Casino Choice UK News Archive
Harrah’s and MGM post huge first quarter profits
Net income for Harrah’s Entertainment Inc., the world’s biggest casino operator, had risen by 76 percent, to a massive $182.4 million. Revenue for the same period had nearly doubled to $2.4 billion.
MGM Mirage, the second biggest casino operator, has also had an impressive first-quarter, though not quite as good as Harrah’s. MGM’s net profit has risen 30 percent to $114 million, while it saw revenue jump by 56 percent to $1.9 billion.
As a result of the news, shares in both companies were up by about 2 percent on the New York Stock Exchange.
MGM Mirage, the second biggest casino operator, has also had an impressive first-quarter, though not quite as good as Harrah’s. MGM’s net profit has risen 30 percent to $114 million, while it saw revenue jump by 56 percent to $1.9 billion.
As a result of the news, shares in both companies were up by about 2 percent on the New York Stock Exchange.
Submitted: 2006/04/28 at 12:37:03
