Ticker	Volume	Price	Price Delta
DJIA	15,303.10	+8.60	0.06%
S&P 500	1,649.60	-0.91	-0.06%
Nasdaq	3,459.14	-0.27	-0.01%

Ticker

Volume

Price

Price Delta

DJIA

15,303.10

+8.60

0.06%

S&P 500

1,649.60

-0.91

-0.06%

Nasdaq

3,459.14

-0.27

-0.01%

Ticker	Volume	Price	Price Delta
STOXX 50	2,764.29	-12.49	-0.45%
FTSE 100	6,654.34	-42.45	-0.63%
DAX	8,305.32	-46.66	-0.56%

Ticker

Volume

Price

Price Delta

STOXX 50

2,764.29

-12.49

-0.45%

FTSE 100

6,654.34

-42.45

-0.63%

DAX

8,305.32

-46.66

-0.56%

Ticker	Volume	Price	Price Delta
Nikkei	14,612.50	+128.47	0.89%
Hang Seng	22,618.70	-51.01	-0.23%
S&P/ASX 200	4,983.50	-78.95	-1.56%

Ticker

Volume

Price

Price Delta

Nikkei

14,612.50

+128.47

0.89%

Hang Seng

22,618.70

-51.01

-0.23%

S&P/ASX 200

4,983.50

-78.95

-1.56%

Caesars Posts $220.6 Million Quarterly Loss

By Anthony Palazzo - 2012-02-29T15:03:29Z

Caesars Entertainment Corp. (CZR) posted a widening loss of $220.6 million in its last full period as a private company, as growth at its Las Vegas casino resorts fueled a 2.4 percent increase in revenue.

Fourth-quarter net loss expanded to $1.76 a share from a loss of $196.7 million, or $1.71, a year earlier, after interest expenses gained 32 percent, Las-Vegas Caesars said today in a statement. Revenue rose to $2.17 billion at the casino chain, which completed an initial public offering this month.

Caesars, with about $19.8 billion in long-term debt, has cut costs and its Caesars Palace and Planet Hollywood properties will perform better than Las Vegas generally, JPMorgan Chase & Co. credit analysts Susan Berliner and Richard DeGaetani said in a Feb. 23 report. Gambling revenue on the Las Vegas Strip rose 5.1 percent in 2011, its second annual increase, a sign that the recovery in the biggest U.S. betting market is gaining strength.

“We remain more bullish with regards to Las Vegas versus all other markets,” the New York-based analysts wrote.

Caesars added 7.6 percent to $11.68 at 9:49 a.m. in New York. The shares have gained 21 percent since the offering.

Property earnings before interest, taxes, depreciation and amortization, a closely watched measure of cash flow, increased 7.6 percent to $492.8 million, the company said.

Caesars raised $16.3 million in an initial public offering on Feb. 7 of less than 2 percent of its stock. The IPO gave firms such as Paulson & Co., the hedge fund run by billionaire John Paulson, a chance to exit and potentially return cash to investors.

The company was taken private by Apollo Global Management LLC (APO) and TPG Capital in 2008 in a $30.7 billion transaction. The IPO, priced at $9 a share, gave Caesars a $22.5 billion enterprise value, including debt.

To contact the reporter on this story: Anthony Palazzo in Los Angeles at apalazzo@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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