Caesars posts bigger 2Q loss

Caesars Entertainment Corp. (CZR) on Monday reported a wider loss in its second quarter.

The Las Vegas-based company posted a loss of $466.4 million, or $3.24 per share, compared with a loss of $212.2 million, or $1.69 per share, in the same quarter a year earlier.

Losses, adjusted for costs related to mergers and acquisitions and asset impairment costs, came to $2.31 per share.

The casino operator said revenue rose 3 percent to $2.19 billion from $2.12 billion in the same quarter a year earlier.

Caesars Entertainment shares have dropped $7.87, or 36.5 percent, to $13.67 since the beginning of the year. The stock has declined $4.69, or 26 percent, in the last 12 months.