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Empire Resorts Q1 loss narrows YOY

Empire Resorts Inc. said its normalized net income for the first quarter came to a loss of 28 cents per share, compared with a loss of 46 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.5 million, compared with a loss of $3.3 million in the prior-year period.

The normalized profit margin rose to negative 17.4% from negative 22.9% in the year-earlier period.

Total revenue came to $14.5 million, compared with $14.6 million in the year-earlier period, and total operating expenses rose 5.9% on an annual basis to $17.9 million from $16.9 million.

Reported net income totaled a loss of $4.0 million, or a loss of 46 cents per share, compared to a loss of $5.5 million, or a loss of 75 cents per share, in the prior-year period.