American casino operator Pinnacle Entertainment Incorporated recently declared that the firm would consider acquiring a property in the Las Vegas area if they get to strike a right deal however they at present are happy with its geographically diverse portfolio. In a recent review to Las Vegas Journal newspapers Chief Executive Officer of Las Vegas based Pinnacle Entertainment Incorporated, Anthony Sanfillipo on Thursday conference call with investors regarding the company’s third quarter financial results.
At present Pinnacle Entertainment Incorporated operates 16 casinos in ten different states including the Horseshu Hotel And Casino and Cactus Pete’s Resort Casino in the small northern Nevada border town of Jackpot and the group also has a funnel arrangement with MGM Resorts International for those wanting a taste of the action in Las Vegas. Anthony Sanfillipo also explained that now the firm is into expansion mode and is planning to growing its property promotions strategy while most of its customers enjoy “being fish in small ponds.”
In context to what Sanfillipo said he declared that a number of customers at the Ameristar Casino Resort and Spa in Black Hawk, Colorado took promotional trips to his firm’s Boomtown Casino New Orleans property last weekend in order to follow Denver Broncos NFL franchise as it took over the New Orleans Saints. As per their financial figures for the three months to end of September, Pinnacle Entertainment Incorporated reported a 2.9% increase year on year in net revenues to $595.1 million, which included a contribution of $15.6 million from the newly acquired gaming operations at The Meadows Racetrack and Casino in Western Pennsylvania.
The groups third quarter results saw an improve of 3.7% year on year to $155.4 million although it reported a net loss from continuing operations of $532,000 versus income of $13.4 million for the same period in 2015. The group explained that this deficit was a result of two weeks of closure of its L’Auberge Casino And Hotel Baton Rouge in August due to heavy rain and flooding while its Ameristar Casino Resort And Spa St Charles in Missouri had moreover experienced reduced traffic as a consequence of construction at a nearby freeway interchange.
CEO of Pinnacle Entertainment Incorporated, Sanfilippo said, “Those three days of rain in August virtually stopped the operation,” “At our company, we watch out for our team members, our guests and our stakeholders.” He added, “We see a great future with [The Meadows Racetrack And Casino] and for our company,” “It’s started off well.”
