3 March, 2020 | By Magnus Frejd |
Caesars currently holds over $24 billion in debt.
Caesars Interactive Entertainment (CIE), as a part of Caesars Growth Partners (CGP), has been lauded as a bright spot for the Caesars brand. At any given time if the company is dealing with tremendous debt and legal actions with bondholders, CGP is overseeing online operations and other areas of growth as an ingredient of the strategy to reorganize Caesars and make the business’s funds sustainable for the long haul. It’s a bit early to express if that’s going to get results, but one this is clear: CIE is definitely holding up their element of the discount.
In the half that is first of, CIE brought in $268.8 million, an increase of almost 90 percent within the $142.1 million they introduced last year. The enhance had been slightly more dramatic within the 2nd quarter alone, with net revenues up more than 95 percent to $144.6 million.
Positive Money Flow for CIE
At the moment, CIE is losses that are still posting the 12 months. The business is down $16 million for 2014, though that is still an improvement over the $27.1 million they lost within the half that is first of. But with 20.5 million in profits in the quarter that is second it’s quite feasible that the organization could be in the black by the end of the year.
‘With the Interactive Entertainment segment generating positive income, we stay confident that our strategy to develop new projects a