Stratosphere posts 8.3% boost in Q1 revenue on hotel gains
Total revenue reached US$89 million. In addition to the Stratosphere, American Casino operates the two Arizona Charlie’s casinos and Aquarius in Laughlin. The Stratosphere’s total revenue increased 8.3 percent, which included a nearly 20 percent increase from hotel revenue and a 2.3 percent increase in casino revenue.
During the quarter, the Stratosphere reached a verbal agreement in March on a new collective bargaining agreement with Culinary Workers Local 226 and Bartenders Local 165. American Casino said it expects employees will ratify the agreement.
The company said revenue increased less than 1 percent at the two Arizona Charlie’s properties while the Aquarius saw revenue decline 2 percent. The company said expenses for repair and maintenance projects at the casino cost roughly US$882,000.
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