Caesars Entertainment reports 2nd-quarter loss of $123M
RENO, Nev. (AP) - Caesars Entertainment, Inc. (CZR) on Tuesday reported a second-quarter loss of $123 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Reno, Nevada-based company said it had a loss of 57 cents. Earnings, adjusted to account for discontinued operations, were 16 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The casino and resort operator posted revenue of $2.82 billion in the period, which beat Street forecasts. Eight analysts surveyed by Zacks expected $2.77 billion.
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