Caesars Interactive Entertainment the star of the Q1 show
The Caesars Interactive Entertainment online subsidiary of Caesars Entertainment Corporation proved to be the star of the group's diluted first quarter show this week, posting a stellar performance in social, mobile and online gambling operations.
CIE achieved adjusted earnings of $62.6 million, a rise of 101.3 percent, whilst operating income boomed 666 percent to $40.6 million and net income from continuing operations soared 992 percent to $27.3 million.
Management attributed the outstanding growth to increased activity in mobile and social gaming, with a stellar contribution from Pacific Interactive in its first full year with the group. Revenues from social and mobile increased by 44 percent to $167.6 million, and online gambling in regulated US states Nevada and New Jersey was up 6 percent at $9 million.
Virtual product sales on CIE social and mobile operations have risen, with 4.3 percent of average monthly users buying – an increase of almost 134 percent year-on-year.
ARPU (average revenue per user) was up 29 percent to 31 cents, and the number of daily active users increased 6 percent to 6,061.
On a wider group basis, Caesars Entertainment Corporation posted three-month revenues for the first quarter of $1.1 billion – a 21 percent rise y-o-y.
Online Casino News Courtesy of Infopowa