It's got to do with my love of cash flow. Casinos are a place where you can literally see cash flowing, accentuated by lights and bells and whistles. It doesn't even matter to me that it's cash flowing out of my pocket and into that little box by the dealer. I just love watching it happen. Lots of cash moves through casinos, but they don't always hold onto it.
Capital expenditures run high in the industry, as theme hotels strain belief to become glitzier.
The company gave its most recent look into its operations this morning when it announced first-quarter earnings. Both numbers are excellent. The company says that National Air has become profitable in the last month, but that Harrah's is looking to reduce its stake. Harrah's New Orleans remains enigmatic, and management has no plans for immediate changes. Harrah's acquired Rio in January 1999, but hasn't yet managed to bring its performance up to company standards.