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SAHARA RESORTS ANNOUNCES FISCAL YEAR-END RESULTS

 SAHARA RESORTS ANNOUNCES FISCAL YEAR-END RESULTS
 LAS VEGAS, Dec. 26 /PRNewswire/ -- Sahara Resorts (NASDAQ: SHRE)


today reported a net loss on increased revenue for the year ended Sept. 30, 1991. The company's net loss for the year was ($9,068,520), or ($2.65) per share, as compared to a net loss of ($1,388,600) or ($0.41) per share for fiscal 1990. Revenues for fiscal 1991 increased to $182,914,822 as compared to $164,258,953 for the previous year. The increase is attributable primarily to the addition of the operations of the Santa Fe Hotel and Casino which opened Feb. 14, 1991. The company reported operating income before depreciation and amortization of $38,582,335 for the year ended Sept. 30, 1991, as compared to $42,333,354 for the previous year.
 Management believes that operating results were adversely affected by the construction at the Sahara and Hacienda, the Persian Gulf war earlier in the year, increased capacity in the Las Vegas market, and the national economic recession.
 Paul W. Lowden, chairman of the board, stated, "We do not believe that the results of the fiscal year are representative of what this company can obtain in the future having now completed its expansion. While the overall economic environment looks sluggish for the near term, we at Sahara Resorts are well positioned with our expanded capacity and diversification to benefit from any economic improvement in the industry."
 Sahara Resorts owns the general partners of Sahara Casino Partners, L.P., the gaming master limited partnership which owns and operates the Sahara, Hacienda, and Santa Fe Hotel/Casinos in Las Vegas and the Pioneer Hotel & Gambling Hall in Laughlin, Nev.
 SAHARA RESORTS FINANCIAL HIGHLIGHTS
 (unaudited)
 Year Ended
 Sept. 30, 1991 Sept. 30, 1990
 Revenues $182,914,822 $164,258,953
 Operating
 income
 before
 depreciation
 and amor-
 tization $38,582,335 $42,333,354
 Depreciation
 and amor-
 tization $17,490,692 $15,917,948
 Operating
 income $21,091,643 $26,415,406
 Net income
 (loss) ($9,068,520) ($1,388,600)
 Net income
 (loss) per
 share ($2.65) ($0.41)
 Outstanding
 shares 3,417,600 3,405,850
 -0- 12/26/91
 /CONTACT: Ronald J. Radcliffe of Sahara Resorts, 702-737-2724/
 (SHRE) CO: Sahara Resorts ST: Nevada IN: CNO LEI SU: ERN


DM-EH -- LA004 -- 5391 12/26/91 18:17 EST
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Publication:PR Newswire
Date:Dec 26, 1991
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