{"id":45259,"date":"2017-02-15T14:00:35","date_gmt":"2017-02-15T22:00:35","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=45259"},"modified":"2017-02-15T11:43:38","modified_gmt":"2017-02-15T19:43:38","slug":"caesars-q4-net-loss-eclipse-analysts-expectations-ten-times","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/caesars-q4-net-loss-eclipse-analysts-expectations-ten-times\/","title":{"rendered":"Caesars Q4 Net Loss Eclipses Analysts\u2019 Expectations Ten Times Over\u00a0"},"content":{"rendered":"

Caesars Entertainment Corp\u2019s (CEC) Q4 loss was ten-times worse than analysts\u2019 predictions.<\/p>\n

Net loss for the period was\u00a0$435 million,\u00a0compared to\u00a0$39 million\u00a0in the fourth quarter of 2015, mainly due to a\u00a0$426 million\u00a0accrual related to the restructuring of its bankrupt operating unit Caesars Operating Corp (CEOC), the company said.<\/p>\n

\"Fissora\u2019s
Caesars CEO Mark Fissora says that now CEOC is able to emerge from bankruptcy, the company will focus on generating cash flow, growth and value for investors. (Image: AP)<\/figcaption><\/figure>\n

Analysts polled by\u00a0FactSet had expected a net loss of 37-cents-a-share, rather than the $3.88 per share loss Caesars reported Tuesday.<\/p>\n

Net operating losses across the whole year were $2.7 billion, thanks to $5.7 billion paid in accruals for CEOC.<\/p>\n

Looking on the Bright Side<\/b><\/h2>\n

Caesars has become accustomed to putting a positive spin on these things, and so here it is. Mark Frissora, President and Chief Executive Officer of Caesars Entertainment<\/a>, praised a \u201csecond consecutive year of solid operational improvement and margin expansion driven by strong performance in\u00a0Las Vegas, our largest market, and continued productivity improvements.\u201d<\/p>\n

Frissora added that Caesars had generated record full year cash hotel revenues, due to the renovation of over 8,000 rooms since 2014. But this is not the only reason for Caesars to be cheerful.<\/p>\n

In January a bankruptcy judge in Chicago<\/a> approved CEOC\u2019s reorganization plan, bringing an end to two years of bitter disputes with creditors as the company struggled to emerge from one of the most complex bankruptcies in a generation.\u00a0 \u00a0<\/span><\/p>\n

Reorganization Begins <\/b><\/h2>\n

Under the terms of the plan, CEOC will shave $10 billion off its $18 billion industry-high debt, while separating its US-based property assets from its gaming operations as it\u2019s spun off into a real-estate investment trust.<\/p>\n

Parent company Caesars Entertainment, meanwhile, will merge with subsidiary, Caesars Acquisition Co (CACQ.O), with a view to regrouping its casinos and hotels together.<\/p>\n

With CEOC emerging from bankruptcy sometime this year, Fissora said the group would now focus on generating cash flow, growth and value for its investors.<\/p>\n

\n

\u201cThis year, we intend to deliver additional cash flow and margin improvements while completing CEOC\u2019s restructuring,\u201d he said. \u201cThese actions will allow us to continue to generate more value for our stakeholders as we execute against our long-term plan.\u201d<\/strong><\/p>\n<\/blockquote>\n

CEC net revenues increased 2.8 percent to\u00a0$3.9 billion,\u00a0while adjusted EBITDA rose 8.6 percent to\u00a0$1.1 billion,\u00a0driven by net revenue increases and efficiency initiatives.<\/p>\n

EBITDA is considered to be a measure of the company\u2019s performance and ignores things like interest payments and corporate expenses, which suggests that, minus upheaval of debt, bankruptcy and reorganization, Caesars is heading in the right direction.<\/p>\n","protected":false},"excerpt":{"rendered":"

Caesars Entertainment Corp\u2019s (CEC) Q4 loss was ten-times worse than analysts\u2019 predictions. Net loss for the period was\u00a0$435 million,\u00a0compared to\u00a0$39 million\u00a0in the fourth quarter of 2015, mainly due to a\u00a0$426 million\u00a0accrual related to the restructuring of its bankrupt operating unit Caesars Operating Corp (CEOC), the company said. Analysts polled by\u00a0FactSet had expected a net loss […]<\/p>\n","protected":false},"author":42,"featured_media":45262,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\nCaesars Q4 Net Loss Eclipse Analysts\u2019 Expectations Ten Times Over\u00a0<\/title>\n<meta name=\"description\" content=\"Caesars reports net loss of $435 million for Q4 and $2.7 billion for the year far exceeding the estimate that analysts had previously predicted.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caesars Q4 Net Loss Eclipse Analysts\u2019 Expectations Ten Times Over\u00a0\" \/>\n<meta property=\"og:description\" content=\"Caesars reports net loss of $435 million for Q4 and $2.7 billion for the year far exceeding the estimate that analysts had previously predicted.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/caesars-q4-net-loss-eclipse-analysts-expectations-ten-times\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-15T22:00:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-02-15T19:43:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/1x-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2160\" \/>\n\t<meta property=\"og:image:height\" content=\"1440\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-q4-net-loss-eclipse-analysts-expectations-ten-times\/\",\"url\":\"https:\/\/www.casino.org\/news\/caesars-q4-net-loss-eclipse-analysts-expectations-ten-times\/\",\"name\":\"Caesars Q4 Net Loss Eclipse Analysts\u2019 Expectations Ten Times Over\u00a0\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-q4-net-loss-eclipse-analysts-expectations-ten-times\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-q4-net-loss-eclipse-analysts-expectations-ten-times\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/1x-1.jpg\",\"datePublished\":\"2017-02-15T22:00:35+00:00\",\"dateModified\":\"2017-02-15T19:43:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Caesars reports net loss of $435 million for Q4 and $2.7 billion for the year far exceeding the estimate that analysts had previously predicted.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-q4-net-loss-eclipse-analysts-expectations-ten-times\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/caesars-q4-net-loss-eclipse-analysts-expectations-ten-times\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-q4-net-loss-eclipse-analysts-expectations-ten-times\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/1x-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/1x-1.jpg\",\"width\":2160,\"height\":1440,\"caption\":\"Caesars CEO Mark Fissora says that now CEOC is able to emerge from bankruptcy, the company will focus on generating cash flow, growth and value for investors. 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