Progressive Gaming posts loss


Progressive Gaming International Corp., which will have to post a $20 million bond while it appeals a $39 million federal antitrust judgment, said Wednesday that it lost 12 cents a share in third quarter.

The Las Vegas-based gaming technology provider, which has sold off its table games division and slot machine operations over the past year, said it had $18.3 million of revenues in the quarter ended Sept. 30, up 29 percent from a year ago.

However, expenses, a loss from continuing operations, a loss of income from discontinued operations and other costs ate up the revenues and then some. Progressive reported an operating loss of $1.5 million. A year ago, the company lost $3.3 million.

However, Progressive Gaming said it had grown the placements of gaming systems in the quarter, including 5,500 slot machine management systems and 1,400 table game systems.

Progressive Gaming shares rose 2 cents, or 0.05 percent, Wednesday to close at $3.98 on the Nasdaq National Market.

 

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