Caesars currently holds over $24 billion in financial obligation.
Caesars Interactive Entertainment (CIE), as a part of Caesars Growth Partners (CGP), has been lauded being a bright spot for the Caesars brand. At any given time when the company is dealing with tremendous financial obligation and lawsuits with bondholders, CGP is overseeing online operations as well as other areas of growth as an ingredient of the strategy to reorganize Caesars and result in the business’s funds sustainable for the long haul. It is a bit early to say if that’s going to operate, but one this will be clear: CIE is certainly holding up their part of the deal.
Within the very first half of 2014, CIE brought in $268.8 million, an increase of almost 90 % within the $142.1 million they introduced final year. The enhance had been slightly more dramatic into the quarter that is second, with net revenues up more than 95 percent to $144.6 million.
Positive Cash Flow for CIE
Right now, CIE is losses that are still posting the 12 months. The business is down $16 million for 2014, though that’s still a noticable difference over the $27.1 million they lost in the half that is first of. But with 20.5 million in profits in the second quarter, it is quite feasible that the business might be in the black by the end of the year.
‘With the Interactive Entertainment segment generating positive cashflow, we stay confident that our strateg (more…)