News From The Casino Scene

Station Casinos revenues increase but with net losses

Station Casinos revenues increase but with net losses

Southern Nevada's largest casino corporation, Station Casinos LLC, has reported net losses of $4.7 million for the 3rd quarter of 2013 in comparison to the $7.8 million profit from the same quarter in 2012.

Despite the losses, Station Casinos has experienced good business opportunities from its land-based casinos in Northern California and their online operations both in Nevada and New Jersey.

Station Casinos posted revenues in the amount of over $300 million, compared to the $295 million for the third quarter of 2012. From January until September 2013, Station Casino's revenues were of $933 million which is an increase from the $926 million reported by the company in the first 9 months of 2012.

According to Marc Falcone, executive vice president, CFO and treasurer of Station Casinos, “Despite the soft revenue environment, Station Casinos reported revenue increases across all major departments and generated double-digit growth in adjusted earnings before interest, taxes, depreciation, amortization, and management fees. This is our 10th consecutive quarter of gains in adjusted EBITDAM, our continued focus on efficiently managing our business has clearly improved our operating results.”

All rights reserved.