Hooters Casino Losses
Posted by Gambler on May 23rd, 2010 filed in Gambling, News

The first quarter of 2010 was not one of the easiest in recent memory for the Hooters casino-hotel . Despite being located in Las Vegas , the world capital of casinos and gambling , this resort is not immune to the economic difficulties affecting casinos worldwide. Duringthe months of January through April of this year's losses Hooters casino were $ 3.9 million.
In early 2009 the losses of the casino were located in similar figures: $ 4 million. Still, the gains obtained by operating net of casino just left $ 11.3 million (in the same period of 2009 these earnings were $ 13.3 million).
The owner of the casino and hotel , 155 East Tropicana , released figures that also compromise the continuity of the hotel of 696 rooms of the complex . During the first quarter of 2010 the profits generated by the hotel fell 7.8 percent over 2009 figures.
Moreover, the average price of the rooms of hotel also saw a significant decline, reaching $ 46 (after having been located at around $ 52 for several months). The hotel occupancy rate during this 2010 is ong> 86% (three percent more than in 2009).
“The company does not know for sure whether it can generate sufficient flow of money to enable it to meet the costs of losses for another year and have credit insurance, “sources said Hooters. If lending agencies expedite claims payment the casino might be in need to seek bankruptcy protection.
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