LAS VEGAS, April 22 /PRNewswire/ -- Hard Rock Hotel, Inc. ("Hard Rock"), which owns and operates the Hard Rock Hotel & Casino in Las Vegas, Nevada, today reported 1st quarter net revenues of $33.9 million compared with $31.3 million in the year-earlier three-month period. Income from operations in the 1st quarter grew to $5.8 million from $5.0 million in the prior year 1st quarter. Earnings before interest, taxes, depreciation and amortization ("EBITDA") (1), increased to $8.7 million compared with $7.9 million in the year-earlier 1st quarter. Net income for the 1st quarter was $2.6 million compared to $1.5 million in the year-earlier period.

Quarterly revenues increased due to a $1.3 million improvement in food and beverage revenues, a $0.9 million increase in casino revenues and a $0.7 million increase in lodging revenues. These increases were offset partially by a $0.2 million decrease in retail revenues.

Quarterly EBITDA (1) also increased due to decreased marketing and entertainment expenses. The decrease in marketing and entertainment expenditures was primarily related to the annual Howard Stern Live Broadcast which aired in February during 2002 being shifted to April in 2003.

Peter Morton, Hard Rock's Chairman of the Board and Chief Executive Officer, commenting on the quarterly results stated, "I am pleased with our operating results with our table games drop up 4%, slot handle up 11% and average daily room rate up 13% in what has been a difficult market."


There will be a conference call open to investors:
* Date: Wednesday, April 23, 2003
* Time: 2:00 P.M. Eastern Daylight Time
11:00 A.M. Pacific Daylight Time
Dial: 888-273-9885 Domestic only

CONTACT: Jim Bowen of Hard Rock Hotel, Inc., 702-693-5031


The press release contains certain forward-looking statements, which Hard Rock is making in reliance on the safe harbor provisions of the Private Securities Litigation Act of 1995. Investors are cautioned that all forward- looking statements are subject to significant risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Hard Rock, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Additional information concerning risk factors that could cause actual results or events to differ materially from those projected in the forward-looking statements are contained in the Hard Rock's filings with the Securities and Exchange Commission.

Source: Hard Rock Hotel, Inc.