Las Vegas Sun

March 28, 2024

Coast Resorts Inc. earnings

COMMENTS: Coast Hotels and Casinos Inc., a subsidiary of Coast Resorts Inc., posted increases in net revenues and cash flow at both of its current operations, the Gold Coast Hotel and Casino and the Barbary Coast Hotel and Casino. "During the past three quarters we have been able to grow our revenues despite having fewer gaming positions available," said Harlan Braaten, president and chief operating officer. "These higher revenues, coupled with a concerted effort to control operating expenses, have allowed us to increase cash flow 42 percent, 95 percent and 92 percent the past three quarters when compared to the same periods inthe prior year." Gold Coast net revenues increased 11.9 percent to $35.7 million in the first quarter of 1996 compared to $31.9 million in 1995. Gaming revenues were $26.7 million for the quarter, an increase of $4 million (17.6 percent) over 1995 revenues of $22.7 million due primarily to higher slot revenues. The company did not report earnings per share.

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