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Reno's Gambler Sold to Las Vegas Firm14 December 2000RENO, Nevada -- Dec. 14, 2000 --As reported by the Reno Gazette-Journal: 'The Gambler, an all-slots casino in downtown Reno, has been sold for an undisclosed price to a Las Vegas casino finance and service company. "The sale by casino operator Carl Giudici to PDS Financial Corp., doing business as PDS Gaming, is pending approval from state gaming regulators with a decision expected in early 2001. "...The acquisition of the Gambler is PDS’s first foray into casino operations and is part of long-term diversification, company officials said Wednesday. "...The casino has 28 employees and about 175 slot machines and generates annual revenues of about $2 million, according to PDS. "...Finley said the acquisition of the Gambler will bolster the company’s cash flow and earnings per share in 2001. "PDS, which employs 60 people excluding the Gambler, reported $35 million in revenues in 1999. "For the quarter ending Sept. 30, PDS reported a net income of $177,000, or 5 cents per diluted share, compared to a net loss of $414,000, or 11 cents, a year earlier..." |