Aliante Station reports $1.2 million quarterly profit
14 August 2012
Aliante Station hotel-casino in North Las Vegas on Tuesday reported a second-quarter profit, as revenue from the casino, hotel, restaurants and bars improved.
The 202-room property cost $662 million to develop and opened in late 2008. It was spun off to investors in its debt last year as part of the Station Casinos Inc. bankruptcy. Station Casinos has continued to manage the property.
Now, encumbered by just $50.3 million in debt, Aliante Station is regularly reporting profits.
For the quarter ended June 30, Aliante Station earned $1.2 million vs. a loss of $3.7 million in the year-ago quarter. Net revenue grew from $17.3 million to $18.7 million.
Quarterly highlights included gross casino revenue growing 9.2 percent to $14.2 million, food and beverage revenue up 7.4 percent to $3.6 million and room revenue growing 8.2 percent to $1.6 million.
Rooms were rented for an average of $80 per day, equal with last year. But hotel revenue grew thanks to occupancy increasing from 89 percent to 94 percent.
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