Southwest Casino Corp. (SWCC)

[THUMBS]

......(.18)here....geeesh.
<<<<Time to maybe snag a few?Just a tough start??...-from last filing...

“Southwest achieved two key goals in our efforts to stabilize and grow our business platform during the second quarter,” commented Southwest CEO James Druck. “First, after a tremendous amount of hard work, Running Aces Harness Park, a $62 million racetrack and card room in Minnesota, opened on time and on budget and is now fully operational. On April 11th we began harness racing, a change in state law allowed us to expand into all-breed simulcast wagering in early May, and most importantly, we opened the 50-table card room at Running Aces on schedule on the evening of June 30th after completing 50 days of live harness racing. Second, the consulting services we have provided to Palace Resorts for the past 10 months led to an expansion of that relationship into a long-term agreement to manage the casino we are helping them develop in the Dominican Republic. Our Colorado casinos continue to outperform a market that is down. We may be beginning to see the impact of the soft economy at all of our facilities as well as the effects of the smoking ban in our Colorado casinos that began this year. We anticipated the losses at Running Aces, which were primarily due to pre-opening expenses, including hiring and training more than 500 employees, and the cost of completing the first live race meet before we were permitted to open the card room. As always, we continue to explore opportunities that will enhance and expand Southwest and increase shareholder value.” About Southwest Casino Corporation Southwest Casino Corporation develops, owns, operates, manages and provides consulting services to casinos, gaming facilities and leisure facilities. Southwest owns and operates two casinos, the Gold Rush Hotel and Casino and Gold Digger’s Casino in Cripple Creek, Colorado. Southwest also owns a 50 percent membership interest in North Metro Harness Initiative, LLC, which owns and operates Running Aces Harness Park, a harness racetrack and 50-table card room in Columbus, Minnesota on the north side of the Twin Cities Metropolitan Area.