Loss Widens At Ceasars -- WSJ

By NATHALIE TADENA

Caesars Entertainment Corp.'s fourth-quarter loss widened because of higher interest expenses, though revenue increased at the casino operator's Las Vegas properties.

Caesars on Wednesday reported a loss of $220.6 million, or $1.76 a share, compared with a year-earlier loss of $196.7 million, or $1. Revenue rose 2.4% to $2.17 billion. The company's interest expenses increased 32%.

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The company, which went public this month and primarily operates under the Caesars, Harrah's and Horseshoe brands in the U.S., is lobbying for a new law in Congress that would allow it to operate online poker websites in the U.S. The company also set up a new subsidiary last year to open hotels with its brands, such as Caesars Palace, in buildings owned by third-party owners overseas.

Chairman and Chief Executive Gary Loveman said the company saw strong results in Las Vegas and from its international resorts and online activities, which were partially offset by challenges in certain regional domestic markets.

"The continued growth in Las Vegas was driven by robust international play and higher room and occupancy rates at our properties," Mr. Loveman said.

The Las Vegas market is expected to see continued strong group bookings and increased visitation because of the success of the company's Caesars Palace projects, Mr. Loveman said.