Casino’s earnings improve

Wednesday, May 9, 2001 | 10:15 a.m.

The Majestic Star Casino of Gary, Ind., reported a slight improvement in earnings for the quarter ended March 31.

The casino's holding company reported cash flow of $6.7 million, up 5.5 percent from the year-ago period, and net revenues of $32.6 million, a 4.3 percent increase.

The privately held company reported a net loss of $77,000 on the quarter, compared to a loss of $368,000 in the year-ago period.

An affiliate of the Majestic Star has signed a pact to acquire three casinos from Fitzgeralds Gaming Corp. of Las Vegas, including the Fitzgeralds hotel-casino in downtown Las Vegas. Majestic Star is controlled by Detroit businessman Don Barden, the nation's only black casino company owner.

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