Dunes Hotels and Casinos Inc. operates in three principal business segments: real estate (development and sale of residential lots and rental of agricultural land) agriculture (drying and storing rice) and distressed assets. The Company's real estate segment primarily develops and sells completed residential lots at The Fairways at Rancho Murieta, California, primarily to builders of custom homes and to the general public. The agricultural segment dries harvested rice over a two-month period and stores, for a fee, the dried rice until it is removed, normally within the following year as the storage charges are paid for a 12-month period. The distressed assets segment intends to acquire distressed real estate for the purpose of developing or rehabilitating and then selling or operating the property.
Financial Summary - Last Updated 06/20/02
BRIEF: Dunes Hotels and Casinos is engaged in 3 principal business segments, real estate (development & sales of residential lots & rental of agricultural land), agriculture, (drying & storing grain) & distressed assets. For the FY ended 12/31/01, total revs fell 53% to $1.4M. Net loss applicable to Common decreased 44% to $673K. Results reflect reduced proceeds from the sale of real estate, offset by lower real estate related costs.
Previous Two SEC Filings
Fiscal Dt
Fiscal Year
Q
First Updated
12/31/01
2001
4
04/27/02
09/30/01
2001
3
01/26/02
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