PARADISE ISLAND, Bahamas — Kerzner will restate the results of its Kerzner International North America Inc. unit for 2000, 2001, and 2002, the company said last week in a filing with the Securities and Exchange Commission.
Kerzner is restating the results because of accounting changes at Trading Cove Associates, a Connecticut general partnership in which Kerzner and Waterford Gaming LLC are each 50 percent general partners, according to the filing. The accounting adjustments are related to timing of recognition of certain liabilities owed to Kerzner, Waterford and their affiliates.
The Paradise Island, Bahamas-based company expects the unit’s restatement to be completed during the third quarter.
Source: Gaming Briefs, The Las Vegas Sun
