News Summary: Fewer visitors hurt Caesars 1st-qtr

News Summary: Caesars Entertainment posts smaller 1Q loss but weak spending hurts revenue

Associated Press

LAS VEGAS (AP) -- THE HAND: Casino operator Caesars Entertainment Corp. posted a smaller loss for its first quarter, but still missed expectations as a drop in visitors dragged down revenue.

THE ROLL: Losses shrank to $217.6 million, or $1.74 per share, from $280 million, or $2.24 a share, a year ago, when it booked a big charge. Revenue slipped 3 percent to $2.14 billion. Analysts polled by FactSet expected a loss of $1.46 per share on revenue of $2.18 billion.

LEFT OUT: Caesars is the only major U.S. casino company without a presence in the Chinese gambling enclave of Macau. Rivals Wynn and Las Vegas Sands have posted big quarterly gains, helped by their lucrative Macau resorts.

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