Aztar Corporation yesterday reported financial results for its 2005 fourth quarter. Its consolidated EBITDA for the period was US$48.6 million, up from US$25.6 million for the same period of 2004. The company’s growth last year was attributed primarily to the expansion of the Tropicana in Atlantic City, which opened at the end of 2004. Results from the Tropicana show that it was ahead of its competitors in Atlantic City, with a 31% growth in slots revenue and 24% in casino revenue.

These latest figures include the highly profitable New Year’s Eve, which those from 2004 did not. Robert M Haddock, Aztar Chairman of the Board, President and Chief Executive Officer, said, "All of our properties posted solid results during the fourth quarter, but we are particularly pleased by the performance of Tropicana Atlantic City. The continuing operating improvement at the Tropicana is manifest in its year-long growth in slot revenue, which has accelerated each and every quarter during the 2005 calendar year.”

The Tropicana expansion includes the successful The Quarter, recreating a piece of Old Havana. The Quarter features three floors of shopping, dining, theatre and spa services. Other casinos in Atlantic City will soon have similar attractions – the Pier is set to open at Caesars in the spring, as is the Borgata extension. Aztar is hoping that their experience in Atlantic City will make them a front-runner for a stand-alone slots operation in Pennsylvania.

There are five Category 2 licences (stand-alone) available in Pennsylvania and seventeen applications have been received by the Gaming Control Board. Aztar has submitted a proposal for a slots operation in Allentown, but has competition from seven other applications for the two licences that are available outside Philadelphia (2 licences) and Pittsburgh (1 licence). Tomorrow the Mayor of Allentown will visit Casino Aztar in Indiana, to assess the effect that the riverboat gambling operation has had on the region over the last decade.

After his visit the Mayor will decide whether to support the Aztar proposal for his city. The Pennsylvania Gaming Control Board will hold a public hearing on the Allentown project on 28 April, along with the Sands application for Bethlehem and Boyd’s for Limerick Township. Allentown at present has a US$7 million budget deficit and the guaranteed annual US$10 million from a slots operation would be welcome. To avoid controversy, the Mayor’s trip to Indiana will be paid for by the city and not by Aztar. (E-02.16.06)

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