Ameristar Casinos said Thursday new competition in several regional markets caused a decline in fourth-quarter revenues and profits.
The Las Vegas-based casino operator, which is being bought by rival Pinnacle Entertainment for an enterprise value of $2.8 billion, released results for the quarter ended Dec. 31. The company did not hold an earnings conference call.
Ameristar said its net income was $1.2 million, or 4 cents per share, in the quarter, compared with net income of $7.4 million, or 22 cents per share, a year earlier.
Revenues declined 2.5 percent to $288.8 million from $296.2 million.
The company said revenues from its Kansas City, Mo., and East Chicago, Ind., combined for 88.1 percent of the company’s drop in overall net revenues. Both markets experienced increased competition.
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