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GREATE BAY CASINO REPORTS FOR FIRST QUARTER

May 13, 2001 7:29 PM

Greate Bay Casino reported a net loss of $935,000 (or $0.18 per share) for the first quarter this year. Last year for the first quarter however, the company reported a net loss of $2.5 million ($0.49 per share).

Revenues for the first quarter this year were $6.5 million, compared to revenues of $717,000 in last year’s first quarter.

The increase in revenues and decrease in net loss was due to a big increase in software installation revenues at Advanced Casino Systems Corporation, the company’s only remaining operating subsidiary.