Two Way Hard Three | Las Vegas Casino & Design Blog

May 9, 2007

Harrah's Reports Q12007 Results

Posted by Hunter

It's funny, Harrah's is the largest gaming company in the world and I'm just totally not interested in their quarterlies. Maybe it's because they are so spread out and derive revenue from so many locales - I'm not sure.

Anyway, here's an RJ report on Harrah's luck for Q1, which it seems wasn't so awesome due to Atlantic City.

Harrah's is in the process of going private so pretty soon I won't have to write these stories any more.

http://www.lvrj.com/business/7414636.html

Technorati Tags: , , , , ,


Categories: Atlantic City, Business of Gaming, Caesars/Harrah's, Las Vegas Strip


Comments

Read archived comments (6 so far)
May 9, 2007 1:41 PM Posted by detroit1051

I'm less interested now that HET is going private and no longer has conference calls. It will be interesting to see what happens to the Strip redevelopment plan. It's clearly not going to be as impressive as originally planned before expense cutting became the new norm.

May 9, 2007 4:52 PM Posted by BrianFey

Let me see if I understand this. HET ownes or operates almost 50 seperate casinos around the world. They made about 180 Million for the quarter. Wynn operates 2 casino's and made almost 60 million. What's wrong with this picture? That makes Wynn stock which is for some stupid reason, now under $100, look like a bargain!

May 9, 2007 8:38 PM Posted by Tom M

Until they acquired Caesar's, Harrah's simply did not compete in the high end market. They don't have the big swings in revenue or the big winnings that come from the super high end gamers. I am not sure what they are doing at this point. There seems to be very little communication of goals and objectives now that they are going private. I doubt that the vision that they had for the strip will come to pass in the forseeable future. Too bad becuase it really would be nice to see some of the older properties get knocked down and redone.

May 10, 2007 6:29 AM Posted by Brian Fey

Tom, I agree. HET needs to find their own idenity. They seem like a lost company. They own lots of things, be seem to have very little direction. I also agree, No way we see anything new from them to speak of in LV, anytime soon. This is very sad, I was looking SO forward to seeing the IP and possibly Bally's go bye-bye! :)

May 16, 2007 12:12 PM Posted by marlymarr

What is wrong with this company?? They finally get the opportunity to build something from the ground up and what do they do? They announce a project to build the Margaritaville casino in Biloxi...YUCK!

http://www.lvrj.com/business/7530172.html

June 6, 2007 2:05 PM Posted by Francois

First of all, not only has Harrah's Atlantic City seen a major renovation and expansion, but the entire city is simply AMAZING now, and still growing, complete with new Boardwalk expansion. I am from Atlantic City, and moved away. I went back to visit and my mind was blown! The town is unvbelievable now.