L’Auberge, Delta Downs enjoy increase in revenue
Last Modified: Friday, July 27, 2012 2:39 PM
By Eric Cormier / American Press
Two gaming companies with operations in Calcasieu Parish experienced revenue growth during the second quarter.
Officials with Pinnacle Entertainment reported record dollar increases at L’Auberge in Lake Charles. Boyd Gaming pinpointed Delta Downs as one of its best moneymakers, too.
During the second quarter, Pinnacle reported an increase of $8.9 million, or 3.1 percent, boosting revenue to $298.3 million.
L’Auberge saw revenues rise $4.8 million for the second quarter, increasing the facility’s take to $100.9 million.
The company’s operations in New Orleans and Boomtown Bossier City experienced decreases in revenue.
“We are pleased to report solid 2012 second-quarter operating results,” Pinnacle President and CEO Anthony Sanfilippo said in a news release. “As a whole, the company delivered its tenth consecutive quarter of simultaneous revenue.”
He said L’Auberge “continues to exceed expectations with records in revenue and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) achieved in the 2012 second quarter.”
The company will open L’Auberge Baton Rouge on Aug. 29, and “the project remains on budget and will be another terrific gaming entertainment destination for Pinnacle Entertainment,” San Filippo said.
Boyd officials reported second-quarter net gains of $615.2 million, which was an increase from $574 million during the same period in 2011.
During the second quarter, Boyd observed a net income of $1 million, compared with a net loss of $3 million during the same time last year.
“The results of the second quarter clearly were not in line with our expectations. Starting in May, we began to see some weakness in economic trends, both locally and nationally,” Boyd President and CEO Keith Smith said during a conference call.
“Manufacturing, job creation and consumer spending all started to slow down. The slowdown in economic activity clearly showed up in our business in May and June and impacted our overall results.”
Boyd officials reported that gaming properties in the Midwest and South fared better financially than its other assets around the country.
“In our Midwest and South region, results were more encouraging. We maintained or grew market share in every market we operate,” Smith said. “This has been the strongest region of the country for the domestic gaming industry for some time now, and it is also our most robust business segment.”
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