Harrah's Leads Rally in Casino Shares

7 Apr 2005

NEW YORK -- As reported by Reuters: "U.S. casino company stocks rose on Thursday, a day after Harrah's Entertainment Inc. (NYSE:HET) said its first quarter earnings would beat Wall Street estimates driven by strong business in Las Vegas as well as at casinos in the South and Midwest.

"Shares of Harrah's, which is acquiring Caesars Entertainment Inc. (NYSE:CZR) to become the world's largest casino operator, led the rally, rising 8.9 percent in midday trading.

"Late on Wednesday, the company forecast first-quarter earnings of 95 cents to 99 cents a share, excluding one-time items. Analysts on average had expected 76 cents a share, according to Reuters Estimates.

"…Harrah's shares, which have risen 38 percent in the past six months, were up $5.64, or 8.9 percent, at $69.20 on the New York Stock Exchange. Caesars rose $1.27, or 6.5 percent, to $20.72. MGM Mirage (NYSE:MGG) rose $2.25, or 3.2 percent, to $72.54, while Boyd Gaming (NYSE:BYD) rose 99 cents, or 1.8 percent, to $55.60…"

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	Harrah's Leads Rally in Casino Shares 7 Apr 2005 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> NEW YORK -- As reported by Reuters: "U.S. casino company stocks rose on Thursday, a day after Harrah's Entertainment Inc. (NYSE:HET) said its first quarter earnings would beat Wall Street estimates driven by strong business in Las Vegas as well as at casinos in the South and Midwest. "Shares of Harrah's, which is acquiring Caesars Entertainment Inc. (NYSE:CZR) to become the world's largest casino operator, led the rally, rising 8.9 percent in midday trading. "Late on Wednesday, the company forecast first-quarter earnings of 95 cents to 99 cents a share, excluding one-time items. Analysts on average had expected 76 cents a share, according to Reuters Estimates. "…Harrah's shares, which have risen 38 percent in the past six months, were up $5.64, or 8.9 percent, at $69.20 on the New York Stock Exchange. Caesars rose $1.27, or 6.5 percent, to $20.72. MGM Mirage (NYSE:MGG) rose $2.25, or 3.2 percent, to $72.54, while Boyd Gaming (NYSE:BYD) rose 99 cents, or 1.8 percent, to $55.60…"