Financial ResultsFor the fourth quarter of fiscal 2010, net revenues increased to $6.0 million compared to $1.4 million in the fourth quarter of fiscal 2009. The Company did not record a management fee during the fourth quarter of 2010 compared to $0.2 million in the fourth quarter of 2009, due to the termination of the management agreement with SunCruz. Operating expenses increased to $10.7 million from $3.0 million in the fourth quarter of 2009. The increase is primarily due to an asset impairment of the Colorado Grande goodwill of $2.75 million, a valuation allowance of $1.6 million against the Route 66 settlement receivable and the addition of three mini casinos in Washington offset by reductions of corporate overhead and legal expenses.
Nevada Gold Announces Fourth Quarter And Fiscal Year 2010 Financial Results
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