Eldorado income rises in third quarter
Reno-based Eldorado Resorts, Inc., reported net income of $29.5 million in the third quarter, or 38 cents per basic share, as the company led by the Carano family continued to show strong growth in its shares which have more than doubled in value in the past year.
“Our growth continues to be broad-based,” Gary Carano, chairman and CEO, said in a statement accompanying the earnings report.
Carano attributed a 1 percent decline in revenues in the July-September period partly on impacts from two hurricanes that struck the Gulf of Mexico’s U.S. coastline where Eldorado operates casino resorts among the company’s 19 gaming properties in 10 states.
Eldorado shares on Friday were trending higher, surpassing $28 in midmorning trading on the Nasdaq exchange.
“I point out many cases of where privately owned companies do just as bad a job as publicly owned companies,” says Reno resident and former teacher Robert (R.D.) Gardner.