Net revenue grew by about .5 million to .3 million, with a net income of .3 million, during the final quarter of 2015, American Casino & Entertainment Properties (ACEP) reported.
It reported $84.8 million in net revenue and $200,000 in net income during the final quarter of 2014.
The improved numbers continue a happy trend for ACEP, which has reported eight straight quarters of improved revenues, and improved cash flow during seven of the last eight quarters.
The company operates the Stratosphere and two Arizona Charlie’s casinos in Las Vegas and the Aquarius casino in Laughlin, and reported a 5.3% increase in revenue and a nearly 16% increase in cash flow for the quarter at the Stratosphere, where most of its income is derived.
The Stratosphere’s net revenues rose by 13.8% and hotel revenue by 23%, while casino revenue rose by 16.6% and food-and-beverage by 8.6%.
APEC cited increased hotel occupancy rates and a rise in average daily room rates at the Stratosphere for significantly producing the improved financial results.
Hotel revenues were up by more than 20% at the two Arizona Charlie’s casinos, but the Aquarius posted a net revenue decline of 3.1%, due to lower occupancy rates and reduced casino play, APEC reported.
