Caesars Interactive posts record Q1 revenues
Strong growth in social and mobile sees revenues increase 42% to $177m while EBITDA more than double to $63m
Caesars Interactive Entertainment (CIE) said net revenues increased 42% year-on-year in the first quarter of 2015 driven by continued growth in its mobile and social gaming business, in its quarterly results announcement this morning. [private]
CIE, which operators both real-money sites in New Jersey and Nevada as well as a market-leading social gaming business Playtika, saw revenues climb to US$177m for the three months ended 31 March 2015.
Adjusted EBITDA more than doubled (up 101%) to $63m, leading to an operating profit of $41m during the period.
Caesars Entertainment CEO Gary Loveman said the âspectacular performanceâ was due to âexceptionally strong organic growthâ in social and mobile as a result of focusing on monetization and releasing new games.
During the period Playtika grew monthly playing users from 511,000 in Q1 2014 to 726,000 in Q1 2015, while average revenue per user per day rose from $0.24 to $0.31.
In terms of real-money gaming in Nevada and New Jersey, Loveman said CIE âcontinued to look for ways to attract new customers and grow the business.â
âWeâre pleased to see growth in New Jersey and we continue to work on further enhancing our products and promotions for our four sites across two states,â he said.
âWe were encouraged by momentum in Pennsylvania, California, and New York three important states for further legalization of online poker and online casino games,â Loveman added.
Caesars Entertainment reported group revenues of $1.1bn with adjusted EBITDA up 36% to $301m.