LAS VEGAS (AP) _ Caesars Entertainment Corp. (CZR) on Monday reported a second-quarter loss of $315 million, after reporting a profit in the same period a year earlier.
The Las Vegas-based company said it had a loss of 47 cents per share. Losses, adjusted for non-recurring costs and asset impairment costs, came to 6 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The casino operator posted revenue of $2.22 billion in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $2.19 billion.
Caesars shares have climbed 71% since the beginning of the year. In the final minutes of trading on Monday, shares hit $11.59, a rise of 24% in the last 12 months.