Station Casinos reports rise in net revenue, cash flow growth

12 Aug 2015

By Richard N. Velotta

Las Vegas' robust economy has treated Station Casinos well.

The locals casino company reported a 4 percent increase in net revenue over last year and its 17th straight quarter for growth in earnings before interest, income tax, depreciation, amortization and management fees for the second quarter that ended June 30.

Marc Falcone, executive vice president and chief financial officer of Station, said a disciplined growth strategy and a booming Southern Nevada economy contributed to Station's best second quarter since 2008.

The company reported net revenue of $337.8 million for the quarter compared with $321.7 million for the same quarter a year ago. Net income attributable to Station properties was down with $29.8 million reported this year compared with $55.4 million in the same quarter in 2014.

Falcone said population and employment gains have benefited the company.

"Not only has Las Vegas replaced the majority of the jobs that were lost, today's job base is more diverse than it was back in 2007 and forecasts project that the majority of sectors will continue to produce steady growth," Falcone said Tuesday in a conference call with investors.

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	Station Casinos reports rise in net revenue, cash flow growth 12 Aug 2015 By Richard N. Velotta <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> Las Vegas' robust economy has treated Station Casinos well. The locals casino company reported a 4 percent increase in net revenue over last year and its 17th straight quarter for growth in earnings before interest, income tax, depreciation, amortization and management fees for the second quarter that ended June 30. Marc Falcone, executive vice president and chief financial officer of Station, said a disciplined growth strategy and a booming Southern Nevada economy contributed to Station's best second quarter since 2008. The company reported net revenue of $337.8 million for the quarter compared with $321.7 million for the same quarter a year ago. Net income attributable to Station properties was down with $29.8 million reported this year compared with $55.4 million in the same quarter in 2014. Falcone said population and employment gains have benefited the company. "Not only has Las Vegas replaced the majority of the jobs that were lost, today's job base is more diverse than it was back in 2007 and forecasts project that the majority of sectors will continue to produce steady growth," Falcone said Tuesday in a conference call with investors. Copyright GamingWire. All rights reserved.