When it comes to the Oakland Athletics and the team's prospective plans for a Las Vegas ballpark, Caesars Entertainment Inc. and MGM Resorts International are on the same page.

Caesars CEO Tom Reeg said Tuesday, in reaction to an expert's question, that the possibility of the A's in Las Vegas was amazing, however he didn't wish to see tax hits that would "unnecessarily" impact Clark County or taxes that could impact customers - - echoing a similar remark made by MGM Resorts CEO Bill Hornbuckle on Monday.

Experts likewise asked Reeg whether Southern Nevada's recent string of successes - - with its stacked events calendar that consists of Formula One Las Vegas Grand Prix and Super Bowl LVIII - - had an end date.

He said there's no factor to stop looking for ways to generate a greater worth client. He credited rivals in the market and the Las Vegas Convention and Visitors Authority for pressing to bring high-spend, market-wide occasions.

" We all like to stand back-to-back and see who's the highest in this market, but we do work together well to make certain this market continues to expand," Reeg stated. "I think it's foolish to bet that the 30-year cycle is suddenly going to be over in a quarter."

During the company's first quarter incomes call, Reeg likewise kept in mind client need was still high in Las Vegas. The segment reported an earnings of $293 million for the duration ended March 31, up 74.4 percent year over year, and revenue of $1.13 billion, a 23.7 percent boost compared to the same quarter a year earlier.

Group and convention-related hotel need was 21 percent for the quarter, up from 14 percent compared to the same period last year, executives stated. Hotel tenancy was 95 percent, signaling continued strength in the Las Vegas market regardless of issues about a financial slowdown.

" What you're seeing through Vegas is not only just extraordinary demand that continues," CEO Tom Reeg stated. "( But) as we look through each month, you're seeing the average client in our home continuing to (increase). We're getting group organization that is greater dollar, comes with banquet business connected and changes our least lucrative gamers."

Uptiering clients

The just recently announced changes at Horseshoe Las Vegas and Paris Las Vegas likewise illustrates the company's commitment to up-tiering. On Monday, the business revealed strategies to spend more than $100 million to transform Horseshoe's Jubilee Tower into a "premium" hotel tower that connects to Paris, with bigger spaces and balconies for guest spaces that face the Strip.

Executives said Paris' space rate and average nongaming spend per space is "substantially ahead" of Horseshoe, indicating the business might earn more from the tower once it integrates with Paris.

" What we can do here is a basic upgrade in terms of the rate that those rooms will get," Reeg said. "And then create, on that side dealing with the Strip, a few of our most appealing non-villa items in the market."

On the digital side, the Reno-based business announced strategies to release a standalone iCasino app later this year, as its digital service pushes toward recovering cost.

The company said the iGaming app will introduce in the third quarter, and it will have increased game content, new proprietary offerings and real-time marketing abilities. A title for the new program was not shared, and business authorities said it would be different from its Caesars Sportsbook app.

It decided to develop a separate app to draw in the core slot-playing consumer.

" We'll have the ability to offer them with something that's more in line with what they're getting out of their experience (at the casino), and I think it's going to draw in a greater portion of the slot customer," Eric Hession, president of Caesars Sports and Online Gaming, said throughout the call.

Adjusted pre-tax profits for Caesars Digital was a loss of $4 million in the very first quarter, compared to a year-over-year loss of $554 million.

Caesars reported a bottom line of $136 million, $0.63 a share, on revenue of $2.83 billion for the first quarter. That compared with a bottom line of $680 million, or $3.18 per share, on revenue of $2.29 billion.

Shares fell 4.15 percent to $44.58 on Tuesday, and rose 1.28 percent to $45.15 in after hours trading.

McKenna Ross is a corps member with Report for America, a nationwide service program that puts reporters into regional newsrooms. Contact her at mross@reviewjournal.com. Follow @mckenna_ross_ on Twitter.

Caesars Entertainment Inc

. First-quarter earnings and revenues for Reno-based Caesars Entertainment Inc., operators of Caesars Palace, Flamingo, Harrah's and The Linq Hotel, to name a few Strip residential or commercial properties. (Nasdaq: CZR).

■ ■ Revenue.

2023: $2.83 billion.

2022: $2.29 billion.

Modification: 23.7%.

■ ■ Net income/( loss).

2023: ($ 136 million).

2022: ($ 680 million).

Change: 69.8%.

■ ■ Earnings/( Loss) per share.

2023: ($ 0.63).

2022: ($ 2.11).