Harrah's
forecast for
earnings better
than anticipated
April 7
Today, Harrah's
Entertainment
Inc. caught
gaming
forecasters off
guard as they
proposed that
its first
quarter
adjusted revenue
per share
would come-in
somewhere
between 95 and
99 cents,
stomping all
over its
beginning
earnings
estimates of 83
cents. The
financial
results are to
be announced in
formality on
April 20.
The
company,
headquartered in
Vegas,
owns Harrah's
Las Vegas and
the Rio. Also,
HEI is on course
to buy Caesars
Entertainment
Inc.
Today, in
response to the
good news,
investors raised
Harrah's stock
8.5% to $68.96 a
share in early
trading.
One reason that
previous
analysts may
have missed
their mark in
forecasting is
reportedly due
to the fact that
they failed to
include certain
types of actual income
that they should
have considered.
This would be
$10 million of
discontinued
operations
income.
In the second
quarter of this
year,
Harrah's
anticipates the
completion of
its $9.4 billion
purchase of
Caesars.
