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Alton Belle Casino's Numbers Down

19 January 2004

ALTON, Missouri – As reported by the (Missouri) Telegraph: "With fierce advertising battles raging between two of Missouri's larger gaming boats -- and repercussions from new, higher state taxes on revenues -- the Alton Belle Casino's adjusted gross receipts and admissions fell for the second year in a row in 2003.

"According to recently released figures from the Illinois Gaming Board, the Alton Belle Casino had adjusted gross receipts of $109,070,000 in 2003, down $9,716,000, or about 8.91 percent, from the $118,786,000 in AGR the previous year.

"The company, though, reported later that Alton Belle Casino revenues were $118,914,000 in 2002, net revenues were $114,162,000 and income from operations were $27,890,000.

"…There were 1,461,515 admissions at the casino in 2003, compared to 1,656,892 in 2002, a 13.4 percent drop.

"…On the positive side for the casino, its AGR or win per admission, continues to rise as follows: $75 (2003); $72 (2002); $70.95 (2001); and $65.87 (2000).

"Argosy Gaming Co. of Alton, which owns the Alton Belle Casino, has not released its annual report or earnings for 2003. Last year the company reported the Alton Belle had $118,914,000…"

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