HORSESHOE GAMING REPORTS DECREASE IN EARNINGS

October 25, 2001 11:39 PM
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Illinois-based Horseshoe Gaming reported third quarter net income of $174.3 million, buoyed by the $162.5 million gain on the sale of its Joilet riverboat casino. Net last year was $20.7 million.

Net incomes in Bossier City, however, decreased 4% from last year's results, while Tunica reported an increase in net revenues of 8%.

Net revenues in Hammond increased 3% in the third quarter compared to the prior year.

Overall, EBITDA reached $52.6 million for the quarter as compared to $60.4 million reported last year.