Company to pursue “diversified” growth strategy
Caesars posts 3Q loss
The casino operator posted revenue of USD 986M in the period.
2017-11-03
Reading time 31 seg
Caesars Entertainment Corp. Reported on Wednesday a loss of USD 468M in its third quarter.
On a per-share basis, the Las Vegas-based company said it had a loss of $3.14. Losses, adjusted for restructuring costs, came to $1.19 per share.
The casino operator posted revenue of $986 million in the period.
Caesars shares have risen 52% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.95, a climb of 82 percent in the last 12 months.
"We were pleased to have completed the restructuring of CEOC and merger with CAC on October 6, simplifying our business and allowing us to turn our full attention to our growth initiatives," said CEO Frissora. We are well positioned to continue to invest in our core business and pursue a more diversified growth strategy."
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