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Laughlin casino operator reports a loss

Tuesday, Dec. 30, 2003 | 11:17 a.m.

Archon Corp. of Las Vegas on Monday reported a loss of $2.3 million, or 42 cents per share, for the quarter ending Sept. 30.

The loss was higher than the $1.8 million loss, or 36 cents per share, reported for the same 2002 quarter. Revenue for the quarter was $10.3 million, down from $10.9 million for the year-ago period.

Archon owns the 27-acre Las Vegas Strip parcel that is currently home to the Wet 'n Wild water park and has indicated that it plans to build a resort on the site. The company also owns the Pioneer Hotel and Gambling Hall in Laughlin.

For the fiscal year ending Sept. 30, Archon reported a net loss of $9.1 million.

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