Business: Nevada Slim

Writer Ambrose Bierce once observed that "the gambling known as business looks with austere disfavor upon the business known as gambling." Yet in today's skittish economic climate, most businessmen can only view with envy the profitable growth of the gaming empire headed by William Fisk Harrah, 63. It includes two glossy Nevada casinos—one in Reno, one in Lake Tahoe—along with two hotels containing 19 food-service areas and 18 cocktail bars. In the fiscal year ended in June, Harrah's Inc. of Reno, one of two gambling operations listed on the New York Stock Exchange, raked in a profit of $9.1 million...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!