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Anchor Gaming Suffers Revenue Drop for Q3 2001

26 April 2001

LAS VEGAS – April 26, 2001 –As reported by the Las Vegas Review-Journal: "Slot manufacturer Anchor Gaming, which operates a San Diego tribal casino, reported third-quarter revenue of $122.9 million, which was down 11 percent when adjusted for the December sale of a New Mexico racetrack, figures released Wednesday show.

"The Las Vegas-based company reported a loss of $94 million, or $6.41 per share, for the quarter ended March 31, down from third-quarter 2000 profits of $16 million.

"Cash flow for the quarter was up 5 percent to $49 million.

"…Anchor executives sold the racetrack to former company Chairman Stan Fulton as part of a deal that saw the company acquire 4.6 million shares of its stock from Fulton and his family at a cost of $66.60 a share.

"Anchor operates the Pala Casino in San Diego, which opened April 3 and has a lucrative joint venture with International Game Technology in which they operate the Wheel of Fortune and I Dream of Jeannie slot machines…"

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