CROWN CASINO ANNOUNCES THIRD QUARTER RESULTS.DALLAS--(BUSINESS WIRE)--March 20, 1995--Crown Casino Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DICE), today announced its financial results for the three and nine months ended January 31, 1995. Fiscal 1994 cable related revenues have been reclassified to discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. , and accordingly, the Company did not report any revenues from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the during the current or prior period. The Company reported the following financial information (in thousands, except per share data):
Three Months Nine Months
Ended January 31, Ended January 31,
1995 1994 1995 1994
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Results of
Operations:
Revenues $ -- $ -- $ -- $ --
Net loss $(5,514) $ (646) $(10,061) $ (1,097)
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Loss per share $ (.54) $ (.10) $ (1.03) $ (.21)
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Edward R. McMurphy, President of Crown Casino, stated, "In January 1995 the Company made the decision to move its Louisiana riverboat casino A Riverboat casino is a type of casino unique to several areas of the United States which use a riverboat as a casino. Several states authorized this type of casino to limit the areas where casinos could be constructed. site to Calcasieu Parish (near Lake Charles Lake Charles, city (1990 pop. 70,580), seat of Calcasieu parish, SW La.; inc. 1867. It is located on Lake Charles at the mouth of the Calcasieu River in a rice, timber, oil, and natural gas region. and the Texas border) from its former site in St. Charles Parish (near New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded ). As a result of this decision, in the third quarter of fiscal 1995 the Company recorded a pretax charge of approximately $3.1 million related to the write-off of previously capitalized costs specific to the former site in St. Charles Parish. Historically, revenues of Louisiana CODE, OF LOUISIANA. In 1822, Peter Derbigny, Edward Livingston, and Moreau Lislet, were selected by the legislature to revise and amend the civil code, and to add to it such laws still in force as were not included therein. riverboat casinos operating near the Texas border have on average far exceeded the average revenues of riverboat casinos operating elsewhere in the state." CONTACT: Crown Casino Corporation, Dallas Edward R. McMurphy, 214/352-7561 |
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