The owner of Stockman's Casino at Fallon says the property earned approximately $800,000 in the third quarter, a decline of 20 percent from year-earlier figures.
Full House Resorts Inc. of Las Vegas said revenues at Stockman's during the quarter were $2.4 million, down about 7 percent from a year ago.
The company blamed general economic weakness and consumer worries for the declines. But the company said the Churchill County gaming market appears to be leveling off after recent declines.
Full House continues its search for other casino acquisitions around the state, and a top executive said sellers are dropping their prices as the gaming market continues to weaken.
"We are seeing some rationalization of expectations," said Mark Miller, chief financial officer of publicly held Full House.
But he said it's difficult to price casinos in the current market
because no one can predict with any certainty what gaming properties are likely to earn in coming years.
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