 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! |
Gaming News
Coast Resorts, Inc. Announces Q2 Results14 August 2000LAS VEGAS, Nevada –(Press Release)--Aug. 14, 2000-- Coast Resorts, Inc., today announced unaudited results for the Company's second quarter ended June 30, 2000. The Company posted record results for revenues and EBITDA (earnings before interest, taxes, depreciation, amortization and deferred rent), as a result of increases at all three of its Las Vegas hotel-casinos. For the quarter, revenues increased 6.7% to $94.5 million in 2000 compared to $88.6 million in 1999. EBITDA increased 15.5% to $22.0 million in 2000 compared to $19.1 million in the prior year. For the first six months of 2000, revenues increased 8.7% to $194.1 million compared to $178.6 million in 1999. EBITDA increased 20.7% to $49.3 million compared to $40.9 million in 1999. Coast Resorts, Inc. is a Nevada-based gaming company that, through its wholly owned subsidiary, Coast Hotels and Casinos, Inc., operates three Las Vegas hotel-casinos, the Barbary Coast, the Gold Coast and The Orleans, and is currently constructing a fourth, the Suncoast. The Suncoast, located in the west end of the Las Vegas valley, has a construction budget of $185 million and is scheduled to open in September 2000. |