Stratosphere owner increases quarterly profits and revenue

Stratosphere owner American Casinos & Entertainment Properties quadrupled its net income in the second quarter, saying the company was driven by higher revenue across all business segments.

American Casino, which also owns the two Arizona Charlie's properties and the Aquarius in Laughlin, said its net income for the quarter that ended June 30 was $7.4 million compared with $1.7 million in the same quarter last year.

Overall revenue increased 7 percent to $95.7 million.

At the Stratosphere, total revenue increased 11.1 percent to $45.9 million, which included a 20.3 percent jump in hotel revenue and a 7.1 hike in gaming revenue. The two Arizona Charlie's properties grew revenue a combined 4.9 percent and the Aquarius saw revenue jump 2.4 percent.

American Casino is not publicly traded, but has publicly held debt.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.