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THE SANDS REGENT ANNOUNCES 1992 THIRD QUARTER EARNINGS

 THE SANDS REGENT ANNOUNCES 1992 THIRD QUARTER EARNINGS


RENO, Nev., May 4 /PR Newswire/ -- The Sands Regent (NASDAQ: SNDS) announced today that net income for the quarter ended March 31, 1992 has increased by over 100 percent to $579,000 compared to $271,000 in the like prior year quarter. For the same periods, revenues have increased by $1.2 million to $9.4 million and net income per share has increased from $.08 to $.27. Such increase in net income per share is due to improved profits and the anti-dilutive effect of the Company's purchase of 1.2 million shares of its Common Stock in October 1991.
 In the nine months ended March 31, 1992, income from operations was at a record level of $5.1 million compared to $3.5 million in the same nine months of the prior year. Net income increased from $2.9 million to $3.3 million and net income per share increased from $.86 to $1.24. For the same periods, revenues increased from $28.0 million to $30.1 million.
 Pete Cladianos, Jr., President of The Sand Regent, said, "We are extremely satisfied about our operating results for the nine months ended March 31, 1992. The adverse effects of the economic recession appear to have been very favorably offset by our aggressive marketing and cost control efforts and by a more stable global political environment. In addition, shareholder value has also been enhanced by the reverse dilution of our October 1991 tender offer purchase of 1.2 million shares of stock coupled with improved efficiency from the addition of $16 million of debt."
 FINANCIAL HIGHLIGHTS
 (In thousands except per share data)
 Three Months Nine Months
 ended March 31 ended March 31
 1992 1991 1992 1991
Revenues $9,422 $8,201 $30,142 $28,049


Income from
 Operations 1,116 233 5,138 3,480
Net Income 579 271 3,283 2,887


Net Income
 Per Share .27 .08 1.24 .86


Weighted Number of Shares
Outstanding 2,152,267 3,328,861 2,647,443 3,328,861
 -0- 5/4/92
 /CONTACT: David R. Wood, The Sands Regent, 702-348-2298/
 (SNDS) CO: The Sands Regent ST: Nevada IN: CNO SU: ERN


CH-MC -- LA002 -- 5861 05/04/92 09:07 EDT
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Date:May 4, 1992
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