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June 02, 2015 6:13 PM ET

Hotels, Restaurants and Leisure

Company Overview of Caesars Acquisition Company

Company Overview

Caesars Acquisition Company, through its interests in Caesars Growth Partners, LLC, operates as a casino asset and entertainment company. The company focuses on acquiring and developing a portfolio of operating assets, and equity and debt investments in the gaming and interactive entertainment industries. It operates through two segments, Interactive Entertainment, and Casino Properties and Developments. The Interactive Entertainment segment offers social and mobile games comprising Slotomania, House of Fun Slots, Bingo Blitz, Caesars Casino, and the World Series of Poker (WSOP) that are played on various social and mobile third-party platforms. It also operates three regulated online real m...

One Caesars Palace Drive

Las Vegas, NV 89109

United States

Founded in 2013

Phone:

702-407-6000

Key Executives for Caesars Acquisition Company

Chief Executive Officer and President
Age: 49
Total Annual Compensation: $1.5M
Chief Financial Officer
Age: 37
Total Annual Compensation: $995.1K
Senior Vice President of Corporate Development, General Counsel and Corporate Secretary
Total Annual Compensation: $664.8K
Compensation as of Fiscal Year 2014.

Caesars Acquisition Company Key Developments

Caesars Acquisition Company Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Caesars Acquisition Company announced unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported loss from operations of $7.1 million against $5.9 million a year ago. Income before provision for income taxes was $17.1 million against $3.4 million a year ago. Net income was $8.7 million against $2.2 million a year ago. Diluted earnings per share were $0.06 against $0.02 a year ago.

Caesars Acquisition Company, Annual General Meeting, May 20, 2015

Caesars Acquisition Company, Annual General Meeting, May 20, 2015., at 10:30 Pacific Standard Time. Location: Florentine II, Caesars Palace. Agenda: To elect the Karl Peterson, David Sambur and Don Kornstein, to serve as Class II directors of the company for three-year terms, with each director to serve until the 2018 annual meeting of the stockholders of the company or until such director’s respective successor is duly elected and qualified; to ratify the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the year ending December 31, 2015; and to transact such other business as may properly come before the meeting or any adjournment of the meeting.

Caesars Acquisition Company Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Caesars Acquisition Company reported unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total net revenues of $526.9 million. Net loss from continuing operations was $265.2 million. Adjusted EBITDA was $103.4 million. Loss from operations for the fourth quarter of 2014 was $199.1 million as compared to $123.5 million for the same period in 2013. The increase in loss from operations is primarily attributable to an impairment of goodwill for Bally's Las Vegas partially offset by a decrease in the fair value of contingently issuable non-voting membership units. Adjusted EBITDA increased by $18.3 million, or 21.5%, in the fourth quarter of 2014 as compared with the fourth quarter of 2013, primarily driven by the income impact of increased revenues. Diluted earnings per share were $0.01 against $0.06 per share a year ago. For the year, the company reported total net revenues of $1,867.6 million. Net loss from continuing operations was $197.6 million. Adjusted EBITDA was $416.2 million. Loss from operations for 2014 was $108.0 million as compared to $23.3 million in 2013. The increase in loss from operations is primarily attributable to an impairment of goodwill for Bally's Las Vegas partially offset by a decrease in the fair value of contingently issuable non-voting membership units. Adjusted EBITDA increased by $77.1 million, or 22.7%, in 2014 as compared with 2013, primarily driven by the income impact of increased revenues. Diluted earnings per share were $0.11 per share.

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