Station Casino Losses

The Las Vegas gaming sector continues to slide and reports from Station Casinos second quarter aren’t helping matters.

The casino company reported that its net loss during the second quarter was $69.6 million. Though the company was able to emerge from bankruptcy this month with all properties intact and with business operating as usual, the loss represents a 6 percent decline compared to the second quarter in 2009.

In total, the casino’s second quarter revenues were $233.6 million. Some experts have predicted that the Las Vegas locals market, where most of the Station companies are located, will have a slower economic recovery than the Strip, where most of the city’s gaming sector is located.

The company filed bankruptcy protection a year ago after reporting $6 billion debt.

Some of Station’s more notable properties include Red Rock Resort, Palace Station, Boulder Station, the new Wild Wild West and Sunset Station.

Station’s reported downturn follows the pattern of many Las Vegas casinos, both those on the strip and off. Many casinos reported losses in the second quarter and while gaming revenue is rising in other parts of the country, Las Vegas is still struggling. Some analysts say that Vegas will be several months behind the projected upturn in other gaming sectors.