Preliminary financial results disclosed by Harrah's Entertainment Inc. for the fourth quarter 2008 estimated that revenue totaled $2.232 billion to $2.324 billion and that cash flow was $468 million to $488 million, compared to revenue in the 2007 fourth quarter of $2.627 billion and cash flow of $622.8 million, according to a report from the Las Vegas Sun.

Harrah’s final fourth quarter numbers, to be reported later this month, will also show a noncash writeoff to reflect the decline in value of its goodwill and other intangible assets,  reflecting the value of the company's brands. In a regulatory filing, Harrah’s said the writedown will total $5.288 billion to $5.504 billion.

The loss from continuing operations for the quarter, after the goodwill writedown, was estimated at $4.596 billion to $4.784 billion. Harrah's also said it will post a one-time gain for the quarter of $927 million to $965 million for the early extinguishment of debt, according to the Sun story.