Harrah's Entertainment has reported lower income from operations during the first quarter of the year.
Income from operations stood at $285.4m, down from $401m recorded during the corresponding quarter in 2008. The loss from continuing operations net of tax for the first quarter was $127.4m, compared with a loss of $275m a year ago.
“Our first-quarter results continued to be impacted by the economic slump that has reduced consumer spending, but the improvement in our operating margins over those of the past few quarters indicates our expense-reduction efforts are paying off,” said Gary Loveman, Harrah’s chairman, president and chief executive officer.
