The Company's consolidated net revenues for the first quarter ended March 31, 2012 were approximately $318 million, an increase of 8.4% compared to the prior year of $293 million.
Consolidated EBITDAM for the first quarter was $97.8 million, an increase of 20.9% compared to the prior year of $80.8 million. As a result, the Company posted an EBITDAM operating margin of 31.1% as compared to 27.8% in the prior year first quarter, a 330 basis point increase. “Our first quarter results were the best quarterly results we have achieved in three years. In addition to being able to drive significant revenue growth during the quarter, we were also able to bring 73% of the revenue increase to the bottom line,” said Falcone.
Station owns and operates Red Rock Casino Resort Spa, Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Sunset Station Hotel & Casino, Green Valley Ranch Resort Casino Spa, Santa Fe Station Hotel & Casino, Texas Station Gambling Hall & Hotel, Fiesta Rancho Casino Hotel, Fiesta Henderson Casino Hotel, Wildfire Rancho, Wildfire Boulder, Wild Wild West Gambling Hall & Hotel, Gold Rush Casino and Lake Mead Casino.