Station Casinos posted a third-quarter net loss of $23.4 million driven by lower revenues and increased interest expenses related to its large debt load, according to a morning filing with the Securities and Exchange Commission.
The news comes a day before the locals gaming company opens the $662 million Aliante Station, the company’s 11th hotel-casino.
Revenues for the third quarter ended Sept. 30 fell 10.5 percent to $317 million from $354.1 million for the same time last year. Revenues the first nine months of 2008 slipped 7.4 percent to $1.01 billion from $1.09 billion last year.
The net loss is a swing from the net income of $3.7 million posted last year.
The company posted a net loss of $75.7 million for the first nine months of 2008, a sharp contrast to the $41.8 million net income posted through September last year.