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Archon Corporation Results Down

For the three months ended March 31, 2003, the Company reported net revenues of $13.1 million a $900,000 decrease from revenues in the second quarter of fiscal 2002. For the six months ended March 31, 2003, the Company reported net revenues of $24.4 million a $2.0 million decrease from revenues in the fiscal 2002 period. The decrease is the result of a decline in revenues at the Pioneer Hotel and Gambling Hall. Operating income for the three and six-months periods of fiscal 2003 were $2.0 million and $3.2 million compared to $2.7 million and $4.3 million for the same periods of fiscal 2002.

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