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MAJESTIC STAR POSTS STRONG 2Q

Jul 23, 2001 9:08 PM

The Majestic Star Casino reported that the three month period ended June 30 produced net revenues of $31.7 million compared to $29.8 million for the same period last year, an increase of approximately $1.9 million or 6.5%.

In addition, net income for the three month period was $296,000, compared to a loss before extraordinary items of $793,000 last year, an improvement of 137.4%.

Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, loss on bond redemption, loss on disposal of assets and costs associated with its ``unrestricted subsidiary'' Majestic Investor, LLC) was $6.7 million compared to $5.7 million in the prior year.