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CASINO RESOURCE CORPORATION ANNOUNCES RESULTS

 MINNEAPOLIS, Dec. 30 /PRNewswire/ -- Casino Resource Corporation (NASDAQ-NMS: CSNR) today announced results for the year ended Sept. 30, 1993.
 CASINO RESOURCE CORPORATION
 SUMMARY OF EARNINGS
 Three Months Ended 12 Months Ended
 9/30/93 9/30/92 9/30/93 9/30/92
 Marketing
 services revenues $2,235,364 $1,886,898 $6,787,347 $7,902,060
 Operating profit
 before provision
 for income taxes (27,696) 247,948 4,628 556,999
 Net income (loss)
 from continuing
 operations (18,896) 359,648 1,628 531,999
 Net income (loss)
 from discontinued
 operations -- (13,182) -- 667,364
 Net income (loss) $(18,896) $346,466 $1,628 $1,199,363
 Earnings (loss) per
 common share:
 Income from
 continuing operations $(.01) $.19 -- $.30
 Income from discontinued
 operations -- -- -- .39
 Net income (loss) $(.01) $.19 -- $.69
 Weighted average shares
 common stock 4,241,292 1,855,905 2,926,502 1,746,146
 Jack Pilger, chairman and CEO, stated 1993 was a milestone year of the company. "Although financial results were flat, Casino Resource Corporation has been repositioned for growth in the emerging gaming industry. Significant financial and human resources were invested in obtaining favorable agreements to develop hospitality and entertainment facilities adjacent to Grand Casino properties in Hinckley, Minn., and Biloxi, Miss., completing a private placement of $2.75 million, and a secondary capital stock and warrant offering of nearly $15 million.
 "The diversion of management efforts and the investment in management infrastructure to support the new ventures contributed to the flat results. During the first quarter of fiscal 1994, traditionally our slowest quarter, we have made changes in our direct marketing operations to improve profitability in that segment of our business. However, the investments in our new business ventures and start-up costs associated with them are expected to adversely impact results until our new ventures come on stream in the third fiscal quarter of 1994."
 Pilger further stated, "We are extremely pleased with the progress on the Grand Hinckley Inn and Biloxi Star Theater. As construction proceeds on both facilities our expectations grow. We remain committed to this diversification in our business and confident in the new business ventures contribution to the financial success of Casino Resource Corporation."
 Casino Resource Corporation develops and manages entertainment and hospitality facilities adjacent to operating casinos, and additionally, provides a wide range of direct marketing services to casino operators and other bs?iness throughout the United States. The company is traded on the NASDAQ National Market System under the symbol CSNR and CSNRW.
 -0- 12/30/93
 /CONTACT: David Fondrie, president; or Kris Cummings, of Casino Resource Corporation, 414-723-6660/
 (CSNR)


CO: Casino Resource Corporation ST: Wisconsin IN: CNO LEI SU: ERN

DS-CP -- MN006 -- 8100 12/30/93 14:47 EST
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Publication:PR Newswire
Date:Dec 30, 1993
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