Nevada Gold & Casinos Ltd. (UWN) Reports Q2 Loss of $0.05
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Nevada Gold & Casinos Ltd. (NYSE: UWN) reported Q2 EPS of ($0.05), versus ($0.03) reported last year. Revenue for the quarter came in at $12.8 million, versus $12.3 million reported last year.
The Company expects its normalized EBITDA to be in excess of $5.0 million annually post the closing of the purchase of AG Trucano, Son & Grandsons, Inc., and the pending sale of the Colorado Grande Casino. The Company expects EBITDA for the calendar year 2011 to be less than expected in a range of $3.3 million to $3.6 million primarily due to the lower than expected hold percentage in the second quarter and some softness in consumer demand.
The Company expects its normalized EBITDA to be in excess of $5.0 million annually post the closing of the purchase of AG Trucano, Son & Grandsons, Inc., and the pending sale of the Colorado Grande Casino. The Company expects EBITDA for the calendar year 2011 to be less than expected in a range of $3.3 million to $3.6 million primarily due to the lower than expected hold percentage in the second quarter and some softness in consumer demand.
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