Caesars Interactive Entertainment Q1 Revenues Increase 82 Percent
There is no sector in the gaming world as exciting and dynamic as the social gaming market. The competition is fierce which has resulted in the top gaming and gambling companies investing millions in what many see as potentially one of the highest growth sectors.
Caesars Interactive Entertainment has had a busy and fruitful year which as we reported has ensured they maintain the coveted spot of top social gaming operator. They have been busy with acquisitions like that of Pacific Interactive which provided a boost for their mobile and social platforms. This has resulted in CIE recording an impressive 82% year-on-year increase in Q1 in net revenues.
Speaking about revenues CIE say they have grown in Q1 to $124.2 m with daily users up by 10% to reach 5.7m from the same period last year. Another positive statistic was that Average Revenue per Use grew by 71% to $0.24.
Caesars made waves when they acquired Playtika as did rival IGT with their $500m Double Down Interactive acquisition. Since then there has been a tight race at the top of the social gaming leaderboard.
CEO of Caesars Interactive Mitch Garber made it clear that they intend to continue to “aggressively acquisitive in the social and mobile space” which means we can expect more gaming studios to be snapped up by CIE.
Another reason for CIE’s excellent revenues increase is their real money WSOP.com poker platform in Nevada which is reportedly has the largest market share currently. In New Jersey Caesars is performing well but is still behind Borgata with a 30% market share.
When asked about the possibility of the expanding in the U.S. Garber said he was confident that more states would look to join New Jersey, Delaware and Nevada in offering real money gaming.