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Argosy Sees Earnings Below Analyst Estimates

9 October 2002

ALTON, Illinois – As reported by Reuters: "Argosy Gaming Co. (NYSE:AGY), which operates riverboat and hotel casinos, said on Tuesday it expects its earnings for the next three quarters to miss analysts' estimates, due in part to higher taxes.

"Company said it sees third-quarter EPS of 63 cents to 65 cents per share. Analysts' estimates range from 68 cents to 79 cents, with a mean of 73 cents, according to research firm Thomson First Call.

"…Argosy said it sees EPS in the mid-60 cent range for the quarters ending Dec. 31, 2002, and March 31, 2003. Analysts consensus estimate for the December quarter is 70 cents per share and 71 cents per share for the March quarter.

"…Shares of Argosy fell $1.54, or 7.2 percent, to $19.81 on the New York Stock Exchange on Tuesday."

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