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American Wagering Inc. reduces loss for the quarter

Sep 16, 2008 7:00 PM

by Ray Poirier | Despite a drop in revenue, American Wagering Inc. (BETM), the parent company of Leroy’s horse and sports betting locations, reduced its loss for the quarter that ended on July 31 by 27%.

Net loss for the reporting period was $713,313 compared to a loss in the 2007 comparable period of $978,373.

Total revenues amounted to $3.5 million while last year’s revenues reached nearly $4 million.

In addition to Leroy’s, the company operates Computerized Bookmaking Systems Inc.; a division that installs self-service wagering kiosks, and Sturgeon’s Inn & Casino

The company said its business for the first two quarters of the fiscal year has been impacted "by a number of factors, including the subprime mortgage crisis and higher gasoline and transportation costs."