Quarterly gains lift Nevada Gold and Casinos in “difficult” environment

There has been recorded a rise in revenue generated by the US based casino operator Nevada Gold and Casino before the tax, interest, depreciation and amortization in the 2nd quarter of financial year 2014. This revenue rise was evident despite this spell of time being branded as the difficult income environmental time.

Nevada and Gold casino recorded EBITDA which amounted to $1.4 million within the 3 months up to 31st October. This was opposed to the $1.3 million that was recorded at the same time last year. This symbolized an increase in $0.1 million.

This year also, Nevada Gold and Casino recorded a rise in the total net revenue which rose to $220,757 from the loss of $819,008 which was recorded the previous year.

Nevertheless, as it is said that everything with advantages has disadvantages, this company also recorded a drop in the total income which fell from $16.4 million to $16.3 million within the initial 6 months of financial year 2014, the EBITDA was recorded to be $2 million as opposed to the $2.6 million that was recorded the same time in 2012. This also followed the drop in the net income to $32 million from $33.2 million within the initial 6 months of the year.

The CEO and president of Nevada Gold and Casino Michael Shaunnessy said that despite being in the difficult surroundings, the firm has delivered quality outcomes and that they are looking forward to do the same in the two remaining quarters.

He added that during this spell, they were focused on keep their margins at balance as they go ahead in discovering new income chances. He concluded by saying that they were in the process of reshaping the companies’ management that may work well with Nevada Gold and Casino investments factor as well as improving the value of the shareholder.