Golden En­ter­tain­ment posts $3M loss for quar­ter

Las Vegas Review-Journal - - BUSINESS -

Golden En­ter­tain­ment booked a $3 mil­lion quar­terly loss, cit­ing soft­erthan-ex­pected re­sults at the Strato­sphere and neigh­bor­hood gam­bling spots.

The Las Ve­gas-based com­pany — which op­er­ates casi­nos, the PT’S Pub chain and a net­work of slot and video poker ma­chines in bars, gro­cery stores and other lo­ca­tions — on Thurs­day re­ported a $3.1 mil­lion loss for the three months that ended Sept. 30.

That’s com­pared with a profit of about $8.5 mil­lion for the same pe­riod last year.

Rev­enue al­most dou­bled to

$210.3 mil­lion last quar­ter, and ex­penses nearly dou­bled to $200.6 mil­lion, but Golden also re­ported

$16.3 mil­lion in in­ter­est ex­penses that ate away at its bot­tom line.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.