World Series of Poker champ Joe McKeehen had a $7.68 million payday this week, the WSOP also helping the third-quarter financials for Caesars.
Caesars Acquisition Company (CAC), the investment arm in Caesars Growth Partners (CGP), released its third quarter profits for 2015 and the total outcomes are mixed.
The parent business to Caesars Interactive Entertainment, the World Series of Poker and a few casinos including Planet Hollywood, Harrah’s New Orleans, plus the Horseshoe Baltimore, CAC reported total new revenues jumped to $601.2 million within the three months finished September 30, an increase of nearly 24 per cent.
Not all of the news ended up being positive, CAC also revealing that its income that is net from operations had been just $20.5 million, a 71 per cent drop year-on-year.
Caesars Acquisition’s CEO Mitch Garber had no qualms spinning the negatives into positives, saying their organization remains ‘encouraged by the performance that is strong of assets.’
Interactive Stays Active
The highlight of Q3 filing by CAC was yet again its Caesars Interactive Entertainment (CIE) arm, the division reporting $194.5 million in net revenues, a 20.4 percent yield compared to Q3 2014.
CIE is responsible for the WSOP brand name along with Caesars Palace Las Vegas and many social video gaming sites including Bingo Blitz, Slotomania, and Caesars Bingo.
‘Our Interactive Entertainment business continues to build