Net loss from .3 million to .8 million
American Casino and Entertainment Properties, operator of the Stratosphere in Las Vegas, the Aquarius in Laughlin, Nevada, and two Arizona Charlie’s casinos, expects to cut its net loss for the fourth quarter of 2013.
According to the Las Vegas Review-Journal, ACEP anticipates its net loss will be $2.8 million, compared to $8.3 million for the same quarter a year ago. Net revenues will be $78.3 million, a decline of less than 1 percent over the same quarter of 2012.
The company released its results early to try and get a deal on its interest rates. ACEP said its net revenues from the Stratosphere were $35.5 million for the quarter, unchanged from the previous year. Net revenues from the two Arizona Charlies casinos increased 1.4 percent, and net revenues from the Aquarius fell 3.8 percent.
For 2013 overall, ACEP expected to report net revenues of $337.4 million, a decline of 7 percent, while an expected net loss of $15.1 would be a decline of 4.4 percent, the Review-Journal reported.
