Caesars World Inc. posted a 37% increase...

Caesars World Inc. posted a 37% increase in income to $14.7 million for the third quarter. The Los Angeles-based casino and hotel concern said revenue was nearly flat at $195 million. The company noted, however, that its effective tax rate decreased to about 38% from 48% a year ago. The company also noted the fiscal 1987 third quarter was adversely affected by an unusual pretax charge of $5.3 million resulting from expenses related to a proposed recapitalization program and a hostile tender offer.