MontBleu’s parent company reports $2.7 mil. quarterly loss
By Steve Green, Las Vegas Sun
Casino operator Tropicana Entertainment Inc. of Las Vegas reported a second quarter loss Tuesday as business deteriorated at its properties in Atlantic City and Nevada.
The company, controlled by investor Carl Icahn, said it lost $2.7 million vs. a loss of $1.6 million in the year-ago quarter.
Net revenue of $145 million was down from $164 million.
Tropicana has two hotel-casinos in Laughlin in Southern Nevada and one, the River Palms, has seen business decline due to road construction on the main casino strip there.
Tropicana said that citywide, Laughlin casino revenue fell 7.3 percent in the quarter vs. 2010’s second quarter because of the construction, “continuing poor economic conditions and reduced consumer discretionary spending.’’
The company’s property in Stateline, the MontBleu Casino Resort & Spa, has similarly been hurt by the slow economy.
Overall, the Nevada properties generated net revenue of $29.3 million, down 6.6 percent.