Tropicana Renovations Show Little
Tropicana renovations have been fun to watch and are probably fun to be a part of. However, in the short term they’re having very little financial effect as people are still discovering (re-discovering) the casino. In fact, the casino is losing more money than they were a year ago.
Net revenue of $13 million was down from $18.8 million during the third quarter of 2009 and the property lost $11.3 million vs. a loss of $9.6 million in the year-ago quarter.
Renovations are still only about halfway done and from everything I read they are fantastic. Still, one has to wonder if they will ever have a positive effect on this property that was dying a year ago. I hope and expect only good in the future as it’s hard to get worse than death.