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DATE: May 26 2012
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Poker.co.uk - Poker News Archive

Wednesday 9th May 2007

Casino Firm Says Harrah to Rise in Profits

Harrah's Entertainment Inc, the world�s largest casino group with products including the World Series of Poker, announced that its first-quarter earnings had increased by 2 percent.

The Group�s net income saw a marked increase from $185.4 million from $182.4 million in the same period last year. In contrast the company�s profits, excluding one-time items, from continuing operations leveled at 88 cents per share, dipping 14 percent from $1.02 per share a year ago.

Revenue soared to $2.66 billion, a healthy 13 percent higher than the $2.36 billion reported last year.

Harrah's Entertainment is currently in the midst of a $17.1 billion takeover deal by private equity firms Apollo Management and Texas Pacific Group set to be completed by the year-end.

Source: OnlineCasinoNews

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