« News index »
ONLINE GAMBLING OPERATIONS A BRIGHT SPOT IN CAESAR&#039;S THIRD QUARTER
30th October, 2013 at 04:08:41
But including corporate expenses in the category results in a significant operating loss.
The super-debt of US land gambling giant Caesars Entertainment, currently at around $23.8 billion, continued to weigh heavily on the group's third quarter results released this week.
The group posted a $761.4 million loss in the quarter, with debt servicing gobbling up $563 million from revenues that were just 0.7% up at $2.18 billion. Net [land] casino revenue sank 7.1% to $1.12 billion.
What could have been a bright spot was the interactive division of the company, but by dumping corporate expenses into that category the group turned this into an operating loss of $105 million.
The CIE category includes operations like the World Series of Poker and recent social gaming acquisitions like Buffalo Studios (see previous reports) which appeared to perform well, delivering revenues up 18.5% at $240.1 million.
Related News Tags: Wsop
NEW JERSEY ONLINE GAMBLING ENJOYS A PROFITABLE JULY
13th August, 2016 at 08:06:10
Online revenues grow 38.6 percent year-on-year.
NEW JERSEY GAMBLING SLIGHTLY DOWN IN MAY 2016
15th June, 2016 at 09:24:29
Healthy $16.5 million contribution from online gambling.
NEW JERSEY FEELS THE IMPACT OF POKERSTARS RETURN (Update)
27th March, 2016 at 08:28:55
Rivals feel the pinch as online poker giant partially re-enters the US market.
DELAWARE DELIVERS IN FEBRUARY
13th March, 2016 at 08:58:59
US regulated online gambling state achieves second-best results since launch in November 2013.
CAESARS INTERACTIVE DELIVERS ROBUST QUARTERLY RESULTS.
10th November, 2015 at 21:07:29
Highest-ever quarterly revenue. Social and mobile continue to impress.