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Caesars Interactive Entertainment Revenues up 50 percent
Friday May 9,2014 : INTERACTIVE OPERATIONS THE BRIGHT SPOT IN CAESARS FIRST QUARTER
Net revenues for Q1-2014 up almost 50 percent y-o-y.
The overall Q1-2014 group results for US gambling giant Caesars Entertainment may have been less than stellar, but the company's Caesars Interactive Entertainment division led by Mitch Garber turned in a creditable performance, boosting net revenues by almost 50 percent year-on-year to $124.2 million.
Growth in social and mobile operations, along with the $90 million acquisition of Pacific Interactive made notable contributions to the company's results. Pacific Interactive joins other interactive firms in the CIE stable Playtika and Buffalo Studios.
Commenting on the results of Caesars Growth Partners - the corporate division under which CIE falls - Garber said:
“CIE closed its fourth social game acquisition in four years....we believe these additions to the business coupled with ongoing investments to expand the interactive business bode well for CGP’s future outlook.”
Garber said that Caesars will continue to expand in the social sector, and has hopes for further real-money online gambling breakthroughs in the United States as the legal situation evolves.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
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Playtech Acquires ECM Systems -
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Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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