Company posts loss during quarter

Friday, Nov. 23, 2001 | 10:15 a.m.

Casino Journal Publishing Group Inc. of Las Vegas reported a loss of $25,000, or 1 cent per share, for the quarter ending Sept. 30. This compares to net income of $145,000, or 2 cents per share, in the year-ago quarter.

The magazine publisher reported revenues of $2.38 million, a 26 percent decline from the year-ago period. The year-ago quarter's results included trade show and trade magazine assets sold to GEM Communications in January.

Revenues from the remaining assets were flat when compared to last year's quarter, Casino Journal said advertising revenues rose 6 percent to $1.68 million, but subscription revenue was down 12 percent to $601,000.

"The slowing economy and the horrific events of Sept. 11 slowed our company's growth in the third quarter," Glenn Fine, chairman and chief executive of Casino Journal, said.

Casino Journal owns 12 publications, including Casino Player, Strictly Slots, Poker Digest and the Atlantic City Insider.