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ONLINE OPERATIONS BOOST CAESARS RESULTS
Thursday, May 3,2012 : ONLINE OPERATIONS BOOST CAESARS RESULTS
CEO praises interactive division's strong performance
Las Vegas gambling group Caesars Entertainment is the latest mainly land gambling operator to discover that online gambling is useful generator of revenues, especially when overall group returns are looking rather mediocre.
Caesars Q1-2012 results released this week showed a net increase in revenues of 4.3 percent to $2.27 billion...but the group's net loss still widened to $280.6 million from $147.5 million for the same period in 2011, whilst income from operations fell 65 percent to $75.5 million.
However, the group's online venture through Caesars Interactive Entertainment Incorporated saw its first-quarter revenues soar by 214.1 percent year-on-year to $64.7 million, which helped the total net revenues from its managed, international and iGaming operations rise 32.7 percent when compared with the same period in 2011 to $208.4 million.
In his Q1 report, group chief exec Gary Loveman applauded the strong performance of Caesars' online businesses.
“We continued to make progress on expanding our distribution network both on land and online, on leveraging our scale to drive efficiency and growth and on further strengthening our financial position,” he added.
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US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
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NBA Odds: Clippers Try to Slow Down Bucks in LA -
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NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
NHL Odds: Reeling Flyers Seek Relief in Pittsburgh -
#nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.
Dollars to Donuts Slot Launch -
Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.
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