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Empire Resorts Q3 loss narrows YOY

Empire Resorts Inc. said its third-quarter normalized net income amounted to a loss of 11 cents per share, compared with a loss of 75 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.4 million, compared with a loss of $8.2 million in the prior-year period.

The normalized profit margin increased to negative 18.2% from negative 42.1% in the year-earlier period.

Total revenue declined 5.0% year over year to $18.5 million from $19.5 million, and total operating expenses decreased 25.3% year over year to $23.9 million from $32.0 million.

Reported net income totaled a loss of $5.6 million, or a loss of 18 cents per share, compared to a loss of $13.2 million, or a loss of $1.21 per share, in the year-earlier period.