Landry’s Restaurants on Wednesday announced its results for the second quarter ending 30 June.
The Houston company’s income from continuing operations totaled USD 8.3 million (EUR 5.8 million), down from USD 14 million (EUR 9.9 million) during the same period last year.
Landry’s revenues also fell, to USD 282 million (EUR 198.6 million) from USD 308.1 million in 2008. Total 2009 revenues reached USD 538.3 million (EUR 379.1 million), compared to USD 600.4 million last year.
In the second quarter of 2009, revenues from the restaurant and hospitality group totaled USD 425.8 million (EUR 299.8 million), compared to USD 464.1 million in 2008 and USD 200.3 million in the first quarter of 2009. Revenues for the gaming properties reached USD 112.5 million (EUR 79.2 million), compared to USD 136.3 million during the same period last year.
“We remain encouraged with the restaurant and hospitality division results given the difficult economic circumstances,” said Rick Liem, Landry’s executive VP and CFO. “However, gaming division results continued to deteriorate through the second quarter, with no signs of improvement in July, as we battle an increasingly competitive marketplace in Las Vegas.”
Landry’s operates several chains nationwide, including Landry’s Seafood House and Chart House, and the Golden Nugget Hotel and Casino in Las Vegas and Laughlin, Nev.
