Tag: loss
William Hill hit by football results in first quarter
iGaming Business – UK bookmaker William Hill has cited two “substantial” loss-making weeks driven by football results as one of the main reasons for a year-on-year drop in profit during the three months to March 31, 2014. The company reported that operating profit for the first quarter was down 14% on the same period last year. Retail suffered the most with a 25% drop while online operations also fell 6%. William Hill’s retail business was responsible for 57% of total group revenue, while online and Australian operations contributed 32% and 8% respectively. Over-the-counter amounts wagered via the bookmaker’s retail business…
Caesars Loses $1.7 Billion in Q4 of 2014
Card Player – Caesars Entertainment Corp. said this week that it lost $1.756 billion in the fourth quarter of last year, the Las Vegas Review-Journal reported. Atlantic City was largely to blame, according to the report. The massive loss was posted after the company saw more than $2 billion in revenue during the period, which ended on Dec. 31. The fourth quarter of 2012 had the company lose $435.8 million. Caesars has debt of $20.9 billion, tops in the gaming industry. It has been making moves for quite some time to reduce that figure. Progress has been made. The World…