Caesars Interactive reveals record quarterly performance

Net revenues for Continuing CEC increased 12.4% year-over-year to $1.1 billion mainly due to a full quarter of Horseshoe Baltimore results, the expansion of resort fees, favorable hold, and continued strong performance at Caesars Interactive Entertainment ("CIE").

Adjusted EBITDA for Continuing CEC grew 51.0% year-over-year to $317 million primarily driven by marketing and operational efficiencies and hotel customer mix improvement resulting in strong flow through from top-line growth.

CERP results reflect strong hotel performance with increased room revenues driven by cash ADR growth from resort fees and improved hotel customer mix, in addition to operating and marketing efficiencies.

CGP performance attributable to a full quarter of Horseshoe Baltimore, strong results in CIE's social and mobile games business, resort fees, and the renovation of The LINQ Hotel & Casino.

"We are pleased with our continued strong performance system-wide in the third quarter, delivering our third consecutive quarter of EBITDA growth as well as our highest quarterly EBITDA margins since 2007, and industry-leading Las Vegas strip margins. The enterprise had solid fundamental business improvement driven by Las Vegas revenue performance and increased marketing and operational efficiencies. We remain focused on a balanced agenda of growth and efficiency initiatives to continue to fuel margin expansion and cash flow, supplemented by targeted capital investments to drive higher room rates in the Las Vegas region. We are confident that our strategy will increase value for our stakeholders over the long-term," said Mark Frissora, President and CEO of Caesars Entertainment.