The Tropicana Las Vegas hotel, is one of the few hotels that his reporting a large boost in their revenue this year. With more than 1300 rooms on the property, the company has stated that their revenue grew $1 million from $24.4 million to $25.4 million, and the company was also able to cut down on their net loss from $9.4 million down to $6 million.
The company stated that they believed that the large gain was due to a 7% overall increase in revenue that came from the casino, on a year-to-year basis. The company also saw as much as a 20% increase in the amount of revenue that was generated from their hotel rooms and hotel related activities. However, there were some downsides to the announcements as well. The company also announced that their food and beverage revenue fell 13% to a total of $6.6 million. However, things are looking up because the company does have a number of activities planned in the coming months that should help to boost their overall food and beverage revenues.
The hotel room occupancy stayed fairly flat for the company, right around 93% overall. The daily rate for rooms jumped $13 over the previous year to $79, which helped them to increase their revenue in this portion.
The Tropicana is one of only a few hotels that has seen increased revenues since the financial collapse of 2008, which crippled some of the larger casinos throughout the area. Since that time, casinos have only hoped to make small improvements in their overall revenues, while still taking heavy losses, in hopes of being able to turn it around when the economy begins to turn around and Vegas begins to see more tourism.
Despite all of the troubles that casinos and other gambling institutions have had as of late, it appears that a number of companies have been able to trudge through these problems, including the Tropicana which continues to see increases in revenue in various aspects of their business. Their overall revenue has also increased, making the Tropicana one of the most successful Las Vegas casinos in recent years.