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Question of the Day - 31 March 2014

Q:
In "Today’s News" (March 27), you said Harrah’s Tunica was closing because "the casino is losing money." In the same sentence, you stated that it brought in $723 million last year. How do you figure $2 million/day revenue is a losing proposition?
A:

We ran your question by Caesars Entertainment spokesman Gary Thompson, who wrote us that the $723 million figure is "waaay too high. If the property had anywhere near that much revenue, we wouldn't be closing it." There seems to be some confusion at work between the revenue of Harrah’s Tunica and the Tunica market in general, and the blame rests with us. It appears a crucial part of the sentence in question, explaining how the drop at Harrah's was part of a general malaise in that market, illustrated by those figures we quoted, evidently got chopped in error and apparently you're the only person who caught it!

Back to the matter in hand, and the latter, in toto made $1.2 billion in 2006. Last year, all the Tunica casinos combined made $738 million. Harrah’s share of that is a trade secret but it was assuredly less than $2 million per day. Mystery solved, and our apologies for any prior confusion caused.

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