LV firm expects record fiscal year

Alliance Gaming Corp. of Las Vegas announced Tuesday it expects record results for the fiscal year ending June 30, 2001.

The news triggered a buying spree in Alliance's stock, which shot up more than 30 percent after the announcement.

At the company's annual shareholders meeting, Alliance officials estimated the company will record revenues of $500 million for the year, the first time Alliance has surpassed that mark. Cash flow is expected to reach $80 million, while diluted earnings per share will be at least $1.70, the company said.

In 1999, Alliance recorded revenues of $478 million, and a net loss of $1.47 per share.

By Dec. 31, Alliance said it expects to have shipped 1,400 slots to the California market, and has a backlog of 400 units.

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