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January 28, 2015

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Station Casinos narrows losses in third quarter

Station Casinos properties

The clock tower of the Boulder Station hotel-casino obscures the resort's 15-story tower. Boulder Station has won three Launch slideshow »

Station Casinos LLC, the controlling company for the Las Vegas-based locals casino giant, narrowed its losses in the third quarter that ended Sept. 30 according to documents filed today with the federal Securities and Exchange Commission.

The company reported a loss of $19.2 million on net revenue of $282.4 million for the quarter compared with a loss of $275.2 million on net revenue of $267.3 million for the same period a year earlier.

The company’s 2010 third-quarter figures are from two predecessor companies, Station Casinos Inc. and Green Valley Ranch Gaming LLC, a partnership that operated the Henderson property with the Greenspun family, which owns the Las Vegas Sun and its affiliate media operations.

Station emerged from Chapter 11 bankruptcy protection on June 17 and the third quarter was the first full quarter of financial results since the court approved the bankruptcy.

The new company now owns Green Valley Ranch and most of the other Station properties in the valley except Aliante Station in North Las Vegas, which Station manages.

Station showed improvements in casino revenue, food and beverage and hotel rooms for the quarter and cut operating costs and expenses in several areas.

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