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PRESIDENT CASINOS REPORT MIXED RESULTS

Jul 14, 2001 6:50 PM

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.