American Casino & Entertainment reported growth across the board during the second quarter, with 5.1 million in revenues for the second quarter.
It’s the 10th straight quarter American Casino reported revenue gains. It also has reported increased cash flow nine of the past 10 quarters.
American Casino operates the Stratosphere and two Arizona Charlie’s casino in Las Vegas, plus the Aquarius in Laughlin.
It took in $12.3 million in net income, up from $7.4 million in net income from $102.6 million in gaming revenues during the second quarter last year.
American Casino said it took in more from slots, and enjoyed relatively high occupancy rates during the quarter, plus increased spending on food and beverage among patrons for the second quarter, which ended June 30.
The Stratosphere posted a 3.1 percent gain in net revenue from last year, while hotel revenue also netted a 3.1 percent gain, mostly due to room rates averaging 3.4 percent more than a year ago.
Food and beverage revenues were up 6.1 percent and slots revenues rose by 4.1 percent.
Those increases offset a 10.3 percent decline in revenues from the tower operations, including a 5.3 percent decrease in visitation, and an 8.5 percent reduction in spending by each tower visitor.
At its two Arizona Charlie’s properties, American Casino reported a 0.1 percent revenue decline, due to decreased revenues from bingo, race, and sportsbook operations. Increased slots revenues largely offset those declines.
At the Aquarius in Laughlin, food and beverage revenue was up by 8 percent, casino revenue by 1.7 percent, and hotel revenue by 8.5 percent, compared to the second quarter of 2015.
The revenue increases come after American Casino filed to deregister itself as a publicly traded firm. American Casino already filed similar documents in Nevada.
