AMERICAN WAGERING POSTS YEARLY PROFIT

Jun 9, 2001 8:14 PM

American Wagering Inc., operators of Nevada's popular Leroy's Horse and Sports Place franchise, reversed a year 2000 loss and reported a profit of $464,029, or 4 cents per share, for the fiscal year ended January 31.

The company attributed the results to reduced costs and expenses. While revenues dipped slightly year over year, from $12.5 million to $12 million, expenses were reduced by nearly $1.2 million. The bottom line also benefited from $981,856 in unspecified legal judgments and settlements.

In 2000, the company reported a net loss of $814,531, or 13 cents per diluted share.