News Summary: Caesars 2Q loss shrinks

News Summary: Caesars 2Q loss shrinks, misses analysts' estimate as fewer gamble

Associated Press

LAS VEGAS (AP) -- THE BOTTOM LINE: Casino operator Caesars Entertainment Corp. said its loss for the quarter shrank 12 percent, to $212.2 million, or $1.69 per share, from $241.7 million, or $1.93 a share, last year. Analysts expected a smaller loss of $1.40 per share.

EMPTY TABLES: Casino revenue declined by $116.8 million, or 7.5 percent. Casino patrons are increasingly turning away from slot machines and table games.

WINING AND DINING: CEO Gary Loveman said food and beverage sales may ultimately replace lost gambling dollars. Caesars recently opened several restaurants affiliated with celebrity chef Gordon Ramsay.

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