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THE SANDS REGENT ANNOUNCES RECORD ANNUAL EARNINGS FOR 1993

 RENO, Nev., Sept. 8 /PRNewswire/ -- The Sands Regent (NASDAQ: SNDS) announced today that it has achieved another year of record earnings. Income from operations for the year ended June 30, 1993, increased by 13 percent to $8.6 million, compared to $7.6 million in the prior year. Revenue for the year increased from $41.3 million to $43.9 million and net income increased from $4.9 million to $5.5 million. Net income per share also increased from $.97 to $1.27, a 31 percent increase. Such increases are a result of an increase in gaming revenue per occupied room, improved operational efficiency and the antidilutive effect of the company's tender offer in fiscal 1992 in which the company purchased back 1.2 million shares of common stock.
 In the three months ended June 30, 1993, income from operations was also at a record level of $2.7 million, compared to $2.5 million for the same three months of the prior year. Net income for the quarter increased by over 10 percent to $1.8 million, as compared to $1.6 million in the June 1992 quarter. Net income per share also increased from $.38 to $.41 and, for the same periods, revenues increased from $11.1 million to $11.8 million.
 Pete Cladianos Jr., president of The Sands Regent, said, "We are extremely pleased about the 1993 financial performance of our flagship property in Reno. This is the second year in a row in which we have achieved record performance levels. We continue to enjoy a solid reputation in our community and remain a leader in the marketing of our hotel/casino property.
 "Another goal in the growth of our company is about to be realized. Our new property, the Copa Casino in Gulfport, Miss., in which we are the operations partner, was recently granted a gaming license by the Mississippi Gaming Commission. We are now in the final stages of preparing the facility for an opening and expect to be opened to the public in the very near future.
 "The Copa's 30,000-square-foot facility will be the jewel of the Gulf Coast and we are very proud of it. The casino will include 700 slot machines, 45 table games, four cocktail lounges/bars and a deli-style restaurant. We look forward to its opening and future successes as well as the continued success of our Reno property."
 The Sands Regent owns and operates a 1,000-room hotel/casino located in Reno, and is a 40 percent partner and manager of the Copa Casino in Gulfport.
 THE SANDS REGENT
 Financial Highlights
 (In thousands except per share data)
 Three months ended Year ended
 June 30, June 30,
 1993 1992 1993 1992
 Revenues $11,837 $11,122 $43,877 $41,264
 Income from operations $2,718 $2,495 $8,608 $7,633
 Net income $1,761 $1,594 $5,481 $4,877
 Net income per share $.41 $.38 $1.27 $.97
 Weighted number of
 shares outstanding 4,335,260 4,321,722 4,327,093 5,052,924
 -0- 9/8/93
 /CONTACT: David R. Wood of The Sands Regent, 702-348-2298/
 (SNDS)


CO: The Sands Regent ST: Nevada IN: CNO LEI SU: ERN

JL-LM -- LA004 -- 9646 09/08/93 09:04 EDT
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Publication:PR Newswire
Date:Sep 8, 1993
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