President Casinos posted a net loss of $2.5 million for the quarter ended May 31 as its casinos in St. Louis and Biloxi reported a ”˜flip-flop’ in net income.
The St. Louis casino reported an operating income of $1.5 million, nearly double last year’s $826,000, while the Biloxi property reported $871,000, about half of last year’s $1.7 million.
Overall, the company had net income before taxes (EBITDA) of $3.4 million for the quarter, compared to $5.9 million in the previous year.
