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Caesars Entertainment Corp First Quarter FY15 Earnings Preview
by Retta Matson Technology and Finance Writer Will the gaming giant company surprise everyone on 1QFY15 earnings?Caesars Entertainment Corporation is all set to announce its first quarter results for fiscal year 2015 on Wednesday 6. In the previous quarter of 2014, the company reported a negative astonishment of about 74.51%. In the meantime, the company has brought adverse earnings surprise over the past four quarters. Now let’s take a look on how things are going to be for this announcement.
The public gaming corp. has been unable to report a profit for quite a long time now. The company has been missing consensus estimate constantly since the second quarter of fiscal year 2013.the losses show Caesars huge debt burden that has caused interest expense to go up.
Caesars Entertainment Corp (CZR) was previously called as Harrah’s Entertainment and went private in the year 2008 followed by its acquisition by private equity companies TPG Capital and Apollo Global Management in a leveraged takeover of about $30 billion. However, it began to trade again after its initial public offering in FY12.
In spite of all the efforts to restrain debt, Caesars has unable to reach the target. Due to which, analysts believes the profit to remain soft in first quarter of FY15.
Nonetheless, the company is spending enormously on renovation in order to get more traffic. By keeping an eye on high growth markets, the company is also improving its entertainment assets and hospitality. An enhanced visitor’s pattern in Las Vegas will help them, as they are focusing on promotion and renovation of its properties. Given the positivity of tourism surrounding the region, it is expected that the properties will be able to make enhanced revenue in the coming time.
Moreover, followed by the Showboat property closure in Atlantic City, Caesars has been making marketing and promotional efforts to footstep at its different properties. In the meantime, a casino resort, Horseshoe Baltimore was open last year in August, had got a devastating response.
In contrast, Caesar Entertainment is making significant efforts to reduce its expenses and grow EBITDA via a range of different operational initiatives. All these efforts will contribute to the income in the upcoming periods or quarters.
The gaming giant stock was down0.21% to 49.30 at market close on Monday May 4.
The public gaming corp. has been unable to report a profit for quite a long time now. The company has been missing consensus estimate constantly since the second quarter of fiscal year 2013.the losses show Caesars huge debt burden that has caused interest expense to go up.
Caesars Entertainment Corp (CZR) was previously called as Harrah’s Entertainment and went private in the year 2008 followed by its acquisition by private equity companies TPG Capital and Apollo Global Management in a leveraged takeover of about $30 billion. However, it began to trade again after its initial public offering in FY12.
In spite of all the efforts to restrain debt, Caesars has unable to reach the target. Due to which, analysts believes the profit to remain soft in first quarter of FY15.
Nonetheless, the company is spending enormously on renovation in order to get more traffic. By keeping an eye on high growth markets, the company is also improving its entertainment assets and hospitality. An enhanced visitor’s pattern in Las Vegas will help them, as they are focusing on promotion and renovation of its properties. Given the positivity of tourism surrounding the region, it is expected that the properties will be able to make enhanced revenue in the coming time.
Moreover, followed by the Showboat property closure in Atlantic City, Caesars has been making marketing and promotional efforts to footstep at its different properties. In the meantime, a casino resort, Horseshoe Baltimore was open last year in August, had got a devastating response.
In contrast, Caesar Entertainment is making significant efforts to reduce its expenses and grow EBITDA via a range of different operational initiatives. All these efforts will contribute to the income in the upcoming periods or quarters.
The gaming giant stock was down0.21% to 49.30 at market close on Monday May 4.
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About Retta Matson 
Technology and Finance Writer
37 connections, 0 recommendations, 102 honor points.Joined APSense since, March 19th, 2015, From South Brentwood Blvd, United States.
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