More on Nevada Gold & Casinos Q2 results [Seeking Alpha]
NEVADA GOLD & CASINOS (UWN)
NASDAQ:AMEX Investor Relations:
nevadagold.com
Company Research
Source: Seeking Alpha
Nevada Gold & Casinos ( UWN ) reports Q2 revenue decrease of 10.4% Y/Y to $14.35M. Net revenues from the Washington State gaming operations increased to $14.4M (+4.3% Y/Y) & adj. EBITDA increased to $2M (+17.6% Y/Y). Club Fortune revenues were $3.2M (-5.9% Y/Y) & adj. EBITDA declined by 50% Y/Y to $0.2M. South Dakota slot route operations provided no revenue or EBITDA in the current quarter. Corporate adj. EBITDA was negative $0.7M. On a consolidated basis, adj.EBITDA was $1.4M compared to $1.3M Y/Y. The Company paid down $1.1M in debt during the fiscal year. The unrestricted cash balance was $9.8M, and total outstanding borrowing was $6.9M. The Company anticipates closing on the Club Fortune sale on December 31, 2018, and the Maverick merger & acquisition transaction in Q1 2019. Previously: Nevada Gold & Casinos reports Q2 results (Dec. 17 2018) Click to subscribe to real-time analytics on UWN Now read: FTC grants antitrust clearance for Flex
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