Earnings Alert: Nevada Gold & Casinos, Inc. (NYSE: UWN)

On Monday, Shares of Nevada Gold & Casinos, Inc. (NYSE: UWN) gained 0.21% to $2.42. The stock opened its trade at $2.41 and after floating in a price range of $2.41 to $2.42, the stock grabbed the investor’s attention and traded 1,221 shares as compared to its average daily volume of 98.70K shares. The stock’s institutional ownership stands at 42.60%.

Nevada Gold & Casinos, Inc. (NYSE: UWN) recently declared financial results for the first quarter ended July 31, 2018.

For the first quarter of fiscal 2019, the Company stated net revenues of $14.90M contrast to $15.00M in the first quarter of fiscal 2018. Operating expenses were $14.70M in both periods.  Operating income was $0.20M contrast to $0.30M, while income from continuing operations was $0.1 in both periods.

Net revenues from the Washington State gaming operations increased to $14.10M from $13.10M in the prior year period.  A higher table games hold percentage, although normal in both periods, was responsible for about $0.40M in additional revenue for the quarter and poker revenue increased $0.50M.  Adjusted EBITDA increased to $1.80M contrast to $1.20M in the prior year.

Club Fortune revenues were $3.20M contrast to $3.40M in the prior year and adjusted EBITDA declined by the same $0.20M.  South Dakota route revenues were $0.80M contrast to $1.90M in the prior period and adjusted EBITDA declined $0.30M due mainly to one month less of operations.  Corporate adjusted EBITDA was negative $0.70M contrast to negative $0.60M in the prior period and on a consolidated basis, adjusted EBITDA was $1.00M contrast to $1.10M in the prior year period.

The Company’s outstanding bank debt was $6.90M as of July 31, 2018, and unrestricted cash on hand was $8.40M.

UWN has a market value of $40.60M while its EPS was booked as $0.09 in the last 12 months. The stock has 16.81M shares outstanding. In the profitability analysis, the company has gross profit margin of 42.40% while net profit margin was 1.60%. Beta value of the company was 0.49; beta is used to measure riskiness of the security.

Penny Cook

Penny Cook is passionate about business and finance news with over 5 years in the industry starting as a writer working her way up into senior positions. She is the driving force behind www.nasdaqjournal.com with a vision to broaden the company’s readership throughout 2016. Cook is an editor and reporter of “Services” Category.

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