Revenue and profit up for Stratosphere parent company

American Casino said in a news release that its hotel and food and beverage divisions drove the growth through higher occupancy, average daily room rates, higher resort fees and higher food covers. It had earnings of USD 600,000, compared to a US$ 9.4 million loss during last year’s third quarter.

As with last quarter, nongaming revenue was key to the company’s revenue growth. Companywide, casino revenue increased 1.3 percent from last year to US$ 47.7 million, while hotel revenue increased 8 percent to US$ 19 million, and food and beverage revenue increased 9 percent to US$ 18.8 million.

A similar story played out at the Stratosphere, where revenue rose 6.2 percent from last year. Gaming revenue increased slightly compared to last year by 0.3 percent, which the company said was mainly due to higher slot hold. Hotel revenue, meanwhile, increased 7.9 percent from last year, while food and beverage revenues increased 11.1 percent and tower revenue increased 7.3 percent.

At Arizona Charlie’s, revenue increased 2.8 percent compared to the same period last year. Driven by increased bingo volume and hold, casino revenue rose 2.1 percent. Hotel and food and beverage revenues increased at both Arizona Charlie’s locations.

In Laughlin, the Aquarius’ revenue increased 2.5 percent from last year’s third quarter. Due to more revenue from slot machines, gaming revenue rose by 1.4 percent compared to last year. The average daily room rate increased 5.5 percent, while occupancy decreased 0.4 percent.

American Casino’s consolidated total debt was US$ 333.3 million at the end of the quarter.