Caesars Entertainment Corp. said in a securities filing that its bankrupt operating division had a net income of $53 million in April, the Las Vegas Review-Journal reported today. The division, Caesars Entertainment Operating Co. (CEOC), said that its total revenue during the month was $327.8 million, including $239.1 million in casino revenue. Caesars filed the results on Friday with the Securities and Exchange Commission. CEOC controls Caesars Palace, Caesars Atlantic City, Harrah’s Reno and more than a dozen regional properties. “[Caesars] cautions investors and potential investors not to place undue reliance upon the information contained in the monthly operating report,” the company said in the SEC filing. “[It] was not prepared for the purpose of providing the basis for an investment decision relating to any of Caesars securities, and relates solely to CEOC and certain of its U.S. subsidiaries.” Caesars Entertainment has a gaming industry high $22.8 billion in long-term debt, of which $18.4 billion is attached to CEOC. Through bankruptcy, the company hopes to eliminate almost $10 billion of the division’s debt and convert CEOC into a real estate investment trust.
