Caesars revenue up, but $315M net loss as Eldorado merger looms

Local News

LAS VEGAS (KLAS) — Caesars Entertainment reported second-quarter revenue of $2.22 billion, a 4.9 percent increase.

But income from operations was down 4.6 percent to $269 million, and a net loss of $315 million, about 47 cents per share.

The report comes as the company works toward a merger with Eldorado Resorts, Inc., which is based in Reno. Eldorado owns properties in 12 states. The merger agreement was announced on June 24.

It’s a cash-and-stock deal valued at $17.3 billion.

The acquisition puts about 60 casinos and resorts in 16 states under a single name, one of the biggest gambling and entertainment ventures in the United States.

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