Profits soar at Caesars Entertainment in first quarter

25.04.2004, Lesen Sie hier den Bericht über «Profits soar at Caesars Entertainment in first quarter».

Strong operating results at its casinos helped Caesars Entertainment Inc. post record first-quarter revenues and a 93 percent increase in profits, the company announced Thursday. Net income for the largest gambling company in the U.S. increased to $79 million, or 25 cents per share, from $41 million, or 14 cents per share a year ago, the Las Vegas-based company reported. Adjusted earnings were 23 cents per share, up from 14 cents per share, and topping Wall Street predictions of 18 cents per share.

Net revenue for the period ending March 31 was $1.19 billion, compared with $1.08 billion in the first quarter of 2003.

Cash flow was a record $312 million, up 17 percent from $267 million a year ago. "We showed substantial strength in all of our regions," Caesars Entertainment President and Chief Executive Officer Wallace R. Barr said in a statement. "We're doing a better job of managing the resources that we have, and we continue to make disciplined investments that are paying off for the company and our shareholders."

Caesars stock was trading Thursday at $14.34, up 2 cents on the New York Stock Exchange. Caesars Entertainment is one of the world's biggest gambling companies with $4.5 billion in annual net revenue, 29 properties on four continents, 29,000 hotel rooms and 55,000 employees. The company owns Caesars, Bally's, Flamingo and the Paris hotel-casinos.

Über Caesars Palace:

Das Caesars Palace ist ein Hotel und Casino in Las Vegas USA. Es ist im Stil eines antiken römischen Palastes errichtet.

Das luxuriöse Hotel am Las Vegas Boulevard besitzt 3'348 Gästezimmer und Suiten. Säulen, Statuen und Wasser-Fontänen prägen das Erscheinungsbild. Das im Hotel integrierte Spielcasino belegt eine Fläche von etwa 12'000 Quadratmeter. Die Forum Shops, ein grosses Einkaufszentrum mit exklusiven Geschäften, und ein Schwimmbad-Bereich mit vielen Säulen und Marmor gehören zu dem Komplex.

Caesars Palace is a modern wonderland of luxury and excitement and is widely recognized among the world's greatest hotels. Located at the heart of the world famous Las Vegas Strip.In addition, Caesars Palace is home to the Garden of the Gods, a 4.5-acre pool complex and a world-class 22,000 sq. foot fitness center and spa.

The Forum Shops at Caesars and The Appian Way are two extraordinary collections of exquisite stores, restaurants and family entertainment set in an ancient Roman marketplace. While the hotel itself features 8 restaurants onsite, The Forum Shops offer another 14 restaurants, as well.

Das Casino gehört zu Caesars Entertainment. Caesars Entertainment Inc. wurde 1937 als Harrah's gegründet und wurde 2010 in Caesars Entertainment umbenannt. Besitzer sind die Investment-Firmen Apollo Global Management, TPG Capital und The Blackstone Group.

--- Ende Artikel / Pressemitteilung Profits soar at Caesars Entertainment in first quarter ---


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