Caesars Entertainment(CZR) - 2015 Q4 - Earnings Call Presentation

Financial Performance Highlights - For the full year 2015, Caesars Entertainment Corporation (CEC) + Caesars Entertainment Operating Company (CEOC) net revenues reached $9053 million, a 6% increase year-over-year[18] - Adjusted EBITDA for CEC + CEOC in FY2015 was $2399 million, up 42% year-over-year[18] - Continuing CEC's net revenues for FY2015 were $4496 million, a 15% increase year-over-year[18] - Continuing CEC's Adjusted EBITDA for FY2015 was $1270 million, up 46% year-over-year[18] - Enterprise-wide EBITDA margin expansion was achieved through cost-saving initiatives, with an incremental $350 million of EBITDA delivered in FY2015[22] Segment Performance - Caesars Growth Partners (CGP) reported net revenue of $600 million in 4Q 2015, a 14% increase year-over-year, and Adjusted EBITDA of $157 million, up 52% year-over-year[58] - Caesars Entertainment Resort Properties (CERP) saw net revenue increase by 3% to $517 million in 4Q 2015, with Adjusted EBITDA up 41% to $145 million[55] - Caesars Interactive Entertainment (CIE) experienced a 33% year-over-year increase in net revenue, reaching $208 million, and a 67% increase in Adjusted EBITDA to $77 million[64] - CEOC's Adjusted EBITDA increased by 44% with margins up 698 basis points year-over-year[68] Strategic Initiatives and Investments - The company is investing in Las Vegas hotel room upgrades, with over 4800 rooms in Las Vegas and over 5700 enterprise-wide expected to be renovated in 2016[27] - A gaming innovation strategy is in motion, focusing on re-energizing the core slot player and engaging Millennial/Generation X customers[48]