Caesars Entertainment Corp., the casino operator whose largest division declared bankruptcy in January, reported its best profit margin since before the financial crisis as it cut promotional costs while sales rose, Bloomberg News reported yesterday. The owner of the most casinos in the U.S. generated a 28 percent margin measured by earnings before interest, taxes, depreciation and amortization across all of its units during the second quarter, according to a presentation filed Tuesday. That was the best EBITDA-to-sales ratio since 2007, Mark Frissora, chief executive officer of Caesars, told investors. Caesars’ results underscore a broader rebound in the U.S. gambling business this year, following the slump brought on by the 2008 recession. MGM Resorts International reported higher-than-expected profits yesterday because of its domestic resorts.
