Software installations boost Acres Gaming profits

Friday, Aug. 24, 2001 | 11:04 a.m.

The installation of computer software systems at MGM MIRAGE, Station Casinos and Indian casino properties led to a financial turnaround for Acres Gaming Inc.

The Las Vegas-based company reported net income of $1.7 million, 16 cents a share, on revenue of $13.6 million for the company's fiscal fourth quarter ending June 30.

The company, which develops and sells casino accounting, player tracking and loyalty bonusing software, had a loss of $3.8 million, 43 cents a share, on revenue of $3.2 million in the same quarter a year ago.

Bud Glisson, Acres' chairman and chief executive officer, said the turnaround could be attributed to several installations that occurred during the quarter.

"The turnaround in the company from where we were a year ago has been dramatic by almost any standard," Glisson said.

But Glisson also said the company experienced delays in the installation of some bonus systems -- those that identify and track player loyalty -- because of additional time in development of customized features for systems, the regulatory review process and casino readiness.

"Our relationship with both Station Casinos and MGM MIRAGE remains quite strong and our main objective is to make sure that when implemented, Bonusing will be successful throughout their casino properties," Glisson said.