Caesars currently holds over $24 billion in debt.
Caesars Interactive Entertainment (CIE), as a part of Caesars Growth Partners (CGP), has been lauded as a bright spot for the Caesars brand. At a time when the company is coping with tremendous debt and lawsuits with bondholders, CGP is overseeing online operations and other areas of growth as an ingredient of a strategy to reorganize Caesars and result in the company’s finances sustainable for the long haul. It’s a bit early to state if that is going to the office, but one this will be clear: CIE is unquestionably holding up their section of the deal.
In the half that is first of, CIE brought in $268.8 million, an enhance of nearly 90 per cent over the $142.1 million they introduced last year. The enhance had been slightly more dramatic within the quarter that is second, with net revenues up more than 95 percent to $144.6 million.
Positive Money Flow for CIE
At this time, CIE is losses that are still posting the year. The company is down $16 million for 2014, though that’s still a marked improvement over the $27.1 million they lost in the first half 2013. But with 20.5 million in profits in the second quarter, it is quite possible that the business might be in the black colored by the end of the year.
‘With the Interactive Entertainment segment generating cash that is positive, we stay confident that our strategy to produce brand new projects and continue Continue lendo “Caesars Interactive Grows, But Caesars Overall Still Stalled”