Las Vegas Sun

March 29, 2024

Boomtown Inc. earnings

COMMENTS: For the six months that ended March 31, Reno-based Boomtown reported a net loss of $309,000 (3 cents per share) from revenues of $112.5 million compared with net income of $637,000 (7 cents per share) from revenues of $109.8 million. Higher revenues in Reno and Biloxi, Miss., offset lower revenues in Las Vegas and Harvey, La. Boomtown Las Vegas recorded revenues of $12.1 million and $23.5 million for the quarter and six-month period, respectively. That compares to revenues of $12.1 million and $23.8 million in the prior-year periods. Boomtown Las Vegas reported an earnings loss of $1 million for the second quarter as compared to a loss of $371,000 in the prior year quarter. The decline in operating results at Boomtown Las Vegas primarily resulted from higher administrative expenses as well as incurring additional marketing costs in an effort to improve revenues. Operating results at Boomtown Las Vegas are negatively impacted by annual rent charges of about $5.4 million. (Nasdaq: BMTN)

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