Date: Fri, 19 Dec 1997 00:58:26 GMT Server: RapidSite/Apa-1.2.1 FrontPage Last-Modified: Fri, 15 Aug 1997 14:41:26 GMT ETag: "1447d0a-16d7-33f46a96" Content-Length: 5847 Accept-Ranges: bytes Connection: close Content-Type: text/html Florida Gaming Corp. Financial Statement


FLORIDA GAMING CORPORATION

STATEMENT OF OPERATIONS

(UNAUDITED)
 
Three Months Ended Six Months Ended
June 30,1997 June 30, 1996 June 30,1997 June 30, 1996

HANDLE:

Jai-Alai $ 25,225,117 $795,457 $ 54,414,727 $ 3,665,582
Inter- Track Wagering (ITW) $ 14,286,418 $5,368,428 $ 28,976,938 $ 11,493,570
Total Pari-Mutuel Handle $39,511,535 $6,163,885 $83,391,665 $15,159,152

REVENUES:

On Site Mutuel Revenue, Net of
Pari-Mutuel taxes to State of Florida $ 4,100,204 $175,820 $8,978,619 $ 807,804
Inter Track Mutuel Commissions 1,272,672 533,852 2,639,501 1,140,602
Net Pari-Mutuel Revenue 5,372,876 709,672 11,618,120 1,948,406
Cardroom Income 99,649 --- 99,649 ---
Admissions Income 148,824 32,822 325,599 77,334
Program, Food,Beverage and Other 1,022,980 160,187 2,286,877 496,565
Total Operating Revenue $6,644,329 $902,681 $14,330,245 $2,522,305

EXPENSES:

Operating $5,027,498 $806,651 $9,943,955 $2,139,357
General and Administrative 2,382,931 487,685 4,793,045 913,911
Depreciation and Amortization 73,711 48,600 291,722 97,200
Summer Jai-Alai 22,334 --- 22,334 ---
Total Costs and Expense 7,506,474 1,342,936 15,051,056 3,150,468
Net Income (Loss) From Operations $( 862,145 $(440,255) $(720,811) $(628,163)

OTHER INCOME (EXPENSES)

Interest and Other Income 144,392 60,208 211,561 104,905
Net Income (loss) $(717,753) $(380,047) $(509,250 $(523,258)
Earnings (loss) per Common Share $ (0.15) $ (0.11) $ (0.11) $ (0.16)
Earnings (loss) per Common Share (fully diluted) N/A N/A N/A N/A
Weighted Avg. Common Shares Outstanding 4,916,825 3,321,972 4,688,763 3,261,093

Contact: W. Bennett Collett, Chairman, or

Timothy Hensley, CFO, (502) 589-2000 or (305) 633-6400