Regional casino operator Ameristar Casinos Inc. (ASCA) saw its profit nearly double during the company’s first quarter of operation.
The company said its net income rose to $41.4 million or $1.21 per share during the reported period. In 2011, the quarterly income was $21.8 million or $0.37 per share.
Helping the company’s profit was a $15.7 million reduction in income tax provisions, the company said.
As for revenue, they increased 1.1 percent to $312.1 million.
A company spokesman noted the company was enthusiastically looking forward to a development in Lake Charles, La. The property was acquired from longtime gaming executive Dan Lee. The development is expected to cost some $500 million.
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