American Casino & Entertainment Properties LLC owns the Stratosphere and Arizona Charlies in Las Vegas, as well as the Aquarius Resort Casino in Laughlin.
In their press release the company said all four properties had an increase in Revenue.
Of local interest, in Laughlin, at the Aquarius overall revenue was up 2.5%.
American Casino & Entertainment reported in their news release that overall gaming revenue at the Stratosphere in Vegas was fueled by higher holds on the slots. Is it probable to think this may be the same reason for the increase in the Aquarius?
Even though the statement released did not specify this, in our opinion it most likely is.
For those who like to see the numbers here are the 3rd quarter numbers/earnings:
Company Wide Revenue was up 4.1% to $87.9 million, from $84.4 million in the third quarter of 2013. American Casino & Entertainment Properties LLC attributed that increase to its hotel and food and beverage divisions due to higher occupancy, average daily room rates, higher resort fees and higher food covers.
Overall Earnings were $600,000, compared to a $9.4 million loss in the third quarter of 2013.
The numbers (from all properties company wide) show the breakdown and how non-Gaming revenue was drove the growth.
- Gaming (casino) revenue increased 1.3% from last year to $47.7 million
- Hotel revenue increased 8% percent to $19 million
- Food & Beverage increased 9% to $18.8 million.
Here is the breakdown by property or Casino:
Aquarius Resort Casino in Laughlin - Revenue was up by 2.5%
- Gaming (casino) revenue increased by 1.4%
- The company attributed this due to more revenue from slot machines.
- The average daily room rate increased 5.5%, while occupancy decreased 0.4%.
The Stratosphere - Revenue was up 6.2% overall
- Gaming (casino) revenue increased slightly by just 0.3% *The company said this was due to a higher hold on slot machines
- Hotel revenue increased 7.9%. This was due to a 2.2% increase in occupancy, a 0.2% increase in average daily room rates and a 32.4% increase in resort fees.
- Food & Beverage increased 11.1%
- Revenue from the Tower attractions increased by 7.3% due to increased ride and Sky Jump patronage
Arizona Charlie’s - Revenue was up 2.8%
- Gaming (casino) revenue increased 2.1% *The company said this was due to increased volume from Bingo and higher hold.
- Hotel revenue also showed moderate increases at both Arizona Charlie's locations due to higher average daily room rates.
American Casino’s Financial Statistics as of September 30, 2014:
• Cash $ 75.8 million
• Unrestricted Cash $ 67.6 million
• Consolidated Total Debt $ 333.3 million
• Consolidated Capital Expenditures for the four Fiscal Quarters ended September 30, 2014 $ 14.0 million
View the entire press release for the third quarter of 2014 here (a pdf file).
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All content and pictures are presented for informational and entertainment purposes. Numbers and statistics were obtained from the press release by ACEP (link above) and are the sole responsible of that company. Opinions stated remain our own. We are not affiliated with, nor receive any compensation from any of the properties or entities mentioned herein.