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Casino profits from expansion

Tuesday, Feb. 29, 2000 | 11:44 a.m.

Hard Rock Hotel Inc., owner and operator of the Hard Rock hotel-casino in Las Vegas, reported fourth-quarter cash flow of $4.8 million, a 12.5 percent increase over the year-ago period.

Revenues for the quarter ending Nov. 30 rose 45.8 percent, to $26.3 million. The company attributed the gains to the expansion of the Hard Rock, completed during the second quarter of 1999, as well as higher table game and slot volume. Cash flow growth was slowed by a lower hold percentage for table games, the company said.

For the year ending Nov. 30, the Hard Rock recorded revenues of $88.4 million, up 16.8 percent, and cash flow of $18 million, up 0.6 percent. The property's revenues increased because of the expansion, but cash flow was slowed by lower hold percentages and disruptions related to the construction.

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