Wednesday, April 29, 2009 | 8:49 a.m.
Ameristar Financial Information
| 1Q 2009 | 1Q 2008 | % Change | 4Q 2008 | |
|---|---|---|---|---|
| Revenue | $315.8 million | $324.8 million | -2.8% | $293.6 million |
| Net income | $29.9 million | ($60.9 million) | -- | ($101 million) |
| Net income per share | 52 cents | ($1.07) | -- | ($1.77) |
Ameristar Casinos reported today a net income of $29.9 million, or 52 cents a share, for the first quarter of 2009 compared to a net loss of $60.9 million, or $1.07 a share, in the comparable period of 2008.
The Las Vegas-based casino operator reported a 2.8 percent drop in net revenues from $324.8 million in the prior-year quarter to $315.8 million in the first quarter of 2009, as a result of the economic downturn and competition in the Indiana and Mississippi market, the company cited.
Earning before interest, taxes, depreciation and amortization jumped 19.6 percent to $95.8 million compared to $80.1 million in the 2008 first quarter.
Ameristar owns eight casinos in Jackpot, Nev., Indiana, Colorado, Missouri, Iowa and Mississippi.
Ameristar shares jumped 26 percent to $18.84 after the company reported first quarter results.
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