VEGAS INC archives
Revenue improved and the loss narrowed in the second quarter for Las Vegas-based Cannery Casino Resorts LLC.
Revenue of $134.6 million in the quarter ended June 30 was up from $129.9 million in 2010’s second quarter, data filed Monday show.
The net loss of $2.77 million was down from $4.05 million.
Cannery has hotel-casinos in North Las Vegas and Las Vegas and has been managing the Rampart Casino at the JW Marriott Las Vegas Resort & Spa in Summerlin.
The Rampart management contract expires in March and JW Marriott doesn’t intend to renew it. Instead, JW Marriott will manage its own casino with an assist from Las Vegas-based Affinity Gaming (formerly Herbst).
Cannery also has The Meadows racetrack and casino in Washington County, Pa.
Cannery’s revenue in the second quarter increased primarily due to the addition of table games at The Meadows, which contributed revenue of $7.6 million. Slot revenue there fell $2.9 million because of economic weakness and competition from the Rivers Casino in Pittsburgh, the regulatory filing said.
Net revenue for the Las Vegas-area properties was flat, the filing said.
Cannery’s numbers were reported in a regulatory filing by an affiliate of Cannery investor Oaktree Capital Management L.P. of Los Angeles.