Less than a month after receiving final approval for the deal to save its Caesars Entertainment Operating Company Incorporated subordinate from a contentious two-year bankruptcy and American casino giant Caesars Entertainment Corporation has released its fourth quarter and full-year financial results.

Caesars Entertainment Corporation, which is responsible for such properties as the Rio All Suite Las Vegas Hotel And Casino, Bally’s Atlantic City Hotel And Casino and Caesars Windsor Hotel And Casino, revealed that fourth-quarter casino revenues had risen by 3.2% year-on-year to reach $544 million while net takings for the three-month period increased by 3% to reach $949 million.

The Las Vegas-based firm explained that its fourth-quarter operations income swelled by almost 149% year-on-year to $102 million while the period saw adjusted earnings before interest, tax, depreciation and amortization climb by 10.6% to $250 million. It declared that these improvements were mainly due to “increases in net revenues and efficiency initiatives” before detailing that its three-month property earnings before interest, tax, depreciation and amortization had advanced by 15.2% to hit $273 million.

However, the company reported that its net loss for the final three months of 2016 had totaled $435 million, which compares with a deficit of $39 million for the same period in 2015, due to a $426 million accrual related to its estimate of the additional amount it may have to pay in order to support the restructuring of Caesars Entertainment Operating Company Incorporated.

For the full year, Caesars Entertainment Corporation revealed a 0.4% year-on-year boost in casino takings to just over $2.17 billion while its net revenues advanced by 2.8% to nearly $3.88 billion. It explained that annual adjusted earnings before interest, tax, depreciation and amortization had hit $1.07 billion, which was a swell of some 34%, while property earnings before interest, tax, depreciation and amortization rose by 31% to $1.14 billion.

Again, however, the casino operator explained that the situation with Caesars Entertainment Operating Company Incorporated had led to it reporting an annual net loss of $2.74 billion, which compares with 2015’s surplus of $6.13 billion, as deconsolidation and restructuring costs hit $5.75 billion.

“Caesars Entertainment [Corporation] delivered a second consecutive year of solid operational improvement and margin expansion driven by strong performance in Las Vegas, our largest market, and continued productivity improvements,” read a statement from Mark Frissora, President and Chief Executive Officer for Caesars Entertainment Corporation. “We also generated record full-year cash hotel revenues as we renovated over 8,000 rooms domestically since 2014. This year, we intend to deliver additional cash flow and margin improvements while completing [Caesars Entertainment Operating Company Incorporated’s] restructuring. These actions will allow us to continue to generate more value for our stakeholders as we execute against our long-term plan.”

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