BUSINESS

Pinnacle Entertainment post record results; MGM Resorts enters deal with Ameristar Casinos; Everest Poker announce prize packages

TAGs: Ameristar Casinos, Everest Poker, MGM Resorts, Pinnacle Entertainment

pinnacle mgmresorts everestpokerPinnacle Entertainment today reported record results for its Fourth Quarter and Full-Year 2011 Results ending December 31, 2011.

In Q4 2011, revenues increased 3.8% year-on-year to $275.8 million.  Consolidated Adjusted EBITDA increased 22.9% by $11.6 million year-on-year to $62.2 million. For the full year 2011, revenues increased by 7.8% year-on-year to $1,141.2 million and Consolidated Adjusted EBITDA increased 18.0% year-on-year to $252.1 million.

For the full year 2011, operating income increased $76.4 million or 146.5% year over year to $128.6 million. Income from continuing operations increased $71.0 million year over year to $30.2 million from a loss of $(40.8) million in the prior year period.

President and chief executive officer of Pinnacle Entertainment, Anthony Sanfilippo, said: “As we move further into 2012, we look to build on our record 2011 performance and remain focused on driving shareholder value.¬† Through the evolution of our capabilities within our technology infrastructure, we believe 2012 will be another year of significant growth for our Company.”

 

MGM Resorts International and Ameristar Casinos today announced their strategic marketing relationship for the companies’ rewards program named MGM Resorts’ M life and Ameristar’s Star Awards/Plateau Players Club.

Beginning in mid-March, the strategic agreement allows targeted MGM Resorts‘ M life members to receive offers and benefits at Ameristar casinos and Ameristar’s Star Awards/Plateau Players Club members to receive offers and benefits at MGM Resorts’ properties in Las Vegas.

Jim Murren, Chief Executive Officer for MGM Resorts International, said: “With our Ameristar alliance, our members can enjoy the high level of experience they have at MGM Resorts’ properties in more destinations across the U.S. This relationship is part of an aggressive expansion plan for M life with synergistic brands worldwide that create even greater value for our members.”

The relationship capitalises on MGM Resorts’ world-renowned destinations in Las Vegas and Ameristar‘s casino-hotels in regional markets in Colorado, Indiana, Iowa, Mississippi, Missouri and Northern Nevada.

 

European poker room, Everest Poker, has announced a number of prize packages to celebrate the WPT National Marbella Poker Festival coming up in Spain this spring.

EverestPoker.com will be hosting daily satellites including $1 vacation tournament tickets in the weekly Direct Entries. Every Monday Everest Poker will be giving out $4,000 packages that give the winners full access to the WPT National Marbella Main Event and also a shot at becoming an international poker champion.

The Marbella Poker Festival is held from 19-27 April. Log on to EverestPoker.com for your chance to take part.

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