up for Station Casinos - 19th February 2015
Casinos reported revenue of US$333.7m for the fourth
quarter, up 2.2 per cent from the same quarter in
the full year, Stations net revenue was $1.3bn,
a 2.8 per cent increase from the year before. Station
Casinos had earnings of $33.5m for the quarter, slightly
less than the $ 3.8m of one year before. For the year,
the companys net income was $83.3m, compared
with a loss of $104.4m in 2013.
reported revenue increases in every major operating
category for both the fourth quarter and full calendar
year in 2014. Casino revenue rose five per cent to
$234.9m for the fourth quarter and it rose 1.7 per
cent to $897.4m for the full year.
food and beverage revenue increased 5.3 per cent for
the quarter and 1.5 per cent for the year. Room revenue
increased 13 per cent for the quarter and 6.6 per
cent for the year. Other revenue increased 8.5 per
cent for the quarter and 4.6 per cent for the year.
Falcone, Stations chief financial officer, told
analysts in a conference call that improvements in
the Las Vegas economy seem to be spilling over into
better business for the company. It may finally
appear we have reached that inflection point we have
been discussing for several years, he said.
encouraging trends of growth in average hourly earnings,
in addition to lower gas prices, should continue to
have a positive impact on discretionary income. And
we believe the strength in our overall fourth quarter
spending may be a sign that our guests now have more
money to spend on gaming.
is investing $55m into improvements at Red Rock Resort
and Green Valley Ranch. Much of the work at Red Rock
has already been completed, and Falcone said Green
Valley will be finished this year. The companys
long-term debt at the end of the year was $2.1bn.