LV gaming company posts loss on restaurant, Internet operations

Monday, June 19, 2000 | 10:55 a.m.

American Vantage Companies of Las Vegas reported a third quarter loss of $610,000 or 12 cents per share vs. a profit in the year-ago quarter of $1.2 million or 23 cents per share.

American Vantage operates the WCW Nitro Grill wrestling-themed restaurant at the Excalibur hotel-casino on the Las Vegas Strip.

For the quarter ending April 30, American Vantage had no casino consulting revenue vs. casino consulting revenue in the year-ago quarter of $2.5 million. This was due to the loss of a contract with the Table Mountain Indian casino in California. American Vantage is suing the tribe over the premature termination of the contract.

American Vantage reported quarterly restaurant revenue of $744,000 but said costs and expenses for restaurant operations totaled $987,000.

The company's new Internet recruitment operation, Placement 2000.Com, reported recruitment and Internet revenue of $145,000 and expenses of $343,000.

Placement 2000 is developing a website for a resume and job-posting database for information technology candidates as well as resume forwarding and recruitment marketing websites. Placement 2000 also has a traditional job recruitment business, American Vantage said.