Caesars Entertainment Presents Q2 Financial Results for 2013

Caesars PalaceCaesars Entertainment Corporation has reported its second quarter financial results for 2013. Progress was made in the development of the Las Vegas hospitality corridor, including The Linq and High Roller. Caesars is also going ahead with the strategic transaction to form Caesars Growth Partners and Caesars Acquisition Company. The company has bought back approximately $275 million face value of debt, and maintains $1.9 billion in liquidity.

"While challenging conditions in the gaming industry impacted our gaming revenues during the second quarter, we are beginning to observe positive underlying trends resulting directly from the investments we've made to enhance our hospitality footprint, particularly in Las Vegas," said Gary Loveman, chairman, chief executive officer and president of Caesars Entertainment Corporation. "Our performance also reflects our focus on managing operating expenses without sacrificing service."

Las Vegas properties include Bally's Las Vegas, Bill's Gamblin' Hall & Saloon ("Bill's"), Caesars Palace, Flamingo Las Vegas, Harrah's Las Vegas, Paris Las Vegas, Planet Hollywood Resort & Casino, The Quad Resort & Casino (the "Quad") and Rio. Bill's closed temporarily in early February 2013 to accommodate previously disclosed renovations and is expected to reopen sometime in 2014 as Gansevoort Las Vegas.

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