Obviously, the actions of Caesars Acquisition Company’s authorities, taken towards popularizing the new products and services, turned out to be successful. The latest report show a revenue increase during the third quarter of 2014 and the mobile games as well as the social casino games became well recognized and preferred by players of all ages.
During the third quarter, Caesars generated a profit, equal to $162 million. In comparison, the profit, generated in Nevada was 74, 5%.
Caesars Acquisition Company was established an year ago by the authorities of Caesars Entertainment and it was supposed to keep the interest of Caesars Growth Partners, which is responsible for the gambling activities in several casinos throughout the United States. Meanwhile, a number of frustrated debt holders accused Caesars of making attempts to protect the venues that generate decent profits and avoid failing for bankruptcy.
In general, the revenue of Caesars Acquisition Company was estimated to be almost $486 million. Adjusted earnings were $105 million. The revenue of CIE was half the amount generated by CGP.
A bit over $10 million was the sum, that was generated through WSOP activities and real money gambling. Mitch Garber, a CEO of CACQ, commented that the percentage of online gambling activities in the state of New Jersey didn’t meet experts’ expectations and the revenue generated is still low. During the third quarter, a number of new applications, compatible with Android, were released in New Jersey and Nevada. Players who use iPhones will be also capable of downloading these applications in a few weeks.
The new applications are gaining more and more popularity and statistics confirm that statement. The percentage of users, who pay for buying “imaginary” items that allow them to upgrade and reach a higher level rose to 3, 6%. 29¢ was the revenue, generated by every individual user.
Mitch Garber also expressed his hopes that soon CACQ will work in collaboration with the authorities, who have established a program, known as Total Rewards. In brief, their intention is giving a reward to their loyal players that take the form of points, which can be redeemed for products and services, available at the land-based venues, managed by Caesars. However, the services, purchased by the loyal players, should not contain a gambling element.
According to Garber, that technique might turn out to be a successful formula for handling the online gambling market issues more efficiently and respectively, improving the annual revenues.
Those who are familiar with all local online gambling affairs, hurried up to reassure the authorities, who appear to be suspicious, that the same approach has been implemented in myVegas and the outcome was impressive.
Garber also added that CIE authorities are still not convinced of the capability of CACQ to create high quality games but things were going to change soon. CACQ will continue being determined to become a key figure on the gambling market.
