Park Place, the world's largest casino company, reported on Tuesday lower profits and cash flow for its first quarter. Photo by Jeff Scheid . An unfavorable January calendar, harsh winter weather in the East and rising energy prices saw Park Place Entertainment report declines in profits and cash flow during the recently ended first quarter. That mix left company executives arguing during a Tuesday conference call with investors and analysts that the quarter was actually stronger than the numbers demonstrate. There's good evidence we're on track.
Cash flow is defined as earnings before interest, taxes, depreciation and amortization.
Similarly, the Chinese New Year and Super Bowl weekend occurred during the same weekend this year, combining what are generally separate revenue generators. In Atlantic City, bad winter weather virtually shut down visitation to the Jersey Shore city for seven days during the quarter, executives said. Nevada is better than Atlantic City or Mississippi.