πŸ– β€’ Caesars Entertainment: revenue | Statista

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β€’ Caesars Entertainment: revenue by segment | Statista
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Caesars Entertainment said fourth-quarter revenue increased and the outlook is healthy for , supported by sports betting and Las Vegas.


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Caesars Entertainment Corp. balance sheet, income statement, cash flow, earnings & estimates, Ann. EPS Est. FY , Ann. Year Ago FY


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Eldorado CEO on why the company is merging with Caesars

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See insights on Caesars Entertainment including office locations, competitors, revenue, Revenue$ BFY, Β· Market Capitalization$ B


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Revenue of Caesars Entertainment worldwide Published by S. Lock, Jul 1, This statistic shows the revenue of Caesars Entertainment.


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Caesars Entertainment Corporation does not currently have any hardcopy reports on 24verno.ru Click the button below to request a report when.


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Revenue Percent Change. % Website, 24verno.ru Years on Caesars Entertainment Rank History Fortune Media IP Limited.


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CAESARS ENTERTAINMENT STOCK ANALYSIS: Merger with ELDORADO RESORTS

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Good afternoon and welcome to the Caesars Entertainment Corporation first-​quarter earnings conference call. Joining me today from.


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Caesars Entertainment CEO on plummeting stock price

Furloughed team members will also have government assistance available to them as a financial bridge until they do return to work. We began temporarily closing our properties in North America on March 14, and by March 17, we had shut down almost all of our properties in North America and internationally, consistent with government or tribe-mandated directives. Our group bookings in the fourth quarter are actually still ahead of last year's pace. First, we're conserving capital. Our first-quarter performance can be divided into two parts: January and February, and then the month of March. Throughout this period, our focus centered around the health and safety of our employees and guests. Lastly, in terms of our pending merger with Eldorado, we remain focused on closing the transaction. In locations with multiple properties, we plan to phase openings in line with demand and our contractual commitments. In the meantime, we're taking steps to prepare for reopening at the appropriate time and to strengthen our financial position. We have been communicating regularly with our customers during this challenging period, including working hard to alleviate the concerns of Caesars Reward members about the program by ensuring the benefits they receive are protected. Well, I mean, I don't think that -- I think we're all pretty much in agreement that we think that the regional markets are going to bounce back quicker because of the lack of -- to need to fly in. During these extraordinary times, we are committed to continue to support local communities where we operate by donating any perishable items to food banks and charities and providing critical supplies to first responders. We're taking this opportunity, while properties are closed to evaluate cost centers to ensure prudent spending as properties come back online and identify areas where we can permanently reduce expenses to help drive further profitability. While the actions we've taken are extremely difficult, we believe they're necessary for the long-term health of the company so that we can best position Caesars for a strong and sustainable future. Based on the company's ongoing efforts to address COVIDrelated needs and the communities where we operate, donations made by the Caesars Foundation will support local charities, and these communities engaged in fighting this public health emergency. My inclination is that you would be less than the average in terms of flying. Bally's Atlantic City will continue to be part of the Caesars Reward network until closing. I will now turn the call over to Tony. You may begin. Also, please note that prior to this call, we furnished a copy of the earnings release to the SEC on Form 8-K, and we'll file our Form Q shortly. Hey, guys.{/INSERTKEYS}{/PARAGRAPH} While we don't know the duration or the severity of the economic downturn stemming from this public health emergency, we recognize that a recovery will take time. With that said, first and foremost, all of us at Caesars hope that you and your loved ones are healthy and safe. Performance in Las Vegas was off to a strong start in Q1. Keep in mind, we do have the four this year. I'd also like to thank those who remain on the job to keep our property safe and secure while closed. Before we get under way, I would like to remind you that today's conference call will contain forward-looking statements that we are making under the safe harbor provisions of federal securities laws. Following the sale, we will continue to operate Caesars Atlantic City, which will include the Wild Wild West casino and sportsbook operation and Harrah's Atlantic City. But being in Caesars Palace, which usually has so much activity and energy, it's kind of eerie. I'll start by providing some details on our Q1 performance and then discuss specifics regarding our balance sheet and overall financial position. Through February, we experienced strong gaming revenue growth in Indiana and Iowa as capital projects came online including our new sportsbooks, the addition of table games at Harrah's Hoosier Park in Indiana Grand, and our new Southern Indiana land-based property, which opened in December. I know the implementation of these directives have placed extraordinary strain on all of our people. We are designing and implementing policies and procedures in consultation with an infectious disease specialist that align with recommendations from the U. Additionally, nongaming offerings, including entertainment, restaurants, and bars will likely be reopened on a phased basis with limited capacity in line with the consumer demand and guidance from public health authorities. We'll now open the call for questions. We're working closely with regulators and government and tribe officials to ensure our operations, upon reopening, will follow their directives. The combination of these efforts has enabled us to significantly reduce our daily cash requirements. In addition, we may discuss non-GAAP measures. And hopefully, in the not-too-distant future, we'll be beginning to move back normal. CDC and local public health officials to guide the reopening of our currently closed facilities, as well as ongoing maintenance of guest areas and team member work areas. {PARAGRAPH}{INSERTKEYS}Ladies and gentlemen, thank you for standing by. Temporary property closures over the last 15 days of the quarter, however, led to declines in gaming, hotel, food, and beverage and other revenues, resulting in a We saw a significant increase in cancellations of hotel and convention reservations during the quarter due to the property closures. Before we open the call for questions, please note that the purpose of today's call is to discuss our first-quarter performance. As you would expect, our health and safety initiatives include, among other things, an increased frequency of cleaning and sanitizing of public spaces and guest rooms, more frequent hand washing by team members, requiring team members to wear mass while at work, implementing social distancing in areas where there are aligned and in gaming areas, including limiting table game spots and slot machines. Before I provide commentary on the steps we're taking to protect our business and to prepare to reopen when appropriate, I'd like to express my gratitude to all of our team members who are on the front lines of our efforts to quickly and safely implement the closure of all our casino properties in March. While we look forward to answering any questions you have about Caesars, for more information regarding the proposed merger with Eldorado, please refer to our filings with the SEC. It still remains to be seen from a Las Vegas perspective, but we are seeing some encouraging statistics and information as we look toward around the fourth quarter. Now I'll turn the call over to Eric to review the financial details of the quarter. In light of the property closure since March and our inability to predict when mandated shutdown periods may conclude or at the pace with which our business may recover after reopening, we aggressively managed all of our operating levers to put us in the best position to reopen our properties at appropriate time. Please refer to Slides 17 through 22, which include forward-looking statements, safe harbor disclaimers, and definitions of certain non-GAAP measures. Your line is open. As we think about the path toward reopening, we will make decisions in collaboration with local governments, tribal authorities, gaming regulators, and health experts, among others, with the health and safety of our employees, guests, and community in mind. Given the unprecedented scale and scope of this public health emergency, we can't reliably predict when consumers will be ready to return to our properties, though we believe our deep connection with our guests and our geographic diversity positions us as well as possible. As soon as declines in the business were evident, we stopped all capital that was not critical or contractually obligated. Lastly, we're focused on preserving liquidity. The transaction is subject to regulatory approvals and other closing additions. The public health emergency caused by COVID has created challenging circumstances, that are impacting all aspects of society. Additionally, an employee assistance fund, Caesars Cares, has been established to support team members at our domestic properties who suffer unanticipated hardships arising from COVID The fund, which is run by an independent public charity and managed by a three-person board, includes two independent directors and a Caesars' representative. We will be thoughtful and responsible in terms of how we bring the business back. It's composed of donations from Caesars' board of directors, executive team members, and other employees, as well as partners and vendors. You can find further details on our health and safety approach and the announcement we put out today. Second, reducing operating expenses and discretionary spending has been postponed indefinitely. So there are some encouraging signs. The challenges we now face are uncertainty around when our properties will be able to resume operations, what that will look like and how consumers will react once we reopen, as well as preserving liquidity as best we can. Additionally, we have contributed cots, hundreds of bed linens, pillows, and hygiene kits to various homeless shelters and care facilities. Joining me today from Caesars Entertainment are Tony Rodio, chief executive officer; and Eric Hession, chief financial officer. Consistent with stay-at-home orders and other directives from various government and tribal bodies. For the first two months of the quarter, we posted our best operating performance since , reaffirming our success in executing our strategic initiatives and our strong momentum prior to the emergence of COVID While our properties were only open for part of the month, costs in markets were generally in line with the prior year as we took steps to support our team members, as Tony discussed earlier. I'd like to echo Tony's previous comments and hope that you're all safe and well. We continue to seek ways to give back as part of our commitment to get through this together. We've also worked closely with our broad family of talent, including entertainers, chefs, and our own bartenders to provide entertainment and recipes and other information to people while they are at home. Good afternoon and welcome to the Caesars Entertainment Corporation first-quarter earnings conference call. To date, Caesars has supplied hundreds of thousands of pounds of food, as well as thousands of gloves, masks, and bottles of hand sanitizers to those on the front line. We will ensure that our operations are in compliance with applicable government directives and travel mandates. Good afternoon. When the governor here in Las Vegas announced the move toward Phase 1 and the Raiders' schedule came out, we actually had a pretty significant bump in reservations booked for the fourth quarter of this year -- September through the fourth quarter of this year. Thanks, Joyce. A copy of the press release, earnings presentation slides, and a replay of this conference call are available in the Investor Relations section of our website at caesars. And actually, before I start my formal comments, I think it's worth noting me and Eric are sitting here in the conference room at Caesars Palace, and we are over six feet apart. In an effort to strengthen the company's financial position and enhance our ability to recover and we do reopen, we made the extremely difficult but necessary decision to temporarily reduce our workforce to a smaller, targeted workforce on maintaining basic operations. The other thing, our player development folks and our hosts make outbound calls to our VIPs and our customers, and we're receiving a lot of encouraging feedback that customers are eager and excited to come back. The company's actual results could differ materially from the anticipated results in the forward-looking statements. Good afternoon, everyone. Before I turn the call over to Eric, I'd like to briefly comment on a couple of business updates. If I can just follow that up and maybe ask something a bit more pointed and see if there's any info on it. Thank you, Tony. Turning to the Other U. Looking at results by segment. But I wanted to get a sense of what breakdown you can talk about between sort of driving customers versus flying customers and what insights you may be able to share about the strip to that end. Q1 occupancy decreased to While room rates fell just 1. Roughly, statistically, I think Las Vegas has about half and half drive-in versus flying in terms of visitation. These actions will significantly reduce our operating expenses going forward. We are also consulting with health experts regarding the implementation of policies and procedures that align with recommendations published by public health officials. Apologies for jumping back and forth quite a bit this afternoon with a few calls and issues going on. Thank you.