LAS VEGAS, July 30 -- The last earnings report Caesars Entertainment Inc. (Nasdaq: CZR) will ever file as a public company arrived Monday with a contradiction at its center. Regional casinos are delivering their best growth in years. The Las Vegas Strip, the crown jewel Tilman Fertitta is paying a premium to own, just posted its sharpest earnings decline in recent memory.

Net revenue for the three months ended June 30 reached $2.993 billion, up 3.0 percent from a year earlier and slightly ahead of analyst estimates of $2.97 billion. But consolidated adjusted EBITDA fell 3.7 percent to $920 million, missing the consensus figure of $962.7 million by roughly $43 million. The company also reported a net loss of $62 million, narrowed from $82...