Crown Casino announces second quarter results.DALLAS--(BUSINESS WIRE)--Dec. 16, 1994--Crown 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. Corp. (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) Friday announced its financial results for the three and six months ended Oct. 31, 1994. 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): -0-
Three Months Six Months
Ended Oct. 31, Ended Oct. 31,
1994 1993 1994 1993
Results of Operations:
Revenues $ -- $ -- $ -- $ --
Net loss $ (3,022) $ (313) $ (4,546) $ (451)
Loss per share $ (.31) $ (.06) $ (.48) $ (.09)
Balance Sheet Data:
Oct. 31,
1994 1993
Total assets $ 57,003 $ 14,733
Stockholders' equity $ 25,040 $ 10,672
Shares outstanding 9,633 5,525
Edward R. McMurphy, president of Crown Casino, stated: "Second quarter of fiscal 1995 results of operations reflect significant increases in gaming pre-opening and development costs, general and administrative and interest expenses in connection with the development of our St. Charles Parish 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. project." Earlier this week the Louisiana Supreme Court The laws of Louisiana and the Supreme Court of Louisiana both have a rich history based in the colonial governments of France and Spain during the early eighteenth century. The current Supreme Court traces its roots back to these beginnings. heard oral arguments relative to the use of the company's proposed site in St. Rose, La. (in St. Charles Parish) and a decision is expected shortly. During the pendency Pend´en`cy n. 1. The quality or state of being pendent or suspended. 2. The quality or state of being undecided, or in continuance; suspense; as, the pendency of a suit s>. of the Court's decision the company has taken steps to reduce its personnel, advertising and certain other costs. Also this week, the company executed an amendment to its loan agreement eliminating certain technical events of default, which arose as a result of delays associated with developing the St. Rose site, and putting the company back in compliance with the loan documents. CONTACT: Crown Casino Corp., Dallas Edward R. McMurphy, 214/352-7561 |
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