North-region revenue, profits soft for Harrahs

Harrahs Entertainment Inc.

said profits at its northern Nevada properties Harrahs in Reno, Harvey's at South Lake Tahoe fell to $6.9 million in the fourth quarter of 2002 compared with $7.3 million in the fourth quarter of 2001.

Revenues at the properties were $98.9 million for the quarter, down 1.5 million from a year earlier.

For the year, revenues were up 19.2 percent (to $370.1 million) and profits were up 34.9 percent (to $50.5 million) at the properties.

Harrahs said bad weather was key cause of the downturn.