78.5 F
San Fernando
Wednesday, Dec 6, 2023

Tix Reports Zero Revenue During Las Vegas Closure

Tix Corp. brought in no revenue during the second quarter as its discount ticket booths in Las Vegas were shut down due to the coronavirus outbreak. The Studio City ticket seller for shows, events and dining in Las Vegas reported a net loss of $1.3 million (-8 cents a share) for the quarter ending June 30, compared with a net loss of $13,000 (0 cents) in the same period a year earlier. Revenue dropped 100 percent to $0 for the quarter. No analysts follow the company. With the closure in March of the major Vegas hotels, Tix closed its ticket booths, laid off most of its employees and took other steps to reduce operating costs. “While hotel properties have recently reopened, shows, attractions, tours and most dining have remained closed,” the company said in a statement. “We will continually monitor the Las Vegas marketplace to determine when and if we will be able to commence operations again.” Tix reported results on Thursday. Shares of Tix (TIX) closed Monday down nearly 2 cents, or 1.5 percent to 16 cents on the over-the-counter market.

Featured Articles

Related Articles