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Hard Rock Casino Profit Flat

The Las Vegas Sun

LAS VEGAS -- The owner of the Hard Rock Hotel & Casino in Las Vegas said third-quarter profit was flat at $1.9 million compared to the same quarter the previous year. Hard Rock Hotel Inc. also reported a 10 percent increase in revenue to $37.2 million. Cash flow jumped 24 percent to $9.8 million.

The company's cash flow was the second-highest of any quarter in company history, Hard Rock Chief Executive Peter Morton said.

"The company has never been in a better position both financially and operationally," he said.

Casino revenue stayed flat at around $15.2 million. Lodging revenue rose 17.3 percent to $8 million. Food and beverage revenue rose 21.5 percent to $12.4 million.

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