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Hotel-casinos detail expansions

Monday, Jan. 26, 1998 | 9:31 a.m.

The Rio and Hard Rock hotels today detailed previously announced expansion plans at their booming off-Strip Las Vegas properties.

Separately, Rio announced strong revenue and earnings growth for its fourth quarter ended Dec. 31. The Las Vegas company's quarterly profit of $9.5 million, or 41 cents per share; was up from $4.3 million or 20 cents in the same quarter a year ago. Revenue of $121.5 million was up 115 percent.

The Rio, with 2,500 suites and a 116,000-square-feet casino, announced in October plans to build a separate 3,000-room hotel-casino on an adjacent 43 acres.

The Rio today said it will include "the most advanced 110,000 square feet of meeting and special events space" in Las Vegas. Opening in Spring 1999, Rio said the convention and special events center will have the latest in technology, full theatrical staging and an adjoining business center.

And the Hard Rock said its $85 million expansion will begin immediately and should open in Spring 1999. The expansion includes 350 guest rooms, two-story private bungalows with a private pool area, 50 luxury suites, 2 acres of new swimming pool area, a health spa and salon, four restaurants and a nightclub.

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