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December 4, 2009

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Lack of casino openings hurts Vegas manufacturer

Wednesday, Aug. 9, 2000 | 11:07 a.m.

Casino table game equipment supplier Paul-Son Gaming Corp. of Las Vegas said it lost $179,000 or 5 cents per share in its fourth quarter ending May 31 vs. a profit in the year-ago quarter of $27,000 or 1 cent.

Quarterly sales of $5 million were down from $6.7 million.

"Fourth-quarter revenues declined versus the prior year due to the absence of significant new casino openings or expansions, as well as customer-requested delays of certain shipments near the end of the quarter," said Chairman and Chief Executive Eric Endy. "We remain encouraged as our gross margin percentage for the fiscal year improved despite a decline in annual revenues, and our selling, general and administrative expenses declined significantly versus the prior year period."

Paul-Son also announced the appointment of Paul S. Dennis as a member of its board of directors, subject to regulatory approvals. Dennis is president and chief executive officer of Associated Health Care Management Co. of Cleveland.

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