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Caesars Entertainment Corp. Swings to First-Quarter Loss

Caesars Entertainment Corp. CZR -0.28 % , once the world’s largest gambling company, swung to a first-quarter loss on lower casino revenue and a hefty charge related to how much it will pay to support its largest unit, which is trying to reorganize under bankruptcy protection.

The company’s shares, down 28% over the past 12 months, fell 2% to $6.60 in after-hours trade.

Based in Las Vegas, Caesars is largely a holding company operating casino resorts under such brands as Caesars, Harrah’s and Horseshoe. The company has...