Las Vegas losses

Continued Losses for the Las Vegas Hilton

The Owners of the Las Vegas Hilton

Colony Capital, LLC of Los Angeles and Goldman Sachs are the partnership that owns the Las Vegas Hilton. They claim to have lost $14.796 million in the third quarter which ended September 30th. One year ago they showed a loss of $13.168 million. Overall, net revenue further fell from $44.3 million to $39.5 million.

Also, casino revenue declined by 18.4 percent to approximately $15 million because of the decrease in table game and slot- activity. Hotel room revenue fell to $15.2 million due to a decline in rented rooms. Overall, the Las Vegas Hilton contains 2,950 rooms. Additionally, food and beverage revenue dropped by 9.1 percent to $12.9 million as a result of decreasing convention business.