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Casinos Offered Mixed News

NORTHERN NEVADA -- As reported by the Las Vegas Review-Journal: ``There was good news and bad news last week for Northern Nevada's struggling resort casinos.

``The positive side of the coin came from January hotel room occupancy statistics and visitor counts issued by the Reno-Sparks Convention & Visitors Authority, which were up compared with January 2003. It was just the third month of the last 12 to see an increase in both categories and the first since October.

``Room rates increased, too.

``…Occupancy at hotels and motels was up 3.3 percent when compared to January of last year. More impressive was that the occupancy rates (67 percent for hotels, 46.8 percent for motels) were the highest they've been for any January going back to at least 1998, according to the RSCVA.

``…A dark cloud hung over the positive news.

``…Another tough earnings report was issued Thursday, this one by Las Vegas-based Mandalay Resort Group for its fiscal fourth quarter and full 2003 fiscal year, which ended Jan. 31…"

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