This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Nevada Gold Announces First Quarter 2013 Financial Results

Stocks in this article: UWN

Adjusted EBITDA Increases 50% Washington Gold and South Dakota Gold Operations Both Perform Well

HOUSTON, Sept. 12, 2012 (GLOBE NEWSWIRE) -- Nevada Gold & Casinos, Inc. (NYSE MKT:UWN) today announced financial results for the first quarter of fiscal 2013, ended July 31, 2012.

First Quarter 2013 Financial Highlights

  • Net revenues increased 31.8% to $16.8 million
  • Operating income of $0.7 million compared to $0.01 million in the prior-year period
  • Net income per share from continuing operations of $0.01 compared to $0.00 in the prior-year period
  • Adjusted EBITDA (1) from continuing operations increased 50% to $1.3 million

"Nevada Gold started the new fiscal year on a strong note," said Interim President Ernest East. "We are very pleased with the performance of the South Dakota Gold slot route business we acquired in January 2012. The many steps we took to re-energize and ramp up its operations had a very positive impact and business during the summer tourism season exceeded our expectations. South Dakota Gold contributed more than $400,000 to the company's adjusted EBITDA in the first quarter, and we remain on track to realize more than $1 million in adjusted EBITDA annually through its operations. This morning's announcement about the addition of The Midnight Star to our Deadwood, SD slot machine route provides additional confirmation of the progress we have made."

Mr. East added, "Our Washington Gold casino operations also performed well, with a solid increase in net revenues and adjusted EBITDA due to a 17% increase in table drop. As expected, our hold percentage in Washington Gold stabilized and met our expectations for the period. Our addition of a tenth mini-casino, the Red Dragon, in July 2011 strengthened our portfolio, contributing to our year-over-year adjusted EBITDA improvement. With a strong first quarter behind us, we continue to work towards achieving Nevada Gold's previously stated operational and financial goals."

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs