LV company says big quarter expected

Wednesday, Nov. 15, 2000 | 9:52 a.m.

Alliance Gaming Corp. of Las Vegas announced that earnings for the quarter ending Dec. 31 should exceed previous expectations.

In October, company officials told investors that the company expected to record cash flow of $17 million to $19 million for the quarter. Based on strong performances by Alliance's Bally Gaming and Systems, as well as German subsidiary Bally Wulff, the company now expects to report cash flow of $19 million to $21 million, and between 40 cents to 50 cents in earnings per share.

In a statement Monday, Alliance Chief Financial Officer Robert Saxton said the company believes mid-quarter guidance may be prudent in the future, "particularly when our financial performance differs materially from existing guidance." Alliance will release its fourth-quarter earnings on Jan. 12.

During the quarter ending Sept. 30, Alliance posted net earnings of $3.4 million, or 32 percent share, up from earnings of $445,000 or 4 cents per share in the 1999 period. Cash flow rose 33 percent to $14.7 million.

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