Anchor optimistic on prospects with Indian casinos, tracks and lotteries

Thursday, Aug. 10, 2000 | 10:24 a.m.

Anchor Gaming of Las Vegas on Wednesday reported a profit in its fourth quarter ended June 30 of $17.9 million or $1.54 per share, up from $12 million or $1 in the year-ago quarter.

The results include 5 cents per share in one-time gains.

Revenue increased from $122 million to $142 million for Anchor, a diversified gaming company with interests in slot machines, slot routes, lotteries, racetracks and casinos.

"After four consecutive quarters of year-over-year declines, we are extremely pleased to report our second consecutive quarter with year-over-year growth in revenue, EBITDA (cash flow) and earnings per share. Our management team is excited about this momentum as well as our growth prospects for the next eight quarters and beyond," said Chief Executive T.J. Matthews.

He said the firm is well positioned to exploit opportunities with Indian gaming in California, to place slot machines at racetracks and to sell lottery and pari-mutuel wagering systems.

archive