Aliante Station reports $1.1 million first quarter profit
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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