Caesars currently holds over $24 billion in debt.
Caesars Interactive Entertainment (CIE), as part of Caesars Growth Partners (CGP), has been lauded as being a bright spot for the Caesars brand. At a time if the business is dealing with tremendous debt and legal actions with bondholders, CGP is overseeing online operations as well as other areas of growth as an ingredient of a strategy to reorganize Caesars and result in the organization’s funds sustainable for the long haul. It’s a bit early to state if that is going to get results, but one this might be clear: CIE is certainly holding up their section of the deal.
In the very first 1 / 2 of 2014, CIE brought in $268.8 million, an increase of nearly 90 % within the $142.1 million they brought in final year. The increase ended up being slightly more dramatic within the 2nd quarter alone, with web revenues up more than 95 percent to $144.6 million.
Positive Money Flow for CIE
Right now, CIE is losses that are still posting the year. The company is down $16 million for 2014, though that is still an improvement over the $27.1 million they lost into the first half 2013. But with 20.5 million in profits in the second quarter, it is quite feasible that the company might be in the black colored by the end of the season.
‘With the Interactive Entertainment segment generating good cash flow, we remain confident that our strategy to produce brand new projects and c [Read more…]