But don’t ask about Caesars’ ongoing restructuring plans to handle its gaming industry-high $24.2 billion in longer term debt.
At the outset of the question-and-answer session with analysts and investors, Caesars Chairman Gary Loveman said the corporate wouldn’t provide any additional disclosures associated with its capital structure.
The first question concerned funding one of the crucial company’s new affiliate divisions.
“Unfortunately, that query fell into the demilitarized zone,” Loveman said.
The analyst, saying he had no further questions, promptly hung up.
Last week, Caesars filed a lawsuit in Ny claiming greater than 30 bondholders are disrupting the company’s restructuring efforts. A Delaware-based fund that owns a part of Caesars debt sued the corporate saying it had fraudulently transferred casino ownership to different entities.
“We have provided as much detail as we're presently in a position to and can release additional details as they become available,” Loveman said.
On Monday, Caesars said it greater than doubled its net loss for the quarter that ended June 30 despite a jump in revenue fueled by the company’s Las Vegas operations.
The casino giant, which operates nine resorts on or near the Strip, blamed a discount in tax benefits and a pre-tax increase in interest expense were factors within the company’s net loss.
Caesars reported a net lack of $466.4 million, a rise of 119.8 percent from the similar quarter a year ago. The company’s loss per share was $3.24, in comparison to $1.69 per share within the second quarter of 2013.
The company’s net revenue grew 3 percent to $2.185.5 billion.
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