Caesars Reports Mixed Third Quarter Results, WSOP TV Ratings Also Mixed
World Series of Poker champ Joe McKeehen had a $7.68 million payday this week, the WSOP also helping the financials that are third-quarter Caesars.
Caesars Acquisition Company (CAC), the investment arm in Caesars Growth Partners (CGP), released its third quarter profits for 2015 and the total results are mixed.
The moms and dad business to Caesars Interactive Entertainment, the World Series of Poker and a few casinos including Planet Hollywood, Harrah’s New Orleans, and also the Horseshoe Baltimore, CAC reported total new revenues jumped to $601.2 million within the three months ended September 30, a growth of almost 24 per cent.
Not most of the news ended up being positive, CAC also revealing that its web income from continuing operations ended up being just $20.5 million, a 71 per cent drop year-on-year.
Caesars Acquisition’s CEO Mitch Garber had no qualms rotating the negatives into positives, saying his company remains ‘encouraged by the performance that is strong of assets.’
Interactive Stays Active
The highlight of Q3 filing by CAC was again its Caesars Interactive Entertainment (CIE) supply, the division reporting $194.5 million in net revenues, a 20.4 percent yield compared to Q3 2014.
CIE is responsible for the WSOP brand name along with Caesars Palace Las Vegas and many social gaming web sites including Bingo Blitz, Slotomania, and Caesars Bingo.
‘Our Interactive Entertainment business continues (more…)