Gaming and entertainment company Ameristar Casinos Inc. (ASCA) reported Wednesday a narrower loss for the fourth quarter, reflecting lower impairment charges for the recent quarter. While adjusted earnings per share was a cent lower than estimates, net revenues came in slightly higher than analysts expectations.
The Las Vegas, Nevada-based Ameristar's fourth-quarter net loss narrowed to $63.31 million or $1.10 per share from $101.10 million or $1.77 per share in the same period last year. Adjusted earnings per share dropped to $0.11 from $0.20 prior year. The adjustments include impairment loss on East Chicago intangible assets of $1.15 per share for the recent quarter and $1.92 for the same period last year.
On average, 11 analysts polled by Thomson Reuters expected the company to report a profit of $0.12 per share for the quarter. Analysts' estimates typically exclude special items.
Loss from operations more than halved to $72.05 million from $147.87 million for the year-ago period.
Net revenues decreased to $291.28 million from $293.64 million a year ago. Analysts expected revenue of $291.03 million for the quarter.
Excluding promotional allowances, the company's total revenues for the fourth quarter rose modestly to $364.02 million from $355.27 million in the year-ago period.
The company recorded a non-cash impairment charge of $111.7 million or $1.15 per share for the goodwill related to the company's September 2007 East Chicago property acquisition. The impairment charge was due to the permanent closure of the bridge that has significant negative impact on the forecasted financial results for the property, the company said.
On segmental basis, the company's major revenue contributing segment Casino segment revenues rose to $305.04 million for the recent fourth quarter from $296.29 million a year earlier and revenues from the company's smaller segment, rooms revenues rose to $19.33 million from $13.83 million last year.
On the other hand, food and beverage revenues came down to $31.97 million from $36.47 million a year-ago.
Full year net loss narrowed significantly to $4.67 million or $0.08 per share from $130.67 million in the year earlier period. However, on an adjusted basis, earnings per share rose to $1.22 from $1.18 last year. Net revenues for the full year came down to $1.21 billion from $1.27 billion a year earlier.
Analysts expected the company to report earnings of $1.22 per share on revenues of $1.22 billion for the full year.
ASCA is currently trading at $15.78, down $0.49 or 3.01% on a volume of 1.43 million shares on the Nasdaq.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.