Here's another casino Tom.
ELSO ELSINORE CORP. OTC:BB Lately trading $1.18 - $1.50 Book value $1.50
fourqueens.com
lasvegasstrip.com
Elsinore Corporation is a registered a publicly traded holding company of Four Queens, Inc. the licensed operator of the Four Queens Hotel and Casino in Las Vegas, Nevada and a wholly owned subsidiary of the Company. Four Queens also holds a casino service license in New Jersey allowing it to distribute its casino game "Multiple Action Blackjack." Four Queens currently distributes the game to eight casinos in New Jersey. The Four Queens Casino is located on a leased site of approximately two acres adjacent to the Golden Nugget Hotel & Casino in the heart of Fremont Street in downtown Las Vegas. The property features approximately
690 hotel rooms, including 45 suites, 30,000 square feet of casino space, two full-service restaurants, two fast-service restaurants, three cocktail lounges, a gift shop, two retail
concessions, 14,600 square feet of function space and approximately 565 parking spaces.
Hugo's Cellar in the hotel - acclaimed as one of the best gourmet restaurants by the nation's leading restaurant critics and "Voted Best Gourmet Restaurant by Las Vegas Review Journal readers poll since 1991."
Location:
202 Fremont Street
Las Vegas, NV 89101
Phone: (702) 385-4011
Fax: (702) 387-5120
Employees as of 12/99: 1,038
John Waterfall, 62 Chairman
Jeffrey Leeds, 44 Pres and CEO
S. Barton Jacka, 63 Treasurer and Sec.
The following financial info as of March 31/2000 from the last 10Q:
Issued and outstanding 4,929,313 shares, as of March 31/2000
Float a mere 300,000 according to Yahoo and confirmed by the company as "about that".
6% cumulative convertible preferred stock, no par value. Authorized, issued and outstanding 50,000,000 shares. Liquidation preference of $19,652 at March 31, 2000.
Cash and cash equivalents $3,511,000
Total current assets $6,435,000
Total assets $48,726,000
Total Liabilities $21,674,000
Basic and diluted income per share for the quarter ended March 31/00
Basic income per share March 31/2000 $.29 March 31/99 $.18
Diluted income per share March 31/2000 $.02 March 31/99 $.01
Share dilution in the last year - ZERO!! How refreshing
"Management considers it important to the competitive position of the Four Queens Casino that expenditures be made to upgrade the property. Uses of cash included capital expenditures of $373,000 and $162,000 in the first quarter of 2000 and 1999, respectively. Management has forecasted $2.1 million for the year 2000.
The Company expects to finance such capital expenditures from cash on hand, cash flow, and slot lease financing. Based upon current operating results and cash on hand, the Company estimates it has sufficient operating capital to fund its operations and capital expenditures for the next twelve months."
Legal Proceedings:
On March 1, 2000, the Company filed its Answer to the Fourth Amended Complaint to the Paulson Lawsuit, denying the material allegations thereof. In addition, the Company alleged various counterclaims against plaintiffs for breach of the Merger Agreement, fraud and violations of the federal securities laws. On May 5, 2000, the Company filed its First Amended Counterclaims. The counterclaims seek
specific performance of the Merger Agreement, compensatory damages, punitive damages and other relief.
"MULTIPLE ACTION BLACKJACK"
gamingip.com Patented.
idaho-springs.com
trumptaj.com
gaming.state.co.us
("New Colorado Gaming Regulation 47.1-833 provides the rules for multiple action blackjack.
The Commission approved the multiple action blackjack game previously copyrighted and patented
by Four Queens Hotel & Casino in Las Vegas. Casinos contracting with Four Queens must have
the table layout approved by their local Division of Gaming office prior to implementing
play of multiple action blackjack.)
lasvegasstrip.com
shorecast.com
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