Wheeling Island Gaming Misses 2nd Quarter Forecast

On their Monday morning conference call with investors, Wheeling Island Gaming announced a 25% drop in 2nd quarter net-income caused by lower than expected casino gambling revenues and a slight increase in costs.

The total net-income for the 3 months ended was $4.7 million. One year ago, they posted net-income of $6.3 million for the same period.

A state gambling law approved in July 2005 that lowered Wheeling Island's share of net-terminal income also hurt casino gambling revenue, which accounts for 83% percent of all revenue.

The company also saw drops in pari-mutuel, food and beverage, and lodging revenues.

August 21, 2006
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!

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