AMERICAN WAGERING INC (BETM)
Quarterly Report (SEC form 10QSB)
Management's Discussion and Analysis or Plan of Operation
Results of Operations
Fiscal Quarter ended July 31, 1999 compared to the Fiscal Quarter ended July 31,
Revenues for the Fiscal Quarter ended July 31, 1999 ("Second Quarter of Fiscal 2000") were $2,256,000, an increase of $623,000 or 38.2% from revenues of $1,633,000 for the Fiscal Quarter ended July 31, 1998 ("Second Quarter of Fiscal 1999"). The increase was principally attributed to an increase in Systems revenues of $693,000 and Casino revenues of $14,000 offset by a decrease in Wagering revenues of $84,000. Operating loss of $949,000 for the Fiscal Quarter ended July 31, 1999, varied favorably by $129,000 or 12.0% from an operating loss of $1,079,000 for the Fiscal Quarter ended July 31,1998. The favorable variance was principally attributed to additional Systems and Casino revenues in addition to a decrease in corporate expenses. Offsetting the improvement in operating loss between fiscal quarters was operating losses at our new Wagering entities, Mega$ports (US), which became a wholly owned subsidiary during the First Quarter of Fiscal 2000 and Mega$ports(ACT), which began operations in January 1999 and start up costs related to AWI Keno, Inc. which began operations in August 1999. |
