Odyssey maker posts $3.2 million loss

Monday, Aug. 16, 1999 | 11:41 a.m.

Silicon Gaming Inc. reported a second-quarter loss of $3.2 million, compared with a $5.4 million loss in the 1998 period. Revenue fell to $5.7 million from $8.3 million.

For 1999's first half, the company that makes the Odyssey slot platform posted a net loss of $12.2 million, the same as in the year-earlier period. Revenue slipped to $11.4 million from $12.3 million, Silicon said.

Silicon President Andrew Pascal said the company has completed the closure of its Mountain View, Calif., manufacturing plant and trimmed staff, resulting in a reduction in operating expenses.

Silicon's entry into the Atlantic City slot market, its joint venture with Anchor Gaming and introduction of new games, along with its contemplated restructuring, "will allow the company to continue to improve its operating results," Pascal said.

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