Caesars Entertainment says net revenues increased 14.7 percent to US$4.5 billion driven by increased performance of their hospitality offerings as well as Caesar Interactive’s social and mobile games business.
"Caesars achieved solid operating momentum throughout 2015. Including CEOC's results, the enterprise experienced its best full-year of operating results since 2007," said Mark Frissora, president and chief executive officer of Caesars Entertainment.
Full-year adjusted EBITDA grew 46.1 percent year on year to $1.3 billion, driven by the increase in net revenue, marketing and operational efficiencies and improved hotel customer mix.
"These results largely reflect higher hotel revenues, with cash ADR up double-digits, and increased marketing and operational efficiencies, which delivered approximately $350 million in incremental EBITDA enterprise-wide year-over-year,” Frissora continued.
Caesars Interactive reported a 30.5 percent increase in net revenues for 2015 to $766 million, while adjusted EBITDA grew 62.6 percent for the full year.
“CIE has continued to experience strong organic growth in social and mobile games due to the focus on increasing monthly unique paying users and the monetization of those users.”
We remain focused on executing a balanced agenda of enhancing revenue growth while driving productivity gains to improve margins and cash flow, while increasing long-term value for our stakeholders," Frissora concluded.
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