P.M. BRIEFING : Caesars World’s Earnings Drop
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Caesars World Inc. reported today its earnings fell to $10.38 million, or 42 cents a share, for the second quarter ended Jan. 31 from $15.74 million, or 65 cents a share, a year earlier.
Second-quarter revenues dropped to $213.85 million from $198 million in the same quarter the year before. The decreased earnings in the most recent quarter were attributed to lower contributions from Nevada operations and higher expenses. Caesars New Jersey Inc., an 86.6%-owned subsidiary of Caesars World, reported a rise in second-quarter earnings to $5.73 million, or 35 cents a share, from $4.15 million, or 25 cents a share, a year earlier.
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