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November 27, 2009

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Brief: LV firm’s profit falls as it diversifies

Monday, Dec. 21, 1998 | 11:56 a.m.

The company earned $875,000, or 5 cents per share, compared to $1.2 million, or 7 cents per share in the 1997 quarter. Revenues were unchanged at $2.13 million.

American Vantage attributed the lower profits to costs incurred trying to diversify its operations.

"We continue to show respectable profit percentages even though we incurred costs and expenses associated with diversification and future growth plans," said Ronald Tassinari, president and chief executive. "Consistent with those plans, we look forward to our new relationship with World Championship Wrestling Inc. and the development of the first WCW Nitro Grill restaurant in the Excalibur Hotel and Casino."

American Vantage gets all its revenues from a gaming consulting contract with the Table Mountain Tribe, which operates a casino near Fresno, Calif. In addition to the recently announced wrestling contract, the company plans a funeral home and cemetery in North Las Vegas.

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