Please wait while we load the requested 10-Q report or click the link below:
https://last10k.com/sec-filings/report/1326688/000110465908070719/a08-25508_110q.htm
Exhibit 99.1
155 EAST TROPICANA, LLC ANNOUNCES FOURTH QUARTER
AND FULL YEAR 2007 FINANCIAL RESULTS
Las Vegas, NV April 1, 2008 155 East Tropicana, LLC (the Company) today announced full year and fourth quarter operating results for the period ended December 31, 2007. The Company owns the Hooters Casino Hotel in Las Vegas, Nevada, which celebrated its grand opening on February 2, 2006.
Operating highlights of 155 East Tropicana, LLC for the full year and fourth quarter ended December 31, 2007, compared to the results of operations for 155 East Tropicana, LLC for the same periods in 2006, are as follows:
· Net loss for 2007 improved by $4.3 million from a loss of $18.4 million in 2006 to $14.1 million in 2007.
· Net revenues for the full year 2007 declined 3.0% to $65.0 million, compared to $66.7 million in 2006. Adjusted EBITDA(1) was $6.7 million for 2007, compared to $7.6 million for 2006. A substantial portion of the annual decline in revenues and Adjusted EBITDA(1) occurred in the fourth quarter of 2007.
· Net revenues for the fourth quarter of 2007 declined 12.0% to $14.8 million, compared to $16.8 million in the fourth quarter of 2006. Adjusted EBITDA(1) was $1.8 million in the fourth quarter 2007, compared to $2.4 million in the same quarter of 2006.
During the fourth quarter of 2007, we added key marketing programs to promote revenue, stated Mr. Gary Gregg, Chief Operating Officer. We also overhauled our operational expense structure, reorganized our management team, restaurant operations, staffing levels, benefit programs and other expenses. We feel confident that these improvements will better position us to reach our goals in 2008.
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by 155 East Tropicana, Llc.
Please wait while we load the requested 10-Q report or click the link below:
https://last10k.com/sec-filings/report/1326688/000110465908070719/a08-25508_110q.htm
Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.
ContinueRead positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.
ContinueRemove data columns and navigations in order to see much more filing content and tables in one view
ContinueRead both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q
ContinueExport Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis
ContinueGet one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports
Continue for FREEOur Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not
ContinueOur Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity
ContinueSee how over 70
Growth, Profitability and Financial Ratios perform over 10 Years