Last €10.09 EUR
Change Today +0.092 / 0.92%
Volume 0.0
As of 2:18 AM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

caesars entertainment corp (C08) Snapshot

Open
€10.08
Previous Close
€9.99
Day High
€10.09
Day Low
€10.08
52 Week High
09/18/13 - €19.41
52 Week Low
08/13/14 - €9.45
Market Cap
1.5B
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
144.2M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for CAESARS ENTERTAINMENT CORP (C08)

caesars entertainment corp (C08) Details

Caesars Entertainment Corporation owns, operates, or manages casino entertainment facilities. Its casino entertainment facilities include land-based casinos, riverboat or dockside casinos, and managed casinos, as well as casinos combined with a thoroughbred racetrack and a harness racetrack. The company operates its casinos primarily under the Caesars, Harrah’s, and Horseshoe names. It also operates hotel and convention space, restaurants, and non-gaming entertainment facilities. In addition, the company owns and operates an online gaming business that provides various real money games in Nevada, New Jersey, and the United Kingdom; offers ‘play for fun’ offerings to customers internationally; and provides social games on Facebook and other social media Websites, and mobile application platforms. Further, it owns and operates the World Series of Poker tournament and brand; and owns the London Clubs International family of casinos. As of December 31, 2013, the company owned, operated, or managed 52 casinos in 5 countries, as well as in the 13 states of the United States. Its facilities had an aggregate of approximately 3 million square feet of gaming space and approximately 42,000 hotel rooms. The company was formerly known as Harrah’s Entertainment Inc. and changed its name to Caesars Entertainment Corporation in November 2010. Caesars Entertainment Corporation was founded in 1937 and is based in Las Vegas, Nevada.

Founded in 1937

caesars entertainment corp (C08) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $1.9M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $700.0K
Global President of Destination Markets
Total Annual Compensation: $1.2M
Chief Regulatory & Compliance Officer, Execut...
Total Annual Compensation: $800.0K
Chief Accounting Officer, Senior Vice Preside...
Total Annual Compensation: $399.2K
Compensation as of Fiscal Year 2013.

caesars entertainment corp (C08) Key Developments

Caesars Entertainment To Close Showboat Casino Hotel

Caesars Entertainment Corporation (NasdaqGS:CZR) is in talks for possible sale of Showboat Atlantic City Hotel and Casino to potential buyer. Company spokesman, Gary Thompson, told The Associated Press that Caesars officials were showing the Showboat on August 26, 2014 to a party that had expressed interest. The casino is due to close on August 31, 2014, along with Revel and Trump Plaza. "We continue to review inquiries from potential purchasers and, in fact, are conducting a tour of the property with an interested party today," said Gary Thompson. Earlier Caesars Entertainment had repeatedly there are too many casinos in Atlantic City, and has worked to reduce that number.

Caesars Entertainment Operating Company, Inc. and Caesars Entertainment Corporation Announces 6.50% Senior Notes Due 2016 and 5.75% Senior Notes Due 2017

Caesars Entertainment Operating Company, Inc. and Caesars Entertainment Corporation announced that they have reached an agreement with certain holders of CEOC's outstanding 6.50% Senior Notes due 2016 and 5.75% Senior Notes due 2017 in connection with a private refinancing transaction, pursuant to which, among other things, such Holders, representing $237.8 millionaggregate principal amount of the Notes and greater than 51% of each class of the Notes that are held by non-affiliates of CEC and CEOC, have agreed to sell to CEC and CEOC an aggregate principal amount of approximately $89.4 million of the 2016 Notes and an aggregate principal amount of approximately $66.0 million of the 2017 Notes, CEC has agreed to pay such Holders a ratable amount of $77.7 million of cash in the aggregate, CEOC has agreed to pay such Holders a ratable amount of $77.7 million of cash in the aggregate, CEOC has agreed to pay such Holders accrued and unpaid interest in cash and CEC has agreed to contribute no less than $393 million aggregate principal amount of the Notes to CEOC for cancellation. Upon the closing of the transaction, CEOC expects that its indebtedness would decrease by approximately $548.4 million. Pursuant to the note purchase and support agreement, certain of the holders have also agreed to consent to amendments to the terms of the indentures that govern the notes and to amendments to a ratable amount of approximately $82.4 million face amount of the notes held by such holders and agreed that for the period from the closing date of the transaction until the earlier of the 181 day after the closing date of the transaction and the occurrence of a credit event within the meaning of Section 4.2 or 4.5 of the 2003 ISDA definitions, such holders will consent or approve a restructuring of notes and amended CEOC notes on the terms described below and, subject to certain exceptions, will not transfer their amended CEOC notes except to a transferee that agrees to be bound by such agreement. The Indenture Amendments include a consent to the removal and acknowledgement of the termination of the CEC guarantee within the indenture governing the Notes and a modification to the covenant restricting disposition of substantially all of CEOC's assets to measure future asset sales based on CEOC's assets as of the date of the amendment. The notes amendments include provisions that holders of the amended CEOC notes will be deemed to consent to any restructuring of notes and amended CEOC notes so long as holders have consented thereto that hold at least 10% of the outstanding 2016 notes and 2017 notes, as applicable the restructuring solicitation is no less favorable to any holder of amended CEOC notes than to any holder of notes, and certain other terms and conditions are satisfied. The proposed indenture amendments and the proposed notes amendments would not become operative until the closing of the transaction. In connection with the transaction, CEOC and CEC also agreed that if no restructuring of CEOC is consummated within eighteen months of the closing of the transaction, subject to certain conditions, CEC will be obligated to make an additional payment to CEOC of $35 million.

Caesars Entertainment Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Caesars Entertainment Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported income from operations of $106.3 million, loss from continuing operations before income taxes of $574.7 million, loss from continuing operations, net of income taxes of $406.5 million or $3.06 loss per share, net loss of $432.9 million, net loss attributable to Caesars was $466.4 million or $3.24 loss per share on net revenues of $2,185.5 million against income from operations of $132.4 million, loss from continuing operations before income taxes of $317.4 million, loss from continuing operations, net of income taxes of $204.2 million or $1.65 loss per share, net loss of $209.2 million, net loss attributable to Caesars was $212.2 million or $1.69 loss per share on net revenues of $2,121.3 million for the same period a year ago. EBITDA was $193.0 million against $392.5 million for the same period a year ago. Adjusted EBITDA was $455.1 million against $470.5 million for the same period a year ago. Consolidated net revenues increased primarily due to growth in the social and mobile gaming business of Caesars Interactive Entertainment Inc., partially offset by a 1.9% decline in casino revenues. The decrease in income from operation is primarily due to the income impact of a 5.6% decrease in casino revenues and higher property expenses resulting from a 2013 non-recurring reversal of approximately $9.0 million in previously accrued reserves related to the taxability of complimentary meals provided to Nevada employees that did not recur in 2014 and increased marketing spend. The net loss increased primarily due to the factors discussed in 'Income from Operations', the reduction in the tax benefits related to current year losses subject to a federal valuation allowance, as well as a pre-tax $113.7 million increase in interest expense. For the six months, the company reported income from operations of $248.3 million, loss from continuing operations before income taxes of $1,025.2 million, loss from continuing operations, net of income taxes of $702.5 million or $5.26 loss per share, net loss of $815.6 million, net loss attributable to Caesars was $852.9 million or $6.06 loss per share on net revenues of $4,254.7 million against income from operations of $277.6 million, loss from continuing operations before income taxes of $780.1 million, loss from continuing operations, net of income taxes of $377.5 million or $3.04 loss per share, net loss of $426.2 million, net loss attributable to Caesars was $430.1 million or $3.43 loss per share on net revenues of $4,228.0 million for the same period a year ago. EBITDA was $406.3 million against $660.0 million for the same period a year ago. Adjusted EBITDA was $878.9 million against $940.2 million for the same period a year ago. The company reported impairment of intangible and tangible assets was $32.9 million against $104.7 million for the same period a year ago.

 

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