Harrah's Entertainment (HET) Message Board

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Non-Tech : Harrah's Entertainment (HET)

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To: DWB who wrote ()	2/9/2000 3:03:00 PM
From: Paul Lee	of 164

Robertson Stephens Reiterates Buy Rating on HET SAN FRANCISCO--(BUSINESS WIRE)--Feb. 9, 2000--Robertson Stephens Managing Director and Senior Gaming and Lodging Analyst Harry Curtis today reiterated his Buy rating on Harrah's Entertainment (NYSE:HET). Harrah's is the most diversified gaming company in the casino industry, either owning or managing casinos in 17 domestic locations "We are reiterating our Buy rating on Harrah's, after the company reported outstanding fourth quarter and year-end results," said Curtis. "For the most part, regional operating results were either in line or ahead of our forecasts. Specifically, results at the company's riverboats were well above our estimates. EBITDA from this region increased to $65.2 million, above our $56.1 million forecast." "Going forward, we estimate operating earnings-per-share growth of 18 percent in 2000 and a 20 percent increase in EBITDA, including an approximate $85 million contribution from the acquisition of Players International," said Curtis. "Harrah's is currently trading at one of the most attractive valuations relative to its peer group." Clients interested in receiving more information should contact their salesperson at (415) 781-9700.

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