Southwest Casino Corporation (OTCBB:SWCC) announced today that for the quarter ended June 30, 2005, Southwest had net earnings of $299,901 on revenues of $5,181,169 or $0.02 per outstanding share ($0.01 per share on a fully-diluted basis), as compared to a net loss of $440,639 on revenues of $5,291,179 or $0.12 per outstanding share for the same period of 2004.
For the six months ended June 30, 2005, Southwest had a net loss of $106,987 on revenues of $9,896,767 as compared to a net loss of $469,100 on revenues of $10,503,824 for the same period of 2004. This amounts to a loss of $0.01 per outstanding share for the six months ended June 30, 2005 as compared to a loss of $0.13 per outstanding share in the first six months of 2004.
About Southwest Casino Corporation
Southwest Casino Corporation develops, owns, operates and manages casinos, gaming facilities and related amenities. Southwest owns and operates three casinos in Cripple Creek, Colorado and provides management services to the Lucky Star Casinos in Concho and Clinton, Oklahoma under a management agreement with the Cheyenne and Arapaho Tribes of Oklahoma. Southwest owns a 50 percent membership interest in North Metro Harness Initiative, LLC, which has been granted licenses that are currently subject to judicial review to develop and operate a harness racetrack in the Twin Cities metropolitan area of Minnesota. Southwest's corporate offices are located at 2001 Killebrew Drive, Suite 350, Minneapolis, Minnesota 55425.
This Press Release does not constitute an offer of to sell or solicitation of an offer to buy any securities.
This Press Release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements regarding Southwest Casino Corporation that are not historical in nature, particularly those that utilize terminology such as "may," will," "should," "likely," "expects," "anticipates," "estimates," "believes," or "plans," or comparable terminology, are forward-looking statements. These forward-looking statements are based on current expectations and assumptions, and entail various risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Important factors known to Southwest Casino Corporation that could cause result to differ materially from those expressed in forward-looking statements are described in the Company's periodic reports filed with the Securities and Exchange Commission, including those factors discussed on pages 14 to 21 of Southwest Casino Corporation's Form 10-KSB filed March 31, 2005, which discussion is also incorporated by reference. Southwest Casino Corporation does not undertake to update any forward-looking statements; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public.
|
Southwest Casino Corporation Announces 2nd Quarter 2005 Earnings