Tuesday November 11,2014 : CAESARS INTERACTIVE TURNS IN RECORD RESULTS
Buoyed by social and mobile platform growth
The Interactive Entertainment division of Caesars Growth Partners LLC (CIE) reported strong revenue growth of 104.8 percent and adjusted EBITDA up 74.5 percent year over year during its third quarter and nine month to September 30, 2014 results.
CIE's good fortunes were primarily led by the division's social and mobile games business along with the acquisition of Pacific Interactive in the first quarter of 2014, chief executive officer Mitch Garber said.
Key performance highlights for the period include:
– Social and mobile games revenues of $151.3 million (Q3/2013: $74.7 million)
– WSOP and online money gaming revenues of $10.3 million (Q3/2013: $4.2 million)
– Total revenues of $161.6 million (Q3/2013: $78.9 million)
During the third quarter of 2014, CIE's social and mobile games business had approximately 595 thousand Average Monthly Unique Payers across its mobile and social platforms who purchased virtual goods, an increase of approximately 160 basis points year over year, the company revealed.