Station Earnings: Best In 5 Years
LAS VEGAS (AP) — Station Casinos saw its best quarter since 2009 as Las Vegas’ economy recovers and as Station’s locals casinos benefits from strong convention business on the Strip.
The Las Vegas Review-Journal reports net income for the quarter ending March 31 was $15 million. That’s a turnaround from the same time last year, when the chain lost $141 million.
Net revenues of $329 million were up 6 percent.
Station recently announced a $55 million project that includes renovating suites and spas at its upscale Green Valley Ranch and Red Rock Resort properties. The overhaul will also add or rework nine different restaurants at the two casinos.
Officials say online gambling is off to a slow but promising start. They don’t expect their Ultimate Gaming business will make a profit this year.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.