Caesars Entertainment Loss Widens On Expenses; Stock Down 4%

(RTTNews) - Casino operator Caesars Entertainment Corp (CZR) Monday reported third-quarter net loss of $908 million or $6.29 per share compared with a loss of $761 million or $6.03 per share last year.

Net revenues for the quarter rose 6% from last year to $2.21 billion, with casino revenues inching up 0.3% to $1.4 billion.

Analysts polled by Thomson Reuters estimated revenues of $2.24 billion for the quarter.

Operating expenses for the quarter were lower at $2.54 billion compared with $2.61 billion a year ago. Further interest expense increased to $708 million from $563 million last year.

Separately, Caesars named Eric Hession, the company's senior vice president and treasurer, as chief financial officer, effective January 1, 2015. Hession will succeed Donald Colvin, who retires at the end of December.