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aug
13

Caesars Reports Loss of $466.4 Million For Second Quarter
Tags: Atlantic City, Caesars Entrainment, Q2, stocks.
Posted on 13 August 2014 by "T".

On Monday, Caesars Entrainment Corp., which runs casinos across the U.S., reported that they had made a loss of $466.4 million in second-quarter of 2014, compared with a prior-year loss of $212.2 million.

The casino operator said that strong Las Vegas results were offset by continuing weakness in Atlantic City and regional markets. Caesars has not posted a single profit since 2009 and has more than $20 billion in debt. The stock has fallen 37 percent this year alone.

According The Wall Street Journal, Caesars will soon be opening a casino in downtown Baltimore and close one in Atlantic City in order to try and turn things around for the better. The company has also tried to acquire a gambling license in Macau - but so far without any success.

 

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11 comments on "Caesars Reports Loss of $466.4 Million For Second Quarter"


 doubletop77713/08/2014 10:26:51 GMT
This is an incredible amount of money to be losing every year and it is baffling how they can stay in buisness while suffering such huge losses. Never thought casino's could lose so much
 shokaku13/08/2014 13:42:30 GMT
No profit since 2009? That are 5 full years. Outsch. And when one looks at the data in the article, the losses are getting bigger. That doesn't look good. The downturn of 2008 has robbed to many people of the money necessary for gambling.
 Heskor13/08/2014 14:33:02 GMT
Holy shit, casinos losing this is new to me, they should have the edge in the games and no wonder how they got into loss, they might be just being wrongly managed giving too much credits and then not being able to recover that credit from bad clients. Anyway i like it that casinos are making a loss, because they deserve it they are here to make punters happy hehe. Cheers for the news brighten my day. Smile We all hate casinos when they win right?
 pochui14/08/2014 06:25:01 GMT
lol yeah they are bleeding cash big time, deffo need to change sth and find some extra sources of income. @Heskor- casinos still do have an edge in all games and will have it as long as gambling exists, however they do have high running costs and loans to pay up and the amount that they are making from gamblers doesn't cover the expenses at the moment... to put it simply- not enough people are playing and this especially goes to the high rollers
 leoberra15/08/2014 22:07:56 GMT
I do not particularly think the casinos den lost.

They may be earning less, that sounds more real. There was an economic crisis and many sectors is earning less.

But the entertainment industry in my opinion increases when everything goes wrong .. is the relief of many ....
 demodawggy15/08/2014 23:18:15 GMT
Wow,....Big losses.... but take into account all the years in the money...! I don't think they'll be going bankrupt anytime soon,...!

....and don't worry folks,....if the whole thing DOES go belly up,...you can rest assured that the top executives, and the major shareholders will make off with HANDSOME sums of L@@T...!

NObody's gonna starve here,...unless YOUR involvement with the corporation involves wearing a name tag,.... Big Smile
 peesiks16/08/2014 00:09:15 GMT
I'm curious how handle online poker rooms. Maybe some of players prefer play in their own house drinking beer and eat pickled cucumbers than go to casino.
 LIKEIT2716/08/2014 13:55:08 GMT
5 years amazing.........................
How mutch buffer do they have and how mutch they still want to invest Confused
 av196616/08/2014 23:14:52 GMT
Man now I known that the world is near the end Casinos losing money? Cool Cool
And for five years in a row! Maybe the tradition is changing and the house doesn´t always wins Big Smile Big Smile
Still crying over there loss Big Smile Big Smile
Like every thing at gambling they are on a slump
 xgcsnippy17/08/2014 00:37:53 GMT
They forgot to mention Ceasers canada probably brought them down a bit too as the Detroit casinos are taking business away from Ceasers in Windsor!



------------
uh oh, maybe no more free drinks in vegas?
 LIKEIT2717/08/2014 00:41:40 GMT
Posted by av1966:
Man now I known that the world is near the end Casinos losing money? Cool Cool
And for five years in a row! Maybe the tradition is changing and the house doesn't always wins Big Smile Big Smile
Still crying over there loss Big Smile Big Smile
Like every thing at gambling they are on a slump



lol was thinking the same ,
maybe changing the house win (Important except players from ceasar Big Smile

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