Parent of Stratosphere, Arizona Charlie’s narrows quarterly loss

The company that owns the Stratosphere and the two Arizona Charlie’s casinos said Tuesday it reduced its fourth-quarter net loss.

American Casino & Entertainment Properties said it lost $2.8 million in the fourth quarter that ended Dec. 31, compared with a net loss of $8.3 million in the same quarter of 2012.

The company said net revenue for the quarter was $78.3 million, a less than 1 percent decrease from the same quarter a year ago.

For all of 2013, American Casino saw net revenue decline less that 1 percent to $337.4 million, while its overall net loss of $15.1 million compared to a net loss of $15.8 million in 2012.

The Stratosphere contributed 44 percent of the company’s revenues in 2013.

American Casino also operates Arizona Charlie’s on the Boulder Highway and Decatur Boulevard and the Aquarius in Laughlin.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871.Follow @howardstutz on Twitter.


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