ï»¿Caesars Interactive Grows, But Caesars Overall Nevertheless Stalled
Caesars currently holds over $24 billion in financial obligation.
Caesars Interactive Entertainment (CIE), as an element of Caesars Growth Partners (CGP), has been lauded as being a bright spot for the Caesars brand. At a time if the business is coping with tremendous financial obligation and lawsuits with bondholders, CGP is overseeing online operations as well as other areas of growth as part of the strategy to reorganize Caesars and result in the organization’s funds sustainable for the long haul. It’s a bit early to say if that is going to work, but one this might be clear: CIE is unquestionably holding up their part of the bargain.
Into the half that is first of, CIE brought in $268.8 million, an increase of almost 90 per cent on the $142.1 million they earned last 12 months. The enhance was slightly more dramatic in the 2nd quarter alone, with web 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 12 months. The company is down $16 million for 2014, though that is still a marked improvement over the $27.1 million they lost within the first half 2013. But with 20.5 million in profits in the second quarter, it is quite possible that the business could be in the black by the end of the year.
‘With the Interactive Entertainment segment generating cash that is positive, we stay confident that our strategy to build […]