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Non-Tech : Harrah's Entertainment (HET)

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To: DWB who started this subject	10/18/2000 8:34:29 AM
From: Paul Lee	Read Replies (2) of 164

Harrah's Entertainment Reports Third-Quarter Results Record Revenues, EBITDA Achieved Company-Wide Earnings Per Share Rise 23 Percent LAS VEGAS, Oct. 18 /PRNewswire/ -- Harrah's Entertainment, Inc. (NYSE: HET - news), the leading consumer-marketing company in the gaming industry, today reported third-quarter earnings per share before non-recurring items of 64 cents, up 23.1 percent from 52 cents per share on the same basis for the third quarter of 1999. The third-quarter per-share earnings exceeded analysts' consensus estimate of 61 cents a share. The company's third-quarter revenues were a record $953.4 million, up 17.1 percent from $814.1 million in the 1999 third quarter. Third-quarter Property Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) rose 12.4 percent to $267.8 million from $238.3 million in the year-ago quarter. ``The industry-leading marketing and information-technology capabilities we've built powered the company to record revenues at nearly every one of our Harrah's brand properties during the quarter,'' said Phil Satre, Harrah's Entertainment's Chairman and Chief Executive Officer

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