Stratosphere operator reports 4th-quarter loss of USD 2.8 million

The revenue is us$ 78.3 million (down 0.9 percent from fourth quarter 2012). Revenue was down slightly in casino, hotel, and food and beverage categories. The biggest revenue decline occurred at the Aquarius in Laughlin, down from us$ 21.2 million to us$ 20.4 million.

It had a loss of us$ 2.8 million (up 66.3 percent from fourth quarter 2012). Overall, losses narrowed for ACEP in 2013, with a total loss of us$ 15.1 million compared with a loss of us$ 15.8 million the previous year.

It means that the company continued to tread water in 2013 and the fourth quarter was no different.

Stratosphere’s net revenue for the quarter was unchanged, while net revenue per room increased. The Stratosphere reported a decline in its average daily room rate, from us$ 51.34 to us$ 48.59. The hotel’s occupancy rate was off 4.2 percentage points to 70.4 percent.

The company’s Arizona Charlie’s properties had higher room rates than the comparable 2012 quarter, with the Decatur property at us$ 45.51 a night compared with us$ 42.09 in the year-ago quarter, and the Boulder location at us$ 42.08, up from us$ 40.11. Occupancy rates fell 1.5 percentage points to 61.5 percent at the Decatur property but were up 0.8 points to 42.9 percent at the Boulder property.

It was a mixed bag on the gaming side, with slot win up at the Stratosphere and Arizona Charlie’s Boulder but down at the Arizona Charlie’s Decatur and the Aquarius. Table win was down at the two Arizona Charlie’s properties and the Aquarius and unchanged over the last quarter at the Stratosphere.