The list of corporate executives wanting to thank U.S. President Donald Trump for approving a one-time tax benefit has become longer.
Nasdaq-listed casino operator Caesars Entertainment Corporation (CEC) trimmed its net loss in 2017, thanks to the $2 billion boon linked to the recent changes in the U.S. tax code.
In a regulatory filing, Caesars announced that its net revenue jumped 25.1 percent to $4.85 billion in 2017 from $3.9 billion in 2016. Same-store net revenues remained flat at $8.12 billion, according to the company.
The casino operator would’ve registered a loss once again this year due to the $2.03 billion restructuring expenses related to Caesars Entertainment Operating Co.’s (CEOC) emergence and a $232 million loss on debt extinguishment, if not for Trump’s tax benefit.