LV company increases profit estimate

Wednesday, March 7, 2001 | 10:26 a.m.

Alliance Gaming Corp. of Las Vegas increased its earings estimate for the year ending June 30 to $1.80 a share from its earlier estimate of $1.75 a share. In fiscal 2000, the game manufacturer and casino operator lost $15 million, or $1.47 a share, including $9.6 million in charges, on revenue of $478.1 million.

The company said the higher estimate is due in part to the sale of 651 game units from its Bally Gaming & Systems business to the Mohegan Sun casino in Connecticut. The latest estimate also reflects continued improvements at Bally Wulff in Germany, and strong third quarter results at the Rainbow Casino in Mississippi.

Alliance also reiterated guidance issued in a January conference call for the third quarter ending March 31 regarding the number of game units it expects to ship. A spokesman said the company expects to ship 2,500 game units, 6,000 game monitoring units and 3,400 units to be shipped for Germany.

By March 15 Alliance expects to have installed its first 100 units of its latest progressive game, Blondie. There is currently a backlog of orders for an additional 600 units that will be placed over the next three months.

The company's Millionaire 7 progressive game has been submitted to regulators in Nevada, Mississippi, New Jersey and to an independent testing service, and is to be introduced in the June quarter.