Ameristar posts record EBITDA
Ameristar Casinos set fourth quarter and full-year records in 2009 for adjusted EBITDA, booking $73.1 million and $331.2 million, respectively.
The fourth quarter performance was a 6.1 percent increase over 2008. EBITDA margin of 25.1 percent also set a record.
The company attributed the results principally to revenue growth at Ameristar Black Hawk in Black Hawk, Colo., regulatory improvements in Missouri and improved operating efficiencies company-wide.
Consolidated net revenues for the year were $1.22 billion, a 7.9 percent increase. Ameristar also significantly narrowed its net loss year-over-year from $130.7 million, or $2.28 per diluted share, to $4.7 million, or eight cents per diluted share.