Holy Shit Dept: Riviera Profit Quadruples!
The owner of the Riviera hotel and casino reported that first-quarter profit quadrupled as business on the Strip soared.
Riviera Holdings Corp., which also owns a casino in Colorado, reported profit of $2.1 million or 18 cents per share compared with profit of $540,000 or 5 cents per share in the first quarter of 2004.
Revenue minus promotional costs rose 4 percent to $52.5 million.
Earnings before interest, taxes, depreciation and amortization -- a key profit indicator -- rose 9 percent to a quarterly record of $11.6 million. That figure doesn't include other costs such as equity compensation and development costs.
[ Further proof that Wynn aint gonna buy the joint, and that Tim & Tom may have missed the boat - Ed ]
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