Caesars Entertainment is bullish on the year ahead, and investors apparently are as well.<\/p>\n
On Thursday, 28.22 million shares of the company were traded on 55,937 transactions. Such unusually busy activity typically hints that investors are confident about a company’s direction.<\/p>\n
But Hession says there are some reasons for concern, specifically in Atlantic City, where the gaming operator owns three out of seven casinos. And before 2018 wraps up, two additional gaming venues are expected to open: the Hard Rock and Ocean Resort.<\/p>\n
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“We do expect to face some challenges in 2018,” Hession admitted. “We believe the introduction of new competition in some of the regional markets, particularly in Atlantic City, will negatively impact our results in the second half of the year.”<\/p>\n<\/div>\n
Along with Hard Rock and Ocean Resort, the owner of Showboat, a former Caesars property, is deliberating about reopening the hotel’s casino. Developer Bart Blatstein filed initial licensing paperwork with the New Jersey Division of Gaming Enforcement (NJDGE) last month.<\/p>\n","protected":false},"excerpt":{"rendered":"
Caesars Entertainment reported $1.9 billion in fourth quarter net revenue, lower than the $2.01 billion predicted by many financial analysts. Despite the revenue shortfall, Caesars CEO Mark Frissora and company officers presented a rosy outlook for 2018 during Wednesday’s call with shareholders. CFO Eric Hession said the company, which emerged from bankruptcy in October, benefited […]<\/p>\n","protected":false},"author":42,"featured_media":72477,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,10,18],"tags":[],"acf":[],"yoast_head":"\n
Caesars Entertainment Credits Tax Break in Q4 Earnings Report<\/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