Caesars Revenue Grows in First Half, But Posts Loss

This story was published more than 1 year ago.

American gambling group Caesars Entertainment has posted their first half 2019 financial results, revealing that revenues grew but so did losses for the period.

Key financial indicators for the half ending June 30th, 2019 were:

  • Net loss of $532 million for the period
  • Revenues of $4.34 billion, up from $4.09 billion last year
  • Casino operation revenue of $2.21 billion, up from $2.04 billion last year
  • Food and beverage revenues up to $805 million for the half
  • Expenses up to $3.83 billion with casino costs up to $1.25 billion
  • Other costs totaled $927 million, up from $883 million last year
  • Net loss surged to $532 million, up from a loss of $5 million last year
  • Pre-tax losses also jumped from $28 million to $622 million

Commenting on the results Caesars CEO Tony Rodio said, "As we work toward successful completion of the proposed merger with Eldorado Resorts, the management team and I remain focused on improving the company's operations and financial profile through incremental revenue opportunities and operating efficiencies. I'm confident that the proposed transaction will create an industry leading platform poised to succeed in our dynamic industry."

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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bgsharpe
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7 August 2019 - 1:18pm
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At least it seems they moving in the right direction obviously despite still declaring losses, from what the Caesars CEO has said there we could see he's not that bothered and believes in the bright future apparently.