Las Vegas Sun

November 16, 2009

Currently: 43° | Complete forecast | Log in

Revenue, profit increase for Horseshoe Gaming

Wednesday, Aug. 2, 2000 | 11:06 a.m.

THE ASSOCIATED PRESS

JOLIET, Ill. -- Embattled casino operator Jack Binion's Horseshoe Gaming Holding Corp. today reported a second quarter profit of $20.8 million vs. a loss in the year-ago quarter of $3.2 million.

Revenues soared 112 percent to $254 million as contributions from the newly acquired Empress Hammond and Empress Joliet casinos were included in the quarterly numbers. Horseshoe operates in Illinois, Indiana, Louisiana and Mississipi.

Cash flow -- earnings before interest, taxes, depreciation, amortization and other non-cash items (EBITDA) -- was $66.4 million for the three months ended June 30 vs. $32.6 million for the 1999 quarter.

Illinois gaming regulators last month found Binion unsuitable to hold a casino license and Binion is appealing that finding. He owns a small stake in the downtown Las Vegas Horseshoe Club.

archive

  • Most Read
  • Discussed
  • Most E-mailed

Complete Listing

Calendar »

  • 15 Sun
  • 16 Mon
  • 17 Tue
  • 18 Wed
  • 19 Thu

All events on Sunday »