<PAGE> 1
U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB/A1
QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 1999
Commission File Number: 0-8698
CONCORDE GAMING CORPORATION
-----------------------------------------------------------------
(Exact name of small business issuer as specified in its charter)
COLORADO 84-0716683
------------------------------- -------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
3290 LIEN STREET
RAPID CITY, SOUTH DAKOTA 57709
----------------------------------------
(Address of principal executive offices)
(605) 341-7738
---------------------------
(Issuer's telephone number)
Not Applicable
----------------------------------------------------
(Former name, former address and former fiscal year,
if changed since last report)
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes [X] No [ ]
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: As of, February 7, 2000 there were
24,020,402 shares of the issuer's $.01 par value common stock outstanding.
Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]
<PAGE> 2
CONCORDE GAMING CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 1999
(unaudited)
(3) Segment Information
The Company's reportable segments are strategic business units that
offer similar products and services at separate geographical locations.
They are managed separately because each business requires different
technology and marketing strategies.
There are two reportable segments: the Casino Princesa and Golden Gates
Casino. The Casino Princesa is an offshore gaming vessel which sails
out of Miami, Florida. The Golden Gates Casino is located in Black
Hawk, Colorado.
The accounting policies applied to determine the segment information
are the same as those described in the summary of significant
accounting policies. The interest expense of each segment is
specifically identifiable to debt directly incurred to acquire the
segment's assets. No intercompany allocations or intersegment sales and
transfers have been made.
Management evaluates the performance of each segment based on profit or
loss from operations before income taxes, exclusive of nonrecurring
gains and losses.
Financial information in $1,000's with respect to the reportable
segments is as follows:
<TABLE>
<CAPTION>
Casino Princesa Golden Gates Total
1999 1998 1999 1998 1999 1998
------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C>
Revenues
Casino $ 3,021 $ 1,659 $ 849 $ 1,103 $ 3,870 $ 2,762
Food and beverage 474 244 23 68 497 312
Other 507 325 17 10 524 335
------- ------- ------- ------- ------- -------
Gross revenues 4,002 2,228 889 1,181 4,891 3,409
Less promotional allowance 751 392 16 22 767 414
------- ------- ------- ------- ------- -------
Net revenues 3,251 1,836 873 1,159 4,124 2,995
------- ------- ------- ------- ------- -------
Cost and expenses
Casino 1,837 565 577 667 2,414 1,232
Food and beverage 290 311 27 65 317 376
Management fees 155 90 -- -- 155 90
Selling, general and administrative 914 1,009 208 250 1,122 1,259
Depreciation and amortization 165 176 70 58 235 234
Pre-opening and start-up costs -- 541 -- -- -- 541
Interest expense 220 260 20 13 240 273
------- ------- ------- ------- ------- -------
Total costs and expenses 3,581 2,952 902 1,053 4,483 4,005
------- ------- ------- ------- ------- -------
Segment profit (loss) $ (330) $(1,116) $ (29) $ 106 $ (359) $(1,010)
======= ======= ======= ======= ======= =======
</TABLE>
2
<PAGE> 3
The following schedule is presented to reconcile amounts in the foregoing
segment information to the amounts reported in the Company's consolidated
financial statements.
<TABLE>
<S> <C> <C>
Segment net revenue $ 4,124 $ 2,995
Other -- --
------- -------
Consolidated net revenue 4,124 2,995
======= =======
PROFIT
Total loss of reportable segments $ (359) $(1,010)
Unallocated amounts:
Income
Interest income 15 14
Other 3 12
------- -------
Total income items 18 26
------- -------
Expense
General and administrative 226 192
Business development -- --
Other 15 20
Corporate interest 242 219
------- -------
Total expense items 483 431
------- -------
Consolidated net loss before income taxes $ (824) $(1,415)
======= =======
</TABLE>
3
<PAGE> 4
Signatures:
In accordance with the requirements of the Exchange Act, the registrant
caused the report to be signed on its behalf by the undersigned, thereunto duly
authorized.
CONCORDE GAMING CORPORATION
Date: May 22, 2000 By: /s/ Jerry L. Baum
---------------------
Jerry L. Baum, Chief Executive Officer
