Harrah’s posts $1.6 billion third quarter loss
Steve Green, Las Vegas Sun
Still struggling with the recession, Harrah’s Entertainment Inc. of Las Vegas today posted a $1.33 billion charge against earnings to write down the value of certain assets around the country, and overall posted a third quarter loss from continuing operations after taxes of $1.621 billion.
The loss, compared to a loss of $123.2 million a year earlier, was driven by the one-time writeoff as well as a 13.7 percent decline in quarterly revenue to $2.282 billion.