American Gaming reports third quarter results.ATLANTIC CITY Atlantic City, city (1990 pop. 37,986), Atlantic co., SE N.J., an Atlantic resort and convention center; settled c.1790, inc. 1854. Situated on Absecon Island, a barrier island 10 mi (16. , N.J.--(BUSINESS WIRE)--Nov. 15, 1995--American Gaming & Entertainment Ltd. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : "AGEL", the "company") reported today, as previously disclosed in its Form 10-QSB filed with the Securities and Exchange Commission, that net losses for common stockholders for the three months ended Sept. 30, 1995, were approximately $3,903,000 or ($.32) per share as compared to net losses for common stockholders of approximately $4,846,000 or ($1.35) per share for the comparable period in 1994. Net losses for common stockholders were approximately $18,371,000 or ($1.49) per share for the nine months ended Sept. 30, 1995, as compared to net losses for common stockholders of approximately $8,488,000 or ($2.39) per share for the comparable period in 1994. The company had reduced costs and expenses for the third quarter of 1995 as compared to the same period in 1994, but also had reduced revenues, resulting in the $3,903,000 loss for common stockholders for the quarter ended Sept. 30, 1995, which loss included $325,000, expensed for the accretion The act of adding portions of soil to the soil already in possession of the owner by gradual deposition through the operation of natural causes. The growth of the value of a particular item given to a person as a specific bequest under the provisions of a will between the on preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. dividends. The company's 1995 third quarter decrease in net loss for common stockholders compared to the same period in 1994 was primarily attributable to (i) a $899,000 decrease in total net bingo bingo Game of chance played with cards having a grid of numbered squares corresponding to numbered balls drawn at random. When a number on the card is drawn, the players cover that number (should they have it); the game is won by covering a certain number of squares in a row revenues, (ii) a decrease of $867,000 in direct operating and costs of sales, (iii) an increase of $247,000 in depreciation and amortization related to its Mississippi Mississippi, state, United States Mississippi (mĭs'əsĭp`ē), one of the Deep South states of the United States. It is bordered by Alabama (E), the Gulf of Mexico (S), Arkansas and Louisiana, with most of the border formed by subsidiary and a decrease of $480,000 related to a loss in such investment; (iv) an increase in net interest expense of $134,000, (v) a decrease in casino casino or cassino (both: kəsē`nō). 1 Card game played with a full deck by two to four players. Its origins are obscure though it probably traces back to the Italian game of Scopa. project development costs of $465,000 and (vi) an increase of $433,000 related to gains on sales of equipment and investments. The company's common stock is traded over the OTC Bulletin Board under the symbol "AGEL". CONTACT: American Gaming & Entertainment Ltd. Alfred J. Luciani, 609/272-7700 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion