Caesars Entertainment Corp.'s losses narrow in the fourth quarter as revenue rises 63% with the return of people to its casinos and hotels.
Read More...
By Kimberly Chin
Caesars Entertainment Corp. said losses narrowed in the fourth quarter as revenue rose 63% from the year-ago period with the return of people to its casinos and hotels.
The casino-entertainment company said losses were $434 million, narrowing from $555 million in the year-ago quarter. Per-share losses were $2.03, compared with a $2.67-a-share loss a year earlier.
Net revenues rose to $2.59 billion from $1.56 billion in last year’s fourth quarter and in line with analysts’ consensus forecast.
Hotel revenue more than doubled from a year ago to $429 million while casino and pari-mutuel commissions revenue rose 43% to $1.52 billion.
Write to Kimberly Chin at [email protected]
Add Comment