Harrah's Entertainment is reporting a third-quarter loss of more than $1 billion, according to Associated Press.
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The Las Vegas company says it lost $1.05 billion in the quarter that ended Sept. 30 on revenue of $2.28 billion. In the same period a year earlier, it earned $349.6 million on revenue of $2.65 billion.
The company says it recorded a $1.33 billion drop in the value of its assets.
Harrah's is the largest casino company in the world by revenue, with more than 50 casinos around the world.
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