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Caesars Interactive reveals record quarterly performance

caesarsCasesar Interactive reveals record quarterly performance  November 10 2015

US operator Caesars Acquisition Company (CAC) has revealed that its Caesars Interactive Entertainment (CIE) business unit was able to follow up on record results in the second quarter of this year by posting its highest-ever quarterly revenue during the three months through to September 30.

Revenue for the business unit in the third quarter amounted to $194.5 million (€180.7 million), which represents an increase of 20.4% on the €161.6 million posted in the corresponding period last year.

Income from operations was up 111.4% year-on-year to $42.5 million, while net income from continuing operations improved from a loss of $2.9 million in the third quarter of last year to a positive figure of $25.7 million this year.

Operating profit also grew 36.1% year-on-year to $72.7 million.

CAC also noted its total net revenue for the third quarter totalled $601.2 million, up 23.8% from the $485.8 million achieved in the same period last year.

Overall income from operations was up 5% to $86.2 million, while total adjusted operating profit increased by 60% to $168.6 million.

The third-quarter results place CIE’s revenue for the year-to-date through to the end of September at $557.3 million, an increase of 29.5% on the same point in the previous year.

Total revenue at Caesars for the year-to-date also jumped 30.1% to $1.7 billion.

Mitch Garber, chief executive officer of CAC, said: “Our Interactive Entertainment business continues to generate outstanding results, primarily from our market leading social and mobile games business.

“With the completion of The LINQ Hotel & Casino renovation in July 2015, our Casino Properties and Developments unit had its first quarter since Q2 2014 with no construction disruption.

“We will continue to focus on both business units to yield growth, and we remain encouraged by the strong performance of our assets.

 

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November 11, 2015: posted in News And Reviews No Comments

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