Anchor Gaming reports 55 percent increase

Thursday, Oct. 18, 2001 | 9:51 a.m.

Lottery fever helped propel Anchor Gaming of Las Vegas to big gains in cash flow and net income for the quarter ending Sept. 30.

The firm Thursday reported net income of $29 million, an increase of 55 percent over the year-ago period. Per-share income rose 137 percent to $1.85 per share. Revenues increased 3 percent to $142 million, a record, while cash flow rose 31 percent to $69 million.

The largest portion of Anchor's business, its slot machine joint venture with International Game Technology, brought in $40 million in revenue for the quarter, up 18 percent from the year-ago period. However, Anchor warned that business may slow down because of the Sept. 11 attacks.

Anchor's lottery business, AWI, reported cash flow of $12 million for the quarter, a 361 percent increase over the year-ago period.

Anchor's gaming operations business, which includes casinos in San Diego and in Colorado, reported cash flow of $13 million.