Players International Loses $1.34 Million

Players International Inc., a Calabasas marketer of gambling resort discount packages, which continues to suffer from the weak economy, increased competition and declining membership in its travel club, reported another large loss in its fiscal second quarter.

Players lost $1.34 million in the three months that ended Sept. 30, in comparison with a year-earlier loss of $3.72 million. Its revenue tumbled 29%, to $4.1 million from $5.8 million.

In the first half of its fiscal year, the company lost $1.77 million, while revenue fell 28% to $8.95 million. A year before, Players lost $3.65 million on $12.5 million in revenue.

As a result of its continued losses, the company said it is focusing efforts on its new Southern Illinois riverboat casino--which it maintains has the best growth prospects among its operations--and is scaling back in other areas.

About 60 employees have been laid off since July, marketing programs have been cut back and officers’ salaries have been lowered, it said. The company said it is also negotiating to restructure the contract under which it provides marketing services for cash advances to gamblers.