The rise helped group net revenues reach $2.27bn, a 4.3% increase on the corresponding period in 2011, although group losses nearly doubled year-on-year to $280.6m. Online and social revenues now count for 2.8% of its overall revenues.
The operator’s egaming arm Caesars Interactive Entertainment (CIE) acquired a 51% stake in social games developer Playtika last May before making it a fully-owned subsidiary by securing the remaining 49% in Q4 2011. However in an analyst call last night CEO Gary Loveman described the social investment as "A lot of effort, not a lot of results."
Earlier this year CIE extended its agreements with Dragonfish and Barrière ahead of potential US regulation, while last month, at the start of the operator’s second quarter, Caesars received a $60.8m investment in CIE from Ohio-based casino group Rock Gaming.