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November 9, 2009

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Terrorism hurts Las Vegas convention company’s profits

Tuesday, Sept. 25, 2001 | 9:28 a.m.

The parent company of GES Exposition Services Inc. of Las Vegas has lowered its earnings estimates for the third quarter after dozens of conventions and trade shows were canceled following the Sept. 11 terrorist attacks.

Viad Corp., Phoenix, reduced its estimated range of earnings per share from 40-45 cents to 30-35 cents and its estimated range of earnings per share for the year from $1.55-$1.60 to $1.25-$1.30.

GES, which provides contracted exposition services at convention centers in 36 North American cities including Las Vegas, attributed the reduction to cancellations in each of its cities and expected lower attendance at shows that haven't canceled.

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