Caesars Revenue Grows in First Half, But Posts Loss

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."