Gaming briefs for August 29, 2003

Friday, Aug. 29, 2003 | 11:29 a.m.

Company named employer of the year by labor group

Park Place Entertainment Corp. has been named employer of the year by the Nevada AFL-CIO. The labor federation announced the honor this week at its annual convention in Reno.

The federation cited Park Place Chief Executive Wallace Barr, who helped resolve the casino industry contract negotiations with the Culinary Union in May 2002.

Barr, who replaced CEO Tom Gallagher in November, was Chief Operating Officer of Park Place at the time.

The AFL-CIO has presented the Bill Bennett Employer of the Year Awards annually for 18 years. The award is named for the former owner of the Sahara, a Las Vegas casino pioneer who was known for his longtime support of the Culinary Union.

Lodging, gambling giant's profit falls

LONDON -- Britain's Hilton Group PLC, which operates Hilton hotels and the Ladbrokes gambling business outside the United States, said profit dropped sharply during the first half of the year due to the war in Iraq and the outbreak of severe acute respiratory syndrome.

Net profit for the six months ended June 30 fell 24 percent to 50.2 million pounds ($78.9 million) from 66.4 million pounds in last year's first half.

Profit before items and goodwill fell 15 percent to 110.5 million British pounds ($173.7 million), from 130 million pounds a year earlier.

The results were at the top of analysts' expectations.

Revenue per available room -- a key unit of measure in the lodging industry -- fell 4.9 percent in the first half.

Most of the British company's hotels are in Europe's gateway cities, and thus are the ones hardest hit by the downturn in long-distance and business travel.