Caesars Posts Loss in Third Quarter

U.S. betting firm Caesars Entertainment has posted their third-quarter 2019 financial results, noting higher revenues but posting a loss for the period.

Key financial indicators for the quarter ending September 30th, 2019 were:

  • Revenue of $2.24 billion, up 2.3% from last year
  • Casino revenues up 2.6% to $1.13 billion
  • Food and beverage income up 0.7% to $411 million
  • Hotel revenue up 3.5% to $409 million
  • Management fees of $15 million, down 6.3%
  • Other revenue up 1.9% to $217 million
  • Las Vegas operations accounted for $973 million, up 6.9%

The company still ended up posting a loss for the period, largely due to the fees associated with the sale of the Rio All-Suites Resort & Casino.

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