Caesars currently holds over $24 billion in financial obligation.
Caesars Interactive Entertainment (CIE), as an element of Caesars Growth Partners (CGP), has been lauded being a bright spot for the Caesars brand. At the same time as soon as the business is coping with tremendous debt and lawsuits with bondholders, CGP is overseeing online operations along with other areas of growth as part of the strategy to reorganize Caesars and make the organization’s funds sustainable for the long haul. It is a bit early to state if that’s going working, but one this really is clear: CIE is certainly holding up their section of the discount.
Into the half that is first of, CIE brought in $268.8 million, an increase of nearly 90 % over the $142.1 million they earned last 12 months. The increase had been slightly more dramatic into the second quarter alone, with net revenues up more than 95 percent to $144.6 million.
Positive Money Flow for CIE
Right now, CIE is still posting losings for 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 half that is first of. But with 20.5 million in profits in the quarter that is second it is quite possible that the business might be in the black colored by the end of the season.
‘With the Interactive Entertainment segment generating good cashflow, we remain confident that our strategy to build up brand (more…)