The Las Vegas company that owns Stockman's Casino in Fallon said last week that business is beginning to stabilize after several months of decline.
Full House Resorts Inc. said it posted profits of $554,429 on revenues of $2.3 million from its casino operations. A year earlier, revenues were $2.6 million and profits totaled $741,488.
The big problem was a decline in food and beverage sales at Stockman's, said Andre Hilliou, chief executive officer. He said the slumping economy, as well as increased competition in Fallon, contributed to weak sales.
He said the publicly traded company continues to look for acquisitions in the gaming industry including operations in northern Nevada although it's in no rush. Sales prices, he says, remain attractive as casino operators struggle with effects of the recession.
"We are patient, and we believe there will be very attractive opportunities," Hilliou told investment analysts.
Full House purchased Stockman's in early 2007.
