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SAHARA RESORTS RELEASES PROFITABLE SECOND QUARTER AND SIX MONTHS RESULTS

 LAS VEGAS, April 29 /PRNewswire/ -- Sahara Resorts (NASDAQ: SHRE) today reported net income of $551,000 and $180,000 for the three- and six-month periods ended March 31, 1993, or $.16 and $.05 per share. Revenues for the quarter and year-to-date were $62,891,000 and $122,074,000, respectively. Prior-year revenues for the same periods were $56,135,000 and $108,127,000, with net losses of $200,000 or $.06 per share and $2,410,000 or $.71 per share being reported.
 Paul W. Lowden, chairman and president of the Sahara Resorts, stated that "Our company is continuing to benefit from the expansions of the Sahara and Hacienda and the addition of the Santa Fe in 1991. When comparing current fiscal periods with those of last year, we are consistently posting double-digit percentage increases in revenue. Our gross operating margin remains a very respectable 26 percent."
 Additionally, Sahara Resorts has formed a new division assigned the task of identifying and developing new gaming ventures. The formation of the Sahara Development Group is in response to the recent proliferation of new gaming venues throughout the United States.
 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 and Gambling Hall in Laughlin, Nev.
 SAHARA RESORTS
 Financial Highlights
 (Unaudited)
 For the Three Months Ended
 March 31, 1993 March 31, 1992
 Revenues $62,891,327 $56,135,436
 Operating income before
 depreciation and
 amortization 16,909,164 15,810,235
 Depreciation and
 amortization 5,682,216 5,563,385
 Operating income 11,226,948 10,246,850
 Income (loss) before
 federal income tax 1,048,718 (293,147)
 Net income (loss) 550,718 (200,147)
 Net income (loss) per share $0.16 ($0.06)
 Outstanding shares 3,417,600 3,417,600
 For the Six Months Ended
 March 31, 1993 March 31, 1992
 Revenues $122,074,336 $108,126,641
 Operating income before
 depreciation and
 amortization 32,341,906 28,810,460
 Depreciation and
 amortization 11,311,126 11,309,630
 Operating income 21,030,780 17,500,830
 Income (loss) before
 federal income tax 503,501 (3,543,444)
 Net income (loss) 179,501 (2,410,444)
 Net income (loss) per share $0.05 ($0.71)
 Outstanding shares 3,417,600 3,417,600
 -0- 4/29/93
 /CONTACT: Ronald J. Radcliffe of Sahara Resorts, 702-737-2724/
 (SHRE)


CO: Sahara Resorts ST: Nevada IN: CNO SU: ERN

MS-LS -- LA008 -- 2489 04/29/93 09:31 EDT
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Publication:PR Newswire
Date:Apr 29, 1993
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