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 LAS VEGAS (AP) - Casino operator Harrah's Entertainment Inc., the world's largest gambling company, posted a fourth-quarter loss Wednesday, citing hurricane-related expenses and costs from writing off a Mississippi property it plans to sell.
But Wall Street had expected the company to report an even steeper loss from damage to its Gulf Coast properties, and analysts pointed to success of customer loyalty programs and plans for new casinos in Las Vegas, Spain, Slovenia and the Bahamas.
The deficit for the quarter ending Dec. 31 amounted to $142.2 million, or 78 cents per share, compared with income of $76.9 million, or 68 cents, the year before. Without the items and charges, adjusted earnings of 66 cents per share topped the average 56-cent estimate from analysts polled by Thomson Financial.
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