Planet Hollywood reports increase in revenues
Planet Hollywood Resort bucked today’s trend of dour casino news by reporting a 7.6 percent increase in revenues over last year’s numbers.
The property, formerly the Aladdin, grew revenues to $277.2 million from $257.6 million in 2007.
The company did post a loss of $45 million. The number, however, was an improvement from the $75 million loss posted in 2007. This year’s loss was driven by a $57 million interest expense mostly tied to the property’s $885.6 million debt load.