Caesars shows $72 million loss from operations for March; revenue down

By Kali Hays

New York, May 5 – Caesars Entertainment Corp. subsidiary Caesars Entertainment Operating Co., Inc. (CEOC) reported a $71.9 million loss from operations for March on $346.2 million in net revenue, according to its monthly operating report filed Tuesday with the Securities and Exchange Commission.

In comparison, the company reported net income of $66.7 million and net revenue of $619.4 million for Jan. 15 through Feb. 28.

CEOC’s net loss for March was $76.9 million, improving from $2.42 billion during the February period.

The company also had $1.02 billion in cash and cash equivalents as of March 31, from $1.04 billion as of Feb. 28.

Caesars is a Las Vegas-based casino-entertainment company that filed for bankruptcy on Jan. 15 in the U.S. Bankruptcy Court for the Northern District of Illinois. The Chapter 11 case number is 15-01145.

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