PRNewswire BLACK HAWK, Colo. Nov. 7 :
Jacobs Entertainment, Inc. (JEI), an owner and operator of multiple gaming
properties, today announced unaudited financial results for its third
quarter and nine-month period ended September 30, 2003.
Net revenue for the third quarter of 2003 was $44.2 million approximately
equal to the third quarter in the previous year. Net income for the third
quarter of 2003 was $770,000 compared to net income of $1.8 million in the
same quarter in the previous year.
Net revenue for the nine-month period ended September 30, 2003 was $129.2
million compared to $112.9 million for the nine-month period ended
September 30, 2002. Net income for the nine-month period ended September
30, 2003 was $3.2 million compared to $2.9 million for the same period in
the previous year.
Due to the significance of the acquisitions occurring on February 22,
2002, whereby JEI became a geographically diversified gaming and
pari-mutuel wagering company with properties in several states, the
overall composition of our financial position and the results of our
operations have significantly changed for the nine month period ended
September 30, 2003 as compared to the nine month period ended September
30, 2002. As a result of the combination of the different entities and
periods covered by the various transactions, a comparison between these
two periods on a historical basis is not meaningful. Additional pro forma
information is available in JEI`s Form 10-Q filed with the Securities and
Exchange Commission on November 7, 2003.
JEI will host a conference call to discuss its third quarter and nine-
month period ended September 30, 2003 operating results. The conference
call will be held at 1:00 p.m. Eastern Time on Monday, November 10, 2003,
and will be hosted by Stephen R. Roark, President of Casino Operations and
CFO for JEI and Ian M. Stewart, President of Pari-Mutuel and Video Poker
Operations, along with other members of the management team of various
subsidiary companies of JEI.
To participate in the JEI conference call on Monday, November 10, 2003, at
1:00 p.m. Eastern Time, please dial (800) 289-0528 and give confirmation
code #126570. Please call 5-7 minutes before the call is to begin.
If you are unable to join the JEI conference call, you may access a replay
of the call starting at 4 p.m. Eastern Time on Monday, November 10, 2003.
To access the replay, please dial (888) 203-1112 and reference the
confirmation code #126570. The replay will be available at 4 p.m. Eastern
Time on Monday, November 10 and will continue until Midnight Eastern Time,
Wednesday, November 12, 2003.
Based in Black Hawk, Colorado, Jacobs Entertainment is the owner and
operator of the Lodge Casino at Black Hawk, the Gilpin Hotel Casino in
Black Hawk, The Gold Dust West Casino in Reno, Nevada (the casino
properties), Colonial Downs Racetrack, and four related off-track wagering
facilities in Virginia and seven truck plaza video gaming facilities in
Our business and financial performance are subject to a number of risks
and uncertainties that might adversely affect our operating results in the
future in a material way: intensity of competition, our ability to meet
debt obligations, regulatory compliance, taxation levels, effects of
national and regional economic and market conditions, labor and marketing
costs, success of our diversification plan and the successful integration
of our operations.
For further information, please contact Stephen R. Roark, President of
Casino Operations and Chief Financial Officer of Jacobs Entertainment,
Inc., +1-303-582-1117 ext. 7249.