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Caesars Interactive Revenues Rise on Online Gambling Performance

Caesars Interactive Entertainment revealed their first quarter financials this week, noting that they brought in increased revenue due to online gaming, mobile, and social products.

For the quarter CIE brought in $62.6 million, which is up 101.3% from the same period last year. The group's operating income rose 666% to $40.6 million, and income from continuing operations rose 992% to $27.3 million.

The large amount of growth is due to mobile and social gaming, with online operations contributing as well. The company's online gaming revenues from New Jersey and Nevada were up 6% to $9 million.

Virtual product sales for social operations were also up, with he company seeing 4.3% of social gaming users paying more for the products, which is up 134%. Average Revenue Per User was also up 29% to 31 cents, while daily active users were up 6% to 6,061.

Company wide, Caesars Entertainment posted quarterly revenues of $1.1 billion, up 21% from the same period last year.

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