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HARRAH'S NEW ORLEANS Casino owner JCC Holding Company spent most of 2001 trying to end its losing streak. The company came out of bankruptcy, drastically reorganized and streamlined its operating structure.
The bankruptcy helped the casino make it into the black last year for the first time. The casino reported net income of $91 million for 2001, but the positive earnings came only after a $213 million extraordinary gain from debt wiped out by the bankruptcy. Without the gain, the casino would have reported a $121.5 million loss for 2001 despite almost $239 million in revenue.
In 2000, the casino reported slightly higher revenues...