Tropicana Las Vegas Hotel and Casino Inc. on Friday reported a smaller first quarter loss as business picked up thanks to the completion of remodeling work.
The company lost $9 million, down from $9.9 million in the year-ago quarter.
Net revenue grew 28 percent to nearly $16.7 million – growth the company attributed to the completion of a remodeling of its casino, renovation of more than 1,300 rooms and suites and opening of Café Nikki.
The company said casino revenue of $7.2 million was up 12 percent, food and beverage revenue soared 51 percent to $3.9 million and room revenue also increased 51 percent to $6.6 million.
The hotel on the Las Vegas Strip said the average daily room rate of $61 was up from $54 while occupancy of 77 percent was up from 68 percent.
Business is expected to pick up further when the Club Nikki and Nikki Beach Club restaurant and nightclub opens later this month.
The property, spun out of the Tropicana Entertainment Holdings LLC bankruptcy in 2009, said in its quarterly financial report it’s also working on a new design for outdoor signage and its façade, as well as a spa that would be funded and operated by an outside operator.