ARCHON CORP REPORTS REVENUE GAINS

May 16, 2001 7:12 PM
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Archon Corporation, formerly Santa Fe Gaming, reported a pre-tax cash flow (EBITDA) of $3.8 million based on net revenues of $13 million for the quarter ended March 31.

For the six months ended March 31, the company reported EBITDA of $5.1 million based on net revenue of $23.4 million.

Within the reporting period, Archon sold the Santa Fe Hotel to Station Casinos, and reported a gain on sale of assets of $137.2 million.

Archon, which was founded by Paul Lowden, was approved by stockholders as the company’s new name at their annual meeting last week.