Caesars Interactive Shows Impressive Growth
Caesars Entertainment has been under fire recently over the handling of its debt and stakeholders are unhappy with its restructuring. However, the company is currently enjoying a growing social gaming business.Statements from Caesars Acquisition Company show that Caesars Growth Partners saw an 82.4% year-over-year increase in revenues from interactive gaming in the first quarter of this year.
Revenues rose to $125.2 million. Furthermore, adjusted earnings were up 42.9% from last year. These results were thanks to “record results” from the company’s social and mobile games.
Caesars Interactive had even more impressive results. Last year interactive gaming brought in just $69.1 million for the company.
However, these revenues have now almost doubled which allowed the company to post $4.5 million in profits from its operations; the first quarter of last year saw a $37.9 million loss.
Caesars Interactive player numbers are also up. Average active user numbers have hugely increased from last year as has the average revenue per user; it is up to $0.24 from $0.14 last year. This can largely be attributed to the purchase of Pacific Interactive and the company is planning further major acquisitions in the coming years.