Las Vegas Sun

March 29, 2024

Stratosphere Corp. earnings

COMMENTS: In a newsletter to investors, CEO Lyle Berman said company officials are excited about the favorable publicity the Stratosphere Tower project is receiving in the media. Berman outlined the company's planned opening of the property Tuesday and subsequent phased openings of retail shops and an aquarium over the next two years. The company listed assets of $433.9 million in 1995. In the company's statement of operation, just over $8.3 million in income was reported in interest with other revenues coming from rents on property owned. The bulk of costs and expenses was in debt service, about $12 million, with other costs for payroll, professional fees, licenses and fees and general administrative costs. (Nasdaq: TOWV)

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