Caesars Entertainment Corp. on Monday reported a loss of $791 million in its third quarter largely due to costs associated with the restructuring of its bankrupt subsidiary, The Associated Press reported yesterday. The company has not been including its operating subsidiary in its results since the unit filed for bankruptcy protection earlier this year, which makes it difficult to compare year-over-year financials. Caesars has promised $966 million to the holders of first-lien debt in the subsidiary Caesars Entertainment Operating Co. as part of its restructuring plan, leading to $935 million worth of costs in the third quarter. Overall revenue for the casino company was up 12.4 percent compared to a year ago, not counting its bankrupt subsidiary, to $1.14 billion, and the company earned $139 million from operations. Caesars also announced plans to remodel more of its Las Vegas Strip rooms and is testing what might draw younger would-be gamblers to its casino floors.
