Card Player – Caesars Entertainment Corp. said this week that it lost $1.756 billion in the fourth quarter of last year, the Las Vegas Review-Journal reported. Atlantic City was largely to blame, according to the report. The massive loss was posted after the company saw more than $2 billion in revenue during the period, which ended on Dec. 31. The fourth quarter of 2012 had the company lose $435.8 million. Caesars has debt of $20.9 billion, tops in the gaming industry. It has been making moves for quite some time to reduce that figure. Progress has been made. The World…

AP – Caesars Entertainment Corp. is selling four properties to a separate unit that it controls for about $1.8 billion as it restructures its debt. The sale of Bally’s Las Vegas and the other three properties is valued by the company at about $2.2 billion, when debt and renovations at the Quad Resort & Casino are included. The other assets include Harrah’s New Orleans, and The Cromwell, which will open later this year and was formerly known as Bill’s Gamblin’ Hall & Saloon. Caesars Acquisition Co. expects the deal to close in the second quarter. Caesars Entertainment will manage the…

Land-based gaming operator Caesars Entertainment Corporation has confirmed that its subsidiary, Caesars Entertainment Operating Company, has agreed to acquire the non-gaming assets of the Atlantic Club Casino Hotel in the US state of New Jersey in a bankruptcy auction. The takeover is still reliant on approval from the bankruptcy court. While the Caesars deal includes the acquisition of the real property, the Atlantic Club’s gaming assets are being acquired by another buyer. The Atlantic Club’s current owner indicated that it plans to close the site on January 13, 2014, with Caesars expecting to close the purchase of the property shortly…

From iGaming Business – The world’s largest land-based gaming firm, Caesars Entertainment Corporation, has released its financial results for the second quarter of 2013 showing that net revenues had dropped by 0.3% year-on-year to $2.158bn. Las Vegas-based Caesars Entertainment recently had a plan to spin-off its Caesars Interactive Entertainment Incorporated subsidiary, Planet Hollywood Resort and Casino and interests in a venue under development in Baltimore into an entity christened Caesars Growth Partners LLC approved by the Nevada Gaming Commission and the operator revealed that first-half overall revenues had decreased by 1.6% year-on-year to $4.301bn. Caesars Entertainment declared that the falls…

The Nevada Gaming Commission has approved the world’s largest land-based gaming firm, Caesars Entertainment Corporation, plan to establish the Caesars Growth Partners LLC venture. Las Vegas-based Caesars Entertainment revealed in April that majority shareholders Apollo Management LP and TPG Capital LP each intend to contribute $250 million towards the new enterprise, which is to be headed by Mitch Garber, Chief Executive Officer for Caesars Interactive Entertainment Incorporated. The trio of companies will then hold a 70% share in Caesars Growth Partners and control of the Caesars Interactive Entertainment subsidiary, Planet Hollywood Resort and Casino in Las Vegas, interests in a…

From Las Vegas Review Journal The Empire put a hit on the Mafia and buried the farm. Two years after Caesars Entertainment Corp. perplexed Wall Street by acquiring social gaming operation Playtika, the casino giant has moved past rival Zynga Inc. to the top of the business model. Social casino games are free to play on the Internet, through Facebook and other platforms. Customers have the option of paying a nominal fee — often less than $1 — to acquire thousands of gaming tokens to increase their virtual bankroll. Apparently, those pennies add up. One Wall Street analyst estimated social…