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August 31, 2015 10:28 AM ET

Hotels, Restaurants and Leisure

Company Overview of Caesars Entertainment Operating Company, Inc.

Company Overview

Caesars Entertainment Operating Company, Inc. provides casino entertainment services. The company’s entertainment facilities include casinos, hotel and convention space, restaurants, and non-gaming entertainment facilities. As of December 31, 2012, the company owned, operated, or managed 52 casinos in 13 states of the United States and in 7 countries, including 33 land-based casinos, 11 riverboat or dockside casinos, 3 managed casinos on Indian lands in the United States, 1 managed casino in Cleveland, 1 managed casino in Canada, 1 casino combined with a greyhound racetrack, 1 casino combined with a thoroughbred racetrack, and 1 casino combined with a harness racetrack with approximately 3 m...

One Caesars Palace Drive

Las Vegas, NV 89109

United States

Phone:

702-407-6000

Key Executives for Caesars Entertainment Operating Company, Inc.

Chief Executive Officer
Age: 47
Chief Financial Officer
Age: 57
Chief Accounting Officer and Vice President
Age: 46
Senior Vice President, Deputy General Counsel and Corporate Secretary
Age: 46
Chief Restructuring Officer
Compensation as of Fiscal Year 2015.

Caesars Entertainment Operating Company, Inc. Key Developments

Caesars Entertainment Operating Company, Inc. Announces Unaudited Earnings Results for the Six Months Ended June 30, 2015

Caesars Entertainment Operating Company, Inc. announced unaudited earnings results for the six months ended June 30, 2015. For the six months, the company reported net revenues were $158 million compared to $2,296 million a year ago. Income from operations was $9 million compared to $84 million a year ago. Adjusted EBITDA was $34 million compared to $422 million a year ago. Property EBITDA was $31 million compared to $480 million a year ago. Net loss attributable to the company was $85 million compared to net loss attributable to the company of $779 million a year ago. Loss from continuing operations before income taxes was $78 million compared to loss of $930 million a year ago.

Caesars Entertainment and Caesars Entertainment Operating Co. Announce Amended Restructuring Support Agreement with First Lien Noteholders

Caesars Entertainment Corporation and Caesars Entertainment Operating Company, Inc. have entered into an amended Restructuring Support Agreement with First Lien Noteholders. The agreement reaffirms support of CEOC's large creditor constituency and, along with the recently announced Second Lien Noteholder restructuring support agreement, provides a continued platform for a consensual restructuring. Pursuant to the RSA, the Noteholders, Caesars Entertainment and CEOC have agreed to a revised set of case milestones in addition to several significant enhancements to the transaction for the benefit of all creditors, including the First Lien Noteholders, First Lien Bank Lenders and Non-First Lien Noteholders.

Caesars Entertainment Operating Company, Inc. Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Caesars Entertainment Operating Company, Inc. announced unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net revenues of $164 million against $1,181 million a year ago. Income from operations was $9 million against $48 million a year ago. Adjusted EBITDA, Legal Entity was $34 million against $248 million a year ago. Property EBITDA was $31 million against $241 million a year ago. Net loss attributable to company was $85 million against $440 million a year ago. Net loss was $85 million against $438 million a year ago. Net loss from continuing operations was $78 million against $451 million a year ago.

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