Casinos post operating loss
Caesars Entertainment reported last week that its region that includes Harvey’s at Stateline and the Harrah’s properties at Reno, Lake Tahoe and Laughlin posted an operating loss of $1.8 million on revenues of $94.9 million in the fourth quarter.
This compares with an operating loss of $1.2 million and revenues of $94 million a year earlier.
The properties are seeing more visitors, the company said, but they are spending less.
“I point out many cases of where privately owned companies do just as bad a job as publicly owned companies,” says Reno resident and former teacher Robert (R.D.) Gardner.