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Hotel occupancy, revenue decline at Stratosphere13 August 2013The Stratosphere Casino Hotel and Tower's occupancy and revenue numbers took a hit during the second quarter. VEGAS INC reports that Stratosphere's net revenue fell 1.2 percent, primarily because rooms sold through the company's tour and travel segment fell a whopping 65.6 percent. American Casino & Entertainment Properties, operator of the Stratosphere in addition to Arizona Charlie's Boulder, Arizona Charlie's Decatur and the Aquarius Casino Resort, reported a 0.8 percent revenue increase from a year ago. The company offset the Stratosphere's declining hotel occupancy with stronger casino revenue at the Aquarius. Meanwhile, higher slot machine holds and bingo revenue led to a 2.6 percent increase in net revenue at the Arizona Charlie's properties. |