Harrah’s shows record quarterly earnings but profit drops 34.3% - 2004-02-04
Harrah’s Entertainment Inc., the casino business that runs Louisiana Downs in Bossier City and a one-third interest in Turfway Park in Northern Kentucky, showed record earnings of $1.04-billion in the fourth quarter, but "higher gaming taxes and costs associated with developing growth opportunities" sent net income down to $35.4-million, down 34.3% from the $53.9-million recorded in the same period in 2002.
"Boosted by the casino industry’s strongest balance sheet, our acquisition tactic has put us on the threshold of what we believe will be a compelling long-term growth story."
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