Search
 

Casino Owner Receives Delisting Warning

RENO, NV-The publicly held owner of the Sands Regency Casino and Hotel here is warned of a potential delisting after failing to file its annual report for its fiscal year ended June 30, 2006.

By Brian K. Miller | Updated on October 23, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

RENO, NV-Locally based Sands Regent has received a desliting warning from the Nasdaq Stock Market Inc. The publicly held owner of the 833-room Sands Regency Casino and Hotel here said Monday it is subject to delisting from the Nasdaq due to its failure to file its annual report (Form 10-K) for the year ended June 30 in a timely manner.

The news follow’s last week’s 8-K filing by the company, which described certain accounting errors from fiscal 2004 and 2005 and committed to restating the results in its upcoming annual report, which will be past due as of this Wednesday. The restatement involves correcting errors in Sands Regent’s accounting for deferred taxes, tax liabilities and tax provisions for the years ended June 30, 2004 and 2005, as well as errors in the classification of cash versus short-term debt balances for the year ended June 30, 2005.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.