Tropicana Las Vegas revenue up on room renovations, restaurant and club openings
The 2011 quarter’s net loss of us$ 11 million was down from the year-ago period’s loss of us$ 11.4 million. With the reopening of 1,375 rooms and suites after remodeling and the opening of restaurants and clubs, business picked up but expenses increased for casino, room and food and beverage operations, and for depreciation and amortization.
The Tropicana, in its filing, said a us$ 147 million capital improvement project that began in July 2009 had been completed and that it helped drive a 33 percent increase in casino revenue in 2011 along with a 96 percent increase in food and beverage revenue thanks to the opening of restaurants and clubs.
Room revenue increased 60 percent last year as more rooms were in service, occupancy improved and the average daily room rate increased from us$ 55 to us$ 69.
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