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.