Caesars Acquisition Company Reports First Quarter 2016 Results

LAS VEGAS, May 5, 2016

• Achieved another strong quarter in the Interactive Entertainment business unit with net revenues and Adjusted EBITDA up 29.0% and 42.7% for the three month period ended March 31, 2016 as compared to the three-month period ended March 31, 2015.
• Recorded consistent growth in the Casino Properties and Developments business unit with net revenues and Adjusted EBITDA up 6.6% and 19.5% for the three month period ended March 31, 2016 as compared to the three-month period ended March 31, 2015.

Operating Results of CGP LLC

	Three Months Ended March 31,								Percent Favorable/ (Unfavorable)
(In millions)	2016				2015 ARIVA.DE Börsen-Geflüster Kurse Caesars Acquisition Company -   0,00% Caesars Entertainment (old) -   0,00%
Interactive entertainment net revenues	$	227.8			$	176.6			29.0%
Casino properties and developments net revenues	415.8				389.9				6.6%
Total net revenues	643.6				566.5				13.6%
Income from operations	115.9				204.7				(43.4)%
Net income	36.9				144.1				(74.4)%
Adjusted EBITDA(1)	194.6				148.0				31.5%

_____________________________________________________

Financial Results

Net revenues for the first quarter of 2016 were $643.6 million as compared to $566.5 million for the respective period in 2015, which was an increase of $77.1 million, or 13.6%. The increase in revenue for Caesars Interactive Entertainment, Inc. ("Caesars Interactive," "Interactive Entertainment" or "CIE") was primarily driven by strong organic growth in the social and mobile games operating unit due to the continued focus on conversion and monetization. The increase in revenues for Casino Properties and Developments was primarily due to the availability of rooms and increased room rates as a result of renovations at The LINQ Hotel & Casino which was substantially completed and available to guests in early May 2015 and an increase in entertainment revenues at Planet Hollywood offset by lower revenues at Harrah's New Orleans as a result of the April 2015 smoking ban.

Income from operations for the first quarter of 2016 was $115.9 million as compared to $204.7 million for the same period in 2015, which was a decrease of $88.8 million, or 43.4%. The decrease in income from operations was primarily driven by the change in the fair value of contingently issuable non-voting membership units recognized in the prior year with no change in the fair value of contingently issuable non-voting membership units recognized subsequent to December 31, 2015 offset by the income impact of increased revenues. Excluding the impact of the change in fair value of contingently issuable non-voting membership units, income from operations increased by $28.7 million primarily due to the year over year growth in CIE and Horseshoe Baltimore as well as the availability of rooms and increased room rates as a result of renovations at The LINQ Hotel & Casino.

Adjusted EBITDA for the first quarter of 2016 was $194.6 million as compared to $148.0 million for the same period in 2015, which is an increase of $46.6 million, or 31.5%, driven primarily by the income impact of increased revenues at CIE and The LINQ Hotel & Casino.

Business Units Operating Results

Interactive Entertainment

_____________________________________________________

Interactive Entertainment net revenues increased by $51.2 million, or 29.0%, in the first quarter of 2016 as compared to the same period in 2015, resulting primarily from strong organic growth in CIE's social and mobile games due to the continued focus on conversion and monetization. Income from operations increased by $12.8 million, or 31.5%, in the first quarter of 2016 as compared to the same period in 2015, primarily driven by the income impact of increased revenues, partially offset by increases in stock-based compensation and sales and marketing expenses. Adjusted EBITDA increased by $26.7 million, or 42.7%, in the first quarter of 2016 as compared to the same period in 2015, driven by the income impact of increased revenues and reduced marketing expenses for real money online gaming.

Performance Metrics - Interactive Entertainment

The table below shows the results of CIE's business based upon the financial metrics for the periods presented.

	For the Three Months Ended
(In millions)	Mar. 31, 2016				Dec. 31, 2015				Sept. 30, 2015				Jun. 30, 2015				Mar. 31, 2015
Revenues
Social and mobile games	$	218.2			$	198.8			$	183.5			$	175.4			$	167.6
WSOP and online real money gaming	9.6				10.4				11.0				10.8				9.0 Werbung Mehr Nachrichten zur Caesars Entertainment (old) Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 06.05.24 - ARIVA.DE Redaktion Aktien USA: S&P 500 profitiert gegenwärtig leicht (5.167 Pkt.) 06.05.24 - ARIVA.DE Redaktion Kursgewinne für den Anteilsschein von Infineon (31,92 €) 06.05.24 - ARIVA.DE Redaktion Volkswagen-Aktie gewinnt 2,08 Prozent (117,90 €) Unverzichtbar für Ihr Depot    Steigende Nachfrage sorgt JETZT für Tenbaggerpotenzial weiterlesen» Anzeige wo-site-teaser-box-16860_site-teaser-box_2024-05-06_07%253A00%253A00_2024-05-07_09%253A00%253A59