|The Mandalay Resort Group (www.mandalayresortgroup.com) which owns and operates 11 casinos in Nevada with 15,000 rooms and ownership in other properties reported strong second quarter earnings. |
The Casino Company reported net income of $42.3 million, or 67 cents per share, compared with $29.3 million, or 41 cents per share, a year ago in the same period, exceeding analyst's expectations. Revenue for the period ending July 31 was $644.8 million, up from the year-ago figure of $603.7 million.
Mandalay's operating cash flow was $172.1 million for the Q2 was $165.5 million last year. Cash flow which is a benchmark for a Casino's profitability was $47.9 million in the second quarter, versus $38.8 million last year at Mandalay's flagship Bay hotel-casino. The average room rate was $181 with a 94 percent occupancy rate.