 2025.

Which keeps more of its revenue as profit, Caesars Entertainment or Las Vegas Sands?

Caesars Entertainment had a net margin of -4.4% in fiscal 2025; Las Vegas Sands had 12.5% in fiscal 2025.

Which grew revenue faster, Caesars Entertainment or Las Vegas Sands?

In their latest fiscal years revenue changed by +2.1% at Caesars Entertainment and +15.2% at Las Vegas Sands.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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