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>\nCEC 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":"\n
Caesars Q4 Net Loss Eclipse Analysts\u2019 Expectations Ten Times Over\u00a0<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n