Friday, May 16, 2003 | 11:31 a.m.
Merger expenses contributed to a first-quarter loss for Las Vegas-based casino supplier Paul-Son Gaming Corp., the company said today.
The manufacturer of table game equipment reported a loss of $601,000, or 8 cents a share, on revenue of $7.8 million for the quarter ended March 31 compared with net income of $106,000, or 3 cents a share, on revenue of $4.9 million for the same period a year ago.
The company merged operations with Etablissements Bourgogne et Grasset of France and its subsidiary, The Bud Jones Co. Inc., Las Vegas, last fall. The company reported $350,000 in fees for the quarter and also said the French operation had higher-than-normal revenue for its first quarter a year ago because of the conversion of European currency to the euro.
"We are well on our way to realizing the synergies and economies of scale, which we saw in the combination of three leading table game suppliers in B&G, Paul-Son and the Bud Jones Co.," said Gerard Charlier, president and chief executive officer.
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