Planet Hollywood posts narrower loss
Revenue increases helped Planet Hollywood Resort trim its third-quarter loss from a year ago, a Friday filing with the Securities and Exchange Commission shows.
Planet Hollywood Resort lost $10.7 million in the three months ended Sept. 30, compared with a loss of $26.8 million a year earlier.
Third-quarter revenues rose 21.3 percent to $69.3 million, aided by a rebranding of the old Aladdin unveiled last November.
The resort trimmed its nine-month loss to $33 million from $57.2 million last year. Nine-month revenues increased 16.1 percent to $215.5 million from $185.5 million in 2007.
The property is privately held, but has to report its earnings due to an $860 million term loan.
Loss for Hooters Hotel widens in third quarter
Hooters Hotel reported a third-quarter net loss of $5.3 million, an increase from the $3.6 million reported last year, a Friday filing with the Securities and Exchange Commission shows.
An interest payment on debt drove the loss for the quarter ended Sept. 30.
The property’s quarterly revenue dropped 12.4 percent to $14.2 million from $16.2 million.
Nine-month revenue slipped 8.8 percent to $46.8 million from $51.3 million last year. The property, however, has trimmed its nine-month loss from $10.6 million to $5 million.
The property is privately held, but has to report its earnings due to $136.9 million in public debt.
Casino operator records $8 million quarterly loss
American Casino & Entertainment Properties posted a third-quarter loss of $8 million, driven by interest payments on the company’s $1.1 billion debt load, a filing Thursday with the Securities and Exchange Commission shows.
Expenses related to the company’s buyout in February swung it to a loss of $10.4 million in nine months ended Sept. 30 from a $33.2 million net income in the similar period in 2007.
The company’s third-quarter revenue slid 3.4 percent to $105.7 million from $109.4 million.
American Casino, which is privately held by a Goldman Sachs affiliate, owns the Stratosphere and both Arizona Charlie’s hotel-casinos in Las Vegas and the Aquarius in Laughlin.
Treasury prices higher after retail sales news
Treasury prices rose Friday after a downbeat retail sales report added to the market’s fears about the financial system.
The 10-year note rose 1.03 points to 100.22 and yielded 3.72 percent, down from 3.85 percent.
The 30-year bond rose 2.40 to 104.75 and yielded 4.22 percent, down from 4.36 percent.