CIE posts a 30.5 percent increase in net revenues for 2015 to $766 million, while adjusted EBITDA grew 62.6 percent for the full year
FY 2015 results posted by Caesars Entertainment reveal that net revenues increased 14.7 percent to $4.5 billion driven by increased performance of the hospitality offerings and 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 the group.
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 reported.
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,” the report notes, highlighting online performance figures:
* Q4-2015 revenue up a third y-o-y at $209.2 million, with social gaming subsidiary Playtika umbrella delivering the major portion at $198.8 million;
* Average active daily users on Playtika’s social casino games were up 11 percent in the quarter, and average monthly unique users rose 15 percent;
* Conversion rates turning social players into paying players improved significantly, with average monthly unique real-money players soaring 30.4 percent generating average revenue per user up 6 cents to 34 cents;
* Revenue from real-money online gambling activity in the quarter in regulated Nevada and New Jersey rose $1.4 million to $10.4 million, with adjusted earnings up 62.6 percent to $78 million;
* For the full year, CIE reported revenue up 30.6 percent to $785.5 million, and earnings up just short of 60 percent at $282.7 million as a result of reduced expenditure on real-money online gambling marketing;
Online Casino News Courtesy of Infopowa
