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Alliance Drops After Warning

1 Oct 2004

SAN FRANCISCO, California – (PRESS RELEASE) -- Shares of Alliance Gaming fell 25 percent in early trade Friday after the company warned the night before that it expects to post a loss from continuing operations in the first quarter.

"Alliance Gaming stock was last changing hands for $11.28, down 25.1 percent. Earlier, the shares touched a 52-week low of $10.80.

"The Las Vegas-based gaming company cited both the games and systems divisions of its Bally Gaming subsidiary, as well as charges related to its CEO transition and costs due to staff restructuring, as reasons for its loss forecast.

"Alliance Gaming said it expects to report a loss of 9 cents to 14 cent a share for the period…"

 
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