Casino News

Ameristar Casinos post revenue decline

2009-02-11 13:10:52

Ameristar Casinos' net revenues fell three per cent to $293.6 million during 2008, it has emerged.

Previously $302.8 million, the figure was attributed to the United States' recession and the Colorado smoking ban.

The organisation also revealed in its fourth-quarter 2008 results an operating profit loss of $148.1 million, along with a net decrease of $1.77 per diluted share on a generally accepted accounting principle basis.

Commenting on the figures, Gordon Kanofsky, chief executive and vice-chairman, said the company expected to face "continued revenue challenges" in 2009 as a result of the current economic climate.

He added: "However, our proactive efforts to manage marketing expense, adjust our workforce and achieve other operational efficiencies have helped to significantly improve our margins."

Founded in 1954 and based in Las Vegas, Ameristar Casinos has been publicly held since November 1993.

It operates six venues in Iowa, Mississippi, Missouri and Nevada.