Caesars Entertainment revenue declines

By Richard N. Velotta, Las Vegas Sun

Caesars Entertainment narrowed its losses during the first quarter but still saw revenue fall 2.9 percent, from $2.21 billion to $2.14 billion, and experienced a net loss of $216.7 million.

The company, which operates 13 Nevada casinos, including two in Stateline, and eight in Las Vegas that are open and a ninth that’s being renovated, said income from its Nevada properties fell 13.2 percent, while revenue was off 2.6 percent.

Executives reported a net loss of $1.74 a share. During the same quarter last year, the company reported a net loss of $2.24 a share, or $281.1 million.

Caesars is the world’s most geographically diverse casino company. It operates commercial and tribal casinos, racinos and riverboats in 13 states and a Canadian province and on three continents.