Caesars certainly has its work cut out for it. "The overall market for gaming in the U.S. has been pretty lackluster," Paladino said, adding that the U.S. gaming market is fairly mature and key areas are already saturated with competitive properties. Caesars has not succeeded in getting licenses to open casinos in the Asian market, which is performing much better than the U.S. market.
Caesars did succeed in reducing its net loss for the second quarter by 12.2% year-over-year to $29.5 million on net revenue of $2.2 billion. Casino revenues were down by 7.5% to $116.8 million, which was largely offset by gains in nongaming revenues.
Written by Lisa Allen in New York