Ameristar Casinos Financial Information
| 3Q 2009 | 3Q 2008 | % Change | 2Q 2009 | |
|---|---|---|---|---|
| Revenue | $299.4 million | $321.4 million | -6.8% | $308.9 million |
| Net income | $14.5 million | $14.3 million | 1.4% | $14.3 million |
| Net income per share | 25 cents | 25 cents | Unchanged | 25 cents |
Las Vegas-based casino operator Ameristar Casinos reported relatively unchanged profit during the third quarter despite a drop in the company’s revenue.
The company said its net income for the quarter was $14.5 million compared to $14.3 million in the third quarter of 2008. Earnings per share remained flat at 25 cents during the year-over-year period.
Revenue fell 6.8 percent during the third quarter of 2009 to $299.4 million from $321.4 million in the same period of 2008.
Earnings before interest, taxes, depreciation and amortization declined 2.1 percent to $79.3 million during the third quarter of 2009 compared to $81 million in the same period of 2008.
Net income at Ameristar’s Jackpot, Nev., properties also remained relatively flat with $4.2 million in the third quarter of 2009 compared to $3.9 million in the same quarter of 2008. Net revenue decline slightly to $17.3 million in 2009 from $18.5 million in 2008.
Ameristar opened a 33-story, 536-room hotel and spa at its Black Hawk Casino in Black Hawk, Colo. on Sept. 29. The company said revenue increased 24.2 percent at its Black Hawk casino during the year-over-year period, prior to the hotel’s opening.
Ameristar owns eight casinos in Jackpot, Nev., Indiana, Colorado, Missouri, Iowa and Mississippi.
The company's stock added 55 cents, or 3.6 percent, to $15.92 in morning trading.
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