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THE SANDS REGENT ANNOUNCES 1992 FIRST QUARTER EARNINGS

    THE SANDS REGENT ANNOUNCES 1992 FIRST QUARTER EARNINGS
    RENO, Nev., Nov. 1 /PRNewswire/ -- The Sands Regent (NASDAQ: SNDS) announced today that it has achieved record earnings for the quarter ended Sept. 30, 1991.  Net income increased from $1.6 million in the first quarter of fiscal 1991 to $1.7 million in the first quarter of fiscal 1992 and net income per share increased from $.49 to $.51.  For the same periods, revenues increased from $10.7 million to $11.2 million.
    Pete Cladianos Jr., president of The Sands Regent, said, "We are extremely pleased with the first quarter operating results.  Besides a record profit first quarter, we were successful in improving our operating margin and efficiency.  Our operating margin increased from 21 percent in the first quarter of fiscal 1991 to almost 22 percent in the first quarter of fiscal 1992.
    "We are optimistic about the balance of 1992.  Last year was very disappointing due to the crisis in the Middle East and an economic recession.  This should result in improved profitability comparisons for 1992.  In addition, our recent successful tender offer, coupled with added debt, will result in further improved earnings efficiency."
                 THE SANDS REGENT FINANCIAL HIGHLIGHTS
                 (In thousands except per share data)
                                       Three months ended
                                            Sept. 30,
                                       1991          1990
    Revenues                         $11,187        $10,728
    Income from operations             2,443          2,257
    Net income                         1,724          1,617
    Net income per share                 .51            .49
    Weighted number of
     shares outstanding            3,348,861      3,328,861
    -0-                11/1/91
    /CONTACT:  David R. Wood of The Sands Regent, 702-348-2298/
    (SNDS) CO:  The Sands Regent ST:  Nevada IN:  CNO SU:  ERN JL -- LA007 -- 0080 11/01/91 09:01 EST
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Date:Nov 1, 1991
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