Aquarius Resort Casino Revenue Up Again
American Casino & Entertainment Properties, the operator of Aquarius Casino in Laughlin, and the Stratosphere and two Arizona Charlie's properties in Vegas, reported (on May 15, 2015) that company quarterly revenue was up 6.1% in the first quarter of the year. In addition profits nearly doubled for the first quarter.
They reported $94.4 million in net revenuee in the quarter that ended March 31st, compared to $89 million in the same period a year ago. Profits for the same quarter were $8 million, compared to $4.5 million in the same first quarter of 2014.
By property the revenue numbers were up the following percentages.
Stratosphere up 4.7%
Arizona Charlie’s up 2.1%
Aquarius up 11.9%
This is the second consecutive double digit quarterly revenue increase for the Aquarius Resort Casino. Last quarter they reported an increase of 10.3%.
The revenue increase at all the properties was driven by increased slot machine revenue, higher hotel occupancy and increases in restaurant activity. Increased average daily room rates and resort fees also contributed.
At the Aquarius - Hotel revenue increased 13.2% in the first quarter of 2015 as ADR increased 4.6% and occupancy increased to 55.7% in the first quarter of 2015 compared to 51.4% in the first quarter of 2014. Casino revenue increased 10.9% due to increased slot and table revenue. Food and beverage revenue increased 6.4% due to increased covers and a higher average check per cover.
Overall, American Casino & Entertainment Properties cash flow grew to 22.2 million (up 18.7%).
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Statistics were taken from the American Casino & Entertainment Properties quarterly press release of March 26, 2015 and can be viewed at:
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