Tag: Caesars suffering losses
Caesars Suffering Losses in First Quarter
May 9, 2014
The impact of “severe” weather, increased competition and market softness found Caesars suffering losses for the three months of 2014. The company posted net revenue of $2.1 billion (€1.5 billion) in the first quarter of 2014, a decrease of 1.9% on the $2.14 billion achieved in the corresponding period in the previous year. Casino revenue fell 8.6% to $1.4 billion but losses were slightly offset by the growth of the firm’s social and mobile business in its Caesars Interactive Entertainment subsidiary. Elsewhere, Caesars reported that adjusted earnings before interest, tax, depreciation and amortization for the quarter also fell 9.9% from…