Caesars Interactive Entertainment, the online arm of US land gambling giant Caesars Entertainment, has reported on its fourth quarter, with revenues rising 63.6 percent to $156.4 million following good performances in social gaming and New Jersey online gambling interests.
CIE adjusted earnings soared to $47.9 million, but the company’s net loss more than doubled at $18.7 million compared with the same period in 2013.
Social and mobile gaming delivered $147.7 million in revenues – up 63 percent and the main contributors to the company’s performance, whilst online operations in New Jersey anmd the World Series of Poker produced significantly better revenues of $8.7 million.
Average daily active users rose 23 percent to 5.7 million mobile and social players, with monthly equivalents coming in at 17.8 million – a 12 percent increase. Average revenue per user rose 7 cents to 28 cents.
The fourth quarter capped a year in which CIE generated revenues of $586.8 million, with adjusted earnings of $21.3 million but a net loss of $20.9 million attributed to rising marketing costs in New Jersey, foreign currency exchange fluctuations, and the fourth quarter shutdown of a development facility in Minsk, Belarus.