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Atlantic City Harrah's Hit Hard After Terror

27 September 2001

ATLANTIC CITY, New Jersey – Sept. 27, 2001 –As reported by the Atlantic City PressPlus: "Among four Harrah's Entertainment Inc. casino regions, Atlantic City took the second-worst financial hit from the terrorist attacks, the nation's No. 3 gaming company reported Tuesday.

"Gambling revenue at Harrah's Atlantic City and Showboat Casino-Hotel declined a combined 23 percent during five days ending Sept. 15 compared to the same period last year, the company said.

"…Harrah's is the first casino company to disclose results affected by the Sept. 11 attacks in New York and Washington.

"…The hotel occupancy at Harrah's Atlantic City improved from 78 percent during the first five-day period to 92 percent during the second five-day period. Showboat's occupancy went from 90 percent to 99 percent.

"…Showboat projects that it will finish the month with 97 percent hotel occupancy - a half-point above last year - but experience a 10 percent to 12 percent revenue decline over the next four to six weeks.

"…In Las Vegas, Harrah's two casinos reported combined revenue declines of 39 percent and 7 percent for the five-day periods. Hotel occupancies, however, worsened over time, falling to 74 percent at Harrah's Las Vegas and 65 percent at Rio.

"In northern Nevada, Harrah's reported a revenue decline immediately after the attacks but said revenue actually improved 29 percent for the second five-day period…"

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