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Aliante Station reports $1.1 million first quarter profit

18 May 2012

By Chris Sieroty
Aliante Station resort reported a first-quarter profit on Tuesday, which the property in North Las Vegas attributed to the success of its current marketing programs.

The property, which was turned over to creditors as part of the Station Casinos Inc. bankruptcy last year, said it earned $1.18 million, compared with a loss of $7.16 million in the first quarter of 2011.

Net revenues rose to $18.9 million from $17 million in the first quarter of 2011.

The property benefited from a 13 percent increase in casino revenues to $14.5 million, while food and beverage jumped 6.4 percent to $3.4 million and room revenues gained 8.8 percent to $1.6 million.

"The increase in casino revenues is due primarily to a 10.3 improvement in slot revenues and a 25.2 percent improvement in table games revenue due to the success of current marketing program," the property's owner, ALST Casino Holdco LLC, said in a quarterly filing with the Securities and Exchange Commission.

Occupancy at the luxury hotel increased from 91 percent to 93 percent with the average daily rate climbing $2 to $89 and revenues per available room gaining $4 to $83.

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