Fortune just loves HET

Apr 16, 2002 7:34 AM

Fortune magazine likes Harrah’s Entertainment Inc. (HET) and makes no bones about it. In a recent listing of the country’s 500 largest American companies, Harrah’s was ranked first among the top hotel, casino and resort companies in five major categories.

  These were: No. 1 in profits as a percent of revenues; No. 1 in profits as a percent of assets; No. 1 in profits as a percent of shareholder equity; No. 1 in annual earnings-per-share growth from 1991 through 2001, and No. 1 in total return to investors in 2001.

  Also, Fortune ranked Harrah’s second in 2001 profits and second in total return to investors from 1991 through 2001.

Needless to say, the rankings HET executives were delighted with the rankings. Said Phil Satre, chairman and CEO, “The rankings confirm that our commitment to build industry-leading marketing and operational capabilities has ­­fostered sustainable earnings growth over an extended period”¦Our broad geographic diversification, nationwide customer-loyalty program and determination to provide our guests with superior customer service and high-quality amenities have been instrumental in our growth.”

Satre said he confident the company could “continue to be one of the leading performers in the casino-entertainment ­­industry.”