|
|
 |
| |
|
Home > Fortune 500 Companies > Harrah's Entertainment
Harrah's Entertainment
Harrah's Entertainment is a publicly traded company having a good stock performance result. Harrah's Entertainment is a fortune 500 stock listed company trading under HET.
Harrah's Entertainment likes to spread its bets. The world's largest gaming company, Harrah's owns, operates, and manages about 40 casinos under names as Bally's, Caesars, Harrah's, Harveys, Horseshoe, Showboat, and Rio in 3 countries.
It was founded in 1937; Las Vegas-based Harrahs Entertainment, Inc. is the world’s premier provider of branded casino entertainment.
Its operations include casino hotels, dockside and riverboat casinos, and Indian gaming establishments. Harrah's acquired rival Caesars Entertainment for9.4 billion dollars in cash, stock, and debt. The deal cemented Harrah's Entertainment as the world's 1 gaming company, jumping over the merged MGM MIRAGE/Mandalay combination. To appease regulators, Harrah's sold its Harrah's Tunica and Harrah's East Chicago casinos to Colony Capital.
Harrahs Entertainment owns through various subsidiaries more than 40 casinos in three countries, primarily under the Harrah's, Caesars and Horseshoe brand names. They provide great customer service in exciting and entertaining environments, with the goal of becoming your overwhelming first choice for casino entertainment.
The year’s operating results offered solid proof of their ability to manage these many undertakings for investors’ benefit. For fiscal 2005, revenues climbed to 7.1 billion dollars, a 56.3 percent increase over the previous year’s total, while adjusted income from continuing operations grew 50.6 percent, to 516.6 million dollars, from 343.1 million dollars a year earlier. It should be noted that their results for 2005 included contributions from the Caesars business only after the June 13, 2005, acquisition date.
The strong stockholder returns Harrah’s has delivered since 1998 are largely attributable to their customer loyalty strategy, whose success is apparent in their performance on two key measures, same-store sales growth and cross-market play, which rose 8.8 percent and 18.0 percent in 2005, respectively. Employees were immediately informed that their pay and benefits would continue for 90 days, and that Harrah’s would offer priority processing status and relocation assistance to those who wished to transfer to other company properties. More than 700 of their nearly 9,000 displaced employees took advantage of the opportunity to remain within the Harrah’s system.
Back to Fortune 500 Companies
|
|
|
|
|
|
|