Performance improves in third quarter

Thursday, Oct. 21, 2004 | 10:57 a.m.

Third-quarter profit at the Hard Rock Hotel and Casino in Las Vegas rose 79 percent from the year-ago quarter to $3.4 million as room rates rose and customers frequented a new nightclub. Decreasing depreciation and interest expenses also helped earnings, Hard Rock parent Hard Rock Hotel Inc. reported Wednesday.

Revenue rose 6 percent to $39.6 million and cash flow rose 7 percent to $10.5 million.

Casino revenue fell 7 percent to $14.2 million primarily because of a decline in table game volume. Table game revenue fell 7 percent to $9.9 million and slot machine revenue dropped 5 percent to $4.1 million.

Hotel revenue jumped 16 percent to $9.3 million as average daily rates in the third quarter rose by $21 to $154. Food and beverage revenue rose 20 percent to $14.8 million, primarily attributed to the opening of the new Body English nightclub.

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