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SAHARA RESORTS ANNOUNCES THIRD QUARTER RESULTS

 SAHARA RESORTS ANNOUNCES THIRD QUARTER RESULTS
 LAS VEGAS, Aug. 12 /PRNewswire/ -- Sahara Resorts (NASDAQ: SHRE)


today reported revenues of $54,467,000 and $164,594,000 for the three- and nine-month periods ended June 30, 1992. This compares to $49,790,000 and $131,637,000 for the same periods in fiscal 1991. The quarterly net loss was reduced from $2,586,000 in 1991, or $0.76 per share, to $1,485,000, or $0.43 per share, for the current quarter. Year to date, the company reported a net loss of $3,895,000, or $1.14 per share, as compared to $5,551,000, or $1.62 per share, for the nine months ended June 30, 1991.
 Paul W. Lowden, chairman and president of Sahara Resorts, noted that, "This is the fourth consecutive quarter that operating income has increased when compared to the comparable quarter in the prior year. Operating income before depreciation and amortization, or EBITDA, was $42,777,000 for the first nine months of this year, an increase of $15,163,000, or 55 percent over last year's EBITDA for the period. For the quarter EBITDA was $13,967,000 as compared to $10,431,000 for the same three months in 1991.
 "We have been able to utilize our increased room capacity at the Sahara and Hacienda, with both properties reflecting room occupancy percentages of over 92 percent for the current quarter," Lowden continued, "and we had 50,411 more occupied room nights during the quarter than last year.
 "The Santa Fe continues to meet our expectations, posting its second consecutive quarterly net income, and the Pioneer is maintaining its strong position in the Laughlin market.
 "In spite of the lingering recession, especially in the Southern California market, we have been able to generate increased revenues while keeping a lid on our operating expenses," Lowden added.
 -0- 8/12/92
 /CONTACT: Ronald J. Radcliffe of Sahara Resorts, 702-737-2724/
 (SHRE) CO: Sahara Resorts ST: Nevada IN: CNO LEI SU: ERN


KJ-LS -- LA035 -- 6370 08/12/92 16:38 EDT
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Date:Aug 12, 1992
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