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Harrah's Entertainment Inc. Posts Good Showing in 1st Quarter

On May 10, 2007, Harrah's Entertainment Inc., considered the biggest casino organization in the world, announced that their first quarter earnings for this year improved by 2%.

Harrah's Entertainment Inc.'s net profit saw an improvement from $182.4 million over the same period last years to $185.4 million.

In comparison with Harrah's Entertainment Inc.'s net profit, not including one time materials from the company operations stayed at $0.88 per share, sliding down 14% from $1.02 per share in 2006.

Harrah's revenue also improved to about $2.66 billion, a healthy 13% better than the $2.36 billion when compared to last year.

Harrah's Entertainment Inc. Organization is currently in the middle of a takeover bid by private equity firms Apollo Management and Texas Pacific Group worth $17.1 billion.

The takeover bid is expected to be completed this year. Harrah's Entertainment Inc. is also known for being the organizer of the World Series of Poker events. Aside from the World Series of Poker, Harrah's Entertainment Inc. owns and manages different gambling casinos in Las Vegas and all over the world.


06/25/2007 22:05 PM


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