Boca Raton Resorts Inc. Still Bleeding

BOCA RATON, FL-The New York Stock Exchange-traded company lost $27.6 million for the quarter ended Sept. 30 versus a loss of $31 million in the comparable 1999 period. Entrepreneur H. Wayne Huizenga is chairman/CEO.

By Alex Finkelstein | Updated on November 03, 2000

BOCA RATON, FL-Entrepreneur H. Wayne Huizenga isn’t too cheerful over his Boca Raton Resorts Inc.’s bottom line performance these days, but at least the bleeding is slowing a little.

The company reported a loss of $27.6 million (68 cents a share) for the quarter ended Sept. 30. That showing compares to a loss of $31 million (76 cents a share) in the same period last year.

However, the company’s sales increased 15% to $62 million from $54.1 million in last year’s same quarter. Room revenue per available room was up 9.7%.

Besides hotel properties, the Boca Raton-based company, 40 miles north of Downtown Miami, also owns the Florida Panthers of the National Hockey League. Microsoft Corp. founder Bill Gates has a 5% equity interest in the firm.

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