Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Caesars Entertainment Corp    CZR

Delayed Quote. Delayed  - 09/26 03:40:44 pm
9.7 USD   +1.68%
12:01p CAESARS ENTERTA : and Caesars Entertainment Operating Co. Provide Up..
09/23 CAESARS ENTERTA : Harrah's spending $30M on Atlantic City hotel reno..
09/21 CAESARS ENTERTA : and its Sponsors Propose to Increase Contributions..
News SummaryMost relevantAll newsSector news 

Caesars Entertainment Corp : Caesars Loss Widens on Sandy, Impairment Charges

share with twitter share with LinkedIn share with facebook
share via e-mail
02/25/2013 | 11:26pm CEST

Caesars Entertainment Corp.'s (CZR) fourth-quarter loss widened as superstorm Sandy contributed to the casino operator's revenue shortfall and results were also hurt by significant impairment charges.

Shares slid 6.1% to $11 after hours as revenue missed analysts' estimates, although the net loss was within the company's projections.

Caesars has struggled to recover fully from the recession, and hasn't posted a profit since late 2009. As its competitors have thrived in Macau, Caesars has been unable to acquire a gambling license there, and has been trying to unload its Macau properties. Instead, the debt-burdened company is dependent on U.S. markets like Las Vegas, which has seen a faltering comeback, and Atlantic City, N.J., which is poised to benefit from the impending statewide legalization of online gambling.

The company said that superstorm Sandy reduced its fourth-quarter revenue by about $40 million to $45 million because its Atlantic City properties were closed for five days and its property in Philadelphia was closed for two days. It had earlier estimated revenue reduction of $30 million to $35 million.

For the fourth quarter, Caesars reported a loss of $469.7 million, or $3.75 a share, compared with a year-earlier loss of $220.6 million, or $1.76 a share. The latest quarter included noncash charges of $448.2 million related to asset impairments.

The company last month estimated its loss at $452 million to $556 million, while analysts surveyed by Thomson Reuters were expecting a $268 million loss.

Revenue declined 4.3% to $2.02 billion, missing analysts' estimate of $2.11 billion.

Interest expenses were $527 million, from $674 million a year earlier.

In Caesars's Las Vegas segment, revenue was down 3.2%, as O'Shea's casino and several retail outlets at Harrah's Las Vegas were closed as part of Project Linq construction activities last year. Net revenue from Atlantic City slipped 19%, due mainly to Sandy.

Net revenue from the Iowa and Missouri region slid 4.6%, while the Illinois and Indiana segment reported a 2.2% decline. The company's Louisiana and Mississippi segment booked a 0.2% decrease in revenue.

Write to Debbie Cai at debbie.cai@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
01:06p CAESARS ENTERTAINMENT CORP : Entry into a Material Definitive Agreement, Complet..
12:01p CAESARS ENTERTAINMENT : and Caesars Entertainment Operating Co. Provide Update o..
09/23 CAESARS ENTERTAINMENT : Harrah's spending $30M on Atlantic City hotel renovation..
09/21 CAESARS ENTERTAINMENT CORP : Regulation FD Disclosure, Financial Statements and ..
09/21 CAESARS ENTERTAINMENT : and its Sponsors Propose to Increase Contributions to CE..
09/21DJCaesars Pledges More Than $5 Billion to Unit's Reorganization
09/19 CAESARS ENTERTAINMENT CORP : Other Events (form 8-K)
09/15 CAESARS ENTERTAINMENT : and Gamblit in Agreement to Bring Innovative Skill-Based..
09/12 CAESARS ENTERTAINMENT CORP : Entry into a Material Definitive Agreement, Financi..
09/12 CAESARS ENTERTAINMENT : Rush Street Gaming names Baumann as new COO
More news
Sector news : Casinos & Gaming - NEC
08/25DJGALAXY ENTERTAINMENT : 1st Half Net Profit HK$2.56 Billion; Up 26% on Year
08/24 Paddy Power Betfair expects faster cost savings from merger
08/18DJWYNN MACAU : 1st-Half Net Profit HK$1.14 Billion, Down 21% on Year
08/17DJCROWN RESORTS : Profit Doubles on Sale of Shares in Macau JV
08/12DJSANDS CHINA : 1st-Half Net Profit $550.6 Million; Down 25% on Year
More sector news : Casinos & Gaming - NEC
News from SeekingAlpha
09:50a David Stern to headline compelling gaming expo
09/22 Caesars' Latest Offer To Junior Debt Holders Assumes Post-Bankruptcy Plan Can..
09/22 The NBA signs intriguing data-tracking deal
09/22 Caesars +7% after offer to creditors of bankrupt unit
09/22 WALL STREET BREAKFAST : Trade Deals In Focus
Financials ($)
Sales 2016 7 278 M
EBIT 2016 773 M
Net income 2016 -
Debt 2016 9 891 M
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
EV / Sales 2016 1,55x
EV / Sales 2017 1,10x
Capitalization 1 402 M
More Financials
Duration : Period :
Caesars Entertainment Corp Technical Analysis Chart | CZR | US1276861036 | 4-Traders
Full-screen chart
Technical analysis trends CAESARS ENTERTAIN...
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 1
Average target price 8,00 $
Spread / Average Target -16%
Consensus details
Mark P. Frissora President, Chief Executive Officer & Director
Gary William Loveman Chairman
Eric Alan Hession Chief Financial Officer & Executive Vice President
Leslie Ottolenghi Chief Information Officer & Executive VP
Jeffrey D. Benjamin Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
SANDS CHINA LTD.23.93%34 758
WYNN MACAU LTD43.54%8 789
More Results