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Harrah's Entertainment swings to 4th-quarter loss due to impairment charges

Harrah's Entertainment swings to 4th-quarter loss due to impairment charges

Harrah's Entertainment, which was recently taken private, says it swung to a fourth-quarter loss due to impairment charges.
The Las Vegas-based casino operator says it fell to a loss of $47.8 million (euro32.14 million), or 26 cents per share, compared with a profit of $47.6 million, or 25 cents per share, a year earlier.
Harrah's says its results were hurt by $169.6 million (euro114.02 million) in impairment charges.
Adjusted net income was $80.1 million (euro53.85 million), or 42 cents per share, compared with $84.9 million, or 45 cents per share.
The company says revenue climbed 8 percent to $2.63 billion (euro1.77 billion) from $2.43 billion in the previous year.
Harrah's acquisition by affiliates of Apollo Global Management LLC and TPG Capital LP closed in January.


Updated : 2021-05-10 14:14 GMT+08:00