Poker Good for Caesars Entertainment

2011 WSOP ESPN TV Feature Table

Caesars Entertainment Corporation, the world’s largest operator of casinos, released the second-quarter and first-half 2011 report on Tuesday, August 11, 2011.  Even thought the company reported a loss of $153.9 million it was a substantial improvement over the reported 2010 second-quarter loss of $274.0 million.

Caesars Chairman and CEO Gary Loveman attributes the improved balance sheet with the company’s cost-reduction efforts, focused marketing expenditures and increased revenues from the ten Las Vegas properties.

Loveman went on to single out the company’s premier poker tournament, The World Series of Poker, as a contributor to the improving conditions and said, “… despite turmoil in the poker community created by federal
indictments of online poker sites catering to U.S. players, the 58-event World Series of Poker drew a record number of
participants and generated a record prize pool of more than $190 million.”

Loveman also stated he believes the legalization of online poker for the U.S. market is a done deal in Washington and all that remains for online poker’s legal return is the bill being attached to legislation and passed by a Congress that views legal online poker as inevitable.  “It will happen.” he said.

I wonder if I can get a refund on some one-way tickets to Canada?