Caesars Entertainment Posts $466 Million Loss

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(Bruce Bennett/Getty Images)

(Bruce Bennett/Getty Images)

(Las Vegas, NV)  —  Higher revenues couldn’t offset major losses at Caesars Entertainment.

The Las Vegas-based resort firm says it lost about $466 million in the second quarter.

The new Linq entertainment complex and High Roller observation wheel on the Strip helped boost  revenues in Las Vegas, but that was offset by reduced tax benefits and “persistent softness” at its other properties.

CEO Gary Loveman says Caesars still plans to close the Showboat in Atlantic City later this month.

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