Aquarius Casino Resort Net Revenue Up for 3rd Consecutive Quarter
American Casino & Entertainment Properties LLC (“ACEP”), the operator of Aquarius Casino in Laughlin, and the Stratosphere and two Arizona Charlie's properties in Vegas, reported financial results for the second quarter ended June 30, 2015.
Consolidated Net revenues were $95.7 million for the second quarter of 2015 compared to $89.4 million for the second quarter of 2014, an increase of 7.0%. ACEP reported second quarter net income of $7.4 million for 2015 compared to net income of $1.7 million for the second quarter of 2014.
Of local interest, in Laughlin, at the Aquarius Resort, net Revenue increased for the third consecutive quarter. However, the increase of 2.4% for this most recent quarter was smaller than the two previous quarters of 11.9% and 10.3%. Occupancy was down, as was hotel revenue.
- Net revenues increased 2.4% in the second quarter of 2015
- Hotel revenue decreased 2.7%
- Occupancy decreased to 52.9%
- Casino revenue increased 3.1% due to increased slot and table revenue.
- Food and beverage revenue increased 2.4% due to a higher average check per cover.
* All statistics are compared to the second quarter of 2014
- Net revenues increased 11.1%
- Hotel revenue increased 20.3% due to a 5.7 percentage point increase in occupancy and a 12.9% increase in average daily room rates.
- Casino revenues increased 7.1% due primarily to increased slot and table games
- Food and beverage revenues increased 9.5% due to increased food and beverage covers.
- Tower revenue fell 2.3% due primarily to decreased Sky Jump admissions.
- Net revenues increased 4.9%
- Casino revenues increased 3.2% on increased slot coin-in and table games hold.
- Hotel revenues increased 20.8% due to increased occupancy at both properties and higher average daily room rates at Arizona Charlie's Decatur and food and beverage revenues increased 9.1% due to increased food covers.
Statistics were taken from the American Casino & Entertainment Properties quarterly press release of August 14, 2015 and can be viewed at:
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