Caesars presently holds over $24 billion in financial obligation.
Caesars Interactive Entertainment (CIE), as an element of Caesars Growth Partners (CGP), has been lauded being a spot that is bright the Caesars brand. At the same time once the company is dealing with tremendous financial obligation and legal actions with bondholders, CGP is overseeing online operations and other areas of growth as part of a strategy to reorganize Caesars and make the company’s funds sustainable for the long haul. It is a bit early to state if that’s going working, but one this is certainly clear: CIE is certainly holding up their part of the bargain.
Into the very first half of 2014, CIE brought in $268.8 million, an enhance of nearly 90 % over the $142.1 million they brought in final 12 months. The enhance was slightly more dramatic into the second quarter alone, with web revenues up more than 95 percent to $144.6 million.
Positive Cash Flow for CIE
Right now, CIE is still posting losses for the year. The business is down $16 million for 2014, though that’s still a noticable difference over the $27.1 million they lost within the half that is first of. But with 20.5 million in profits in the quarter that is second it is quite feasible that the company could possibly be in the black colored by the end of the year.
‘With the Interactive Entertainment segment generating positive cash flow, we remain confident that our strate (more…)